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- Legislation and standards
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Last edited 25 Sep 2018
International Ethics Standards Coalition
A global consultation on ethics was launched by the coalition for those working across the sector, from land and property, to construction and infrastructure. It is hoped that by reasserting the role of ethics and by producing and adopting a set of common international standards, greater transparency and consistency will be enshrined in the global property industry.
The International Ethics Standards Coalition (IES) is made up of 63 professional bodies, associations and standards-setting organisations, with real estate representatives from Russia, China, France, USA, Germany, Brazil, Japan, Malaysia, Canada and the UK. Ten leading UK organisations have signed up to the coalition, including ICE, RIBA, RICS and CIOB.
IES describe their mission as, ‘Creating a universal set of ethics principles for real estate and related professions.’ This is in response to the inconsistent approach to ethics in real estate. IES will set out high-level principles that will be implemented through codes of conduct owned by coalition organisations and will provide assurance, consistency and confidence to users of professional real estate services.
IES suggest that "By creating the IES and establishing the global Coalition we can make sure professional ethics is even higher up the agenda and stimulate conversations about enhancing client confidence and public protection. This is (a) powerful and positive step for the property profession and for the many thousands of professional practitioners around the world."
Sean Harris, ICE membership director said, “ICE has its own robust standards and codes of conduct and is committed to working with our fellow global professionals in developing a common ethics standard. Establishing this important standard across the entire supply chain will enhance transparency, consistency and trust in the services being offered by professionals in what is a global interconnected market place.”
Chris Blythe, Chief Executive of the CIOB said: “Construction is a challenging environment and that will only increase as national players and agendas mix together on the international stage. It is crucial that professional ethics are implemented throughout the supply chain, particularly in markets that are susceptible to differing standards. By joining the IES and developing a collaborative and consistent approach to ethics we can ensure that with greater standardisation professionalism across the globe will be raised.”
In December 2016, the International Ethics Standards Coalition (IES) published the first set of ethics principles for professionals in land, property, construction, infrastructure and related professions.
The ethical principles highlighted by the standards are:
- Conflict of interest.
- Financial responsibility.
- Standard of service.
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