The Royal Institution of Chartered Surveyors (RICS) is developing a common international reporting framework for embodied and operational carbon in the built environment.
Embodied carbon is the total greenhouse emissions generated during the manufacture of the materials and products used in the construction and refurbishment of new and existing buildings and infrastructure. It is coming under greater scrutiny, as the grid decarbonises and emissions from building energy use decrease. A recent report noted that without action, embodied carbon will be responsible for 85 per cent of Australia’s built environment emissions by 2050.
In Australia, the Materials & Embodied Carbon Leaders’ Alliance (MECLA) is working to reduce embodied carbon in the building and construction industry. Overseas, similar initiatives are under way, such as the International Cost Management Standard.
“The International Cost Management Standard (ICMS) is a high-level cost-classification system used by leading firms in regions that supports project benchmarking and decision-making in procurement,” RICS says.
RICS has worked with an international coalition to develop ICMS 3, now open for consultation and closing this Friday September 10, 2021.
RICS is also running a free webinar on September 8 to explain what is planned for the framework. Included in the seminar are:
- Presentation from Alan Muse FRICS, Chair, International Cost Management Standard
- Panel discussion with senior professionals from the Asia-Pacific region
- Opportunity to ask questions regarding the ICMS and the draft currently under consultation.
For more information and to register for the webinar, click here.