MANAGEMENT / PLANNING
and ultimately disposal .
The resource is the result of a twoyear collaboration between the UN Global Compact and RICS , a global professional body representing more than 100,000 members in 146 countries and features extensive dialogue with industry professionals . Additional contributions to the resource came from the Centre for Real Estate at the Karlsruhe Institute of Technology ( KIT ) and a steering group of sector-related representatives from Global Compact participant organisations and wider civil society . In addition , the resource was shaped via in-person workshops and online consultation with a dedicated group of RICS members and numerous other stakeholders across the globe .
This is one of the UN Global Compact ’ s first initiatives to promote responsible business that focuses exclusively on one specific economic sector . Since its inception in 2000 , the United Nations Global Compact has called on companies everywhere to voluntarily align their operations and strategies with its human rights , labour , environment and anti-corruption principles , and to take action in support of wider
UN goals . By doing so , business can help work towards the vision of a sustainable and inclusive global economy that delivers lasting benefits to people , communities and markets ( www . unglobalcompact . org ).
“ The land , real estate and construction sector has an enormous impact on global economies , the environment and people ’ s lives . With this resource we want to show businesses how to operate responsibly and sustainably , generating substantial social , environmental and reputational value and long term financial success in the process ,” adds Mr Tompkins .
The paper examines the sector ’ s impact in relation to the UN Global Compact ’ s four focus areas of human rights , labour standards , the environment and anti-corruption . It identifies some of the most critical issues facing the sector , broken down into the three key real estate life cycle phases – Development , Use , and Recovery – and proposes the corresponding actions to embed responsible business practices , illustrated by good practice case studies from around the world . As Ursula Hartenberger , Global Head
10 August 2015