New RICS President sets sights on decarbonisation in inauguration speech

RICS has welcomed its new President, Tina Paillet, at a ceremony at its headquarters in Westminster, becoming RICS' 142nd President in its 156-year history.

Tina is the founder and CEO of Circotrade, a building material trading platform, and has overseen global asset management, major development projects and sustainable investing across Europe, the UK and globally in a career spanning over 25 years.

RICS Presidents are elected by its Governing Council for one-year terms, first as Senior Vice President, then as President-Elect, progressing to President. They chair RICS' Governing Council throughout their terms, where they participate in setting RICS' strategy and provide oversight.

In her inauguration speech, Paillet highlighted the built environment's significant impact on climate change, referencing the United Nations (UN) report, which estimates that the industry creates around 40% of global energy-related carbon emissions. Stating that "the path to net zero is blocked without us", Paillet noted RICS' developing role as a UN partner at last year's COP28 and the upcoming Buildings and Climate Global Forum in Paris, where RICS experts will brief energy and climate ministers from across the globe on the environmental challenges facing the built environment and the tools and solutions RICS is developing and deploying in 2024.

Paillet's passion and expertise in sustainable real estate and investing are timely, with RICS promoting a new global edition of its Whole Life Carbon Assessment for the Built Environment (WLCA) this year. WLCA, supported by the UK Government’s department for Transport, and Zero Waste Scotland, is set to become the world-leading standard for consistent and accurate carbon measurement in the built environment. This 2nd edition builds upon the success of the existing RICS WLCA standard, having been extended to cover all buildings and infrastructure throughout the built environment life cycle.

RICS President, Tina Paillet, said: "It is an honour to take up the role of RICS President in what is a critically important year for RICS and the built environment, as we deliver our new strategy in 2024. I wish to thank my predecessor, Ann Gray, whose time as President saw RICS reset its governance bodies, rebuild our senior leadership team, and redefine our strategy.

"A key element of that strategy is that RICS will lead in the area of sustainability. The road to net zero is blocked without the cooperation of the built environment, which is why RICS is committed to its responsibility as a leading global industry body to provide the tools and standards to support the sector, such as our Whole Life Carbon Assessment standard.

“But carbon is not the whole of the built environment’s impacts on the planet. Waste and resource depletion are also environmentally destructive, and currently, the sector reuses just 1% of materials from demolition. During my presidency, RICS will convene and support a circular economy forum, led by the market for the market. This Do-Tank will not only share best practice but will drive pragmatic and practical experimentation to provide examples and leadership for the whole industry.

"Together we can make 2024 an impactful year for RICS and witness the fruition of several years' committed work towards positive change for our members, our industry, and global society."