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Stakeholders are being encouraged to give their feedback on the United Nations Global Compact & RICS Responsible Business Best Practice Toolkit for the land, construction and real estate sector during a consultation period which ends on the 16th March.
The best practice toolkit, developed jointly by the UN Global Compact and RICS, aims to improve responsible business practices in the land, construction and real estate industry. This collaboration is among the UN Global Compact’s first initiatives to address corporate sustainability in a specific sector following the recent launch of its Post-2015 Business Engagement Architecture.
Marshalls is a member of the global steering group which supported the process to develop this toolkit, along with other UN Global Compact participants from the areas of real estate, development, finance, investment, construction, research and training, as well as global law firm Latham & Watkins LLP, the Karlsruhe Institute of Technology, RICS’ industry-academia partnership university. Delivery of the two-year project will be in the summer of 2015.
The project’s primary goal is to clarify the fundamental relevance of the Global Compact principles to the land, construction, and real estate sector and provide a practical toolkit to assist participants operating within that sector to better implement those principles in their activities.
To achieve this aim the project will seek to deliver on three key objectives:
1. Identify opportunities and challenges for the sector relating to the UN Global Compact’s issue areas of human rights, labour, environment and anti-corruption, as well as broader UN goals;
2. Engage UN Global Compact participants from the sector, as well as real estate users and stakeholders, to capture existing best practices and scale up sustainability initiatives; and
3. Develop a best practice Toolkit built on the Global Compact’s Ten Principles to help companies in the sector and its downstream users across the property lifecycle (Development, Real Estate Use, Recovery and End of Life) to tackle sustainability issues and harness significant opportunities.
Chris Harrop, Marshalls’ Group Marketing Director and UK Chair of the UN Global Compact, said: “We were honoured to be invited to join the steering group which supported the development of this draft Toolkit, it is recognition of our global status as sustainability leaders in hard landscaping.
“We urge those working in the land, construction and real estate sector to give their feedback so that this piece of work can be as meaningful and beneficial as possible.”