Long deadline: To develop EU-wide recommendations for a voluntary ‘building passport’ as a key tool to help overcome existing information imbalance by providing all market stakeholders, including financing institutions, providers of mortgage credit, investors and insurers with access to key building related documentation and information to properly assess the many factors impacting the overall quality of buildings.
Progress: A first workshop with ministry level government representatives and key stakeholder groups, including delegates from the finance and investment community was organised by RICS and DG Growth of the European Commission on 27 September 2016.
Lack of information and transparency increases risk and undermines investor confidence. Therefore, a systematised and optimised capture and processing of information also supports investment decision making and creates opportunities for innovation and uptake of energy efficiency and sustainability measures, processes and designs. Similar to medical records or a car’s maintenance log book, a building passport would allow access to all relevant data and information at all times by anyone who needs it, building passports could play a valuable role in boosting the availability of information to a wide range of market participants. Better information flows are a necessary part of improving the quality assurance system for buildings and the construction industry market overall.