2007 Summit

On March 2, 2007, the Vancouver Valuation Summit received presentations from representatives of governments, agencies, individuals, professions and companies from many backgrounds and countries.

The Vancouver Valuation Summit broke new ground in a number of key areas including:

  1. Highlighting the importance of sustainability to economic prosperity and social cohesion;
  2. Describing the nature of linkages between valuation and sustainability;
  3. Profiling how sustainability factors can add value to property,
  4. Emphasizing the importance of the rigor of valuation and the professional capacity of Valuers; and
  5. Identifying opportunities for Valuation and sustainability practitioners to work together to advance understanding and knowledge.

The Summit's focus was the link between sustainability and valuation, and a major outcome of the Summit was the signing of the Vancouver Valuation Accord (VVA). Led by Premier Gordon Campbell of British Columbia, the Accord represents a formal expression and commitment by signatories to advance understanding, knowledge, educational capacity and practices about Valuation and sustainability.

Download the Vancouver Accord

 

On Saturday, March 3rd, immediately following the Summit, a Private Forum for representatives of major valuation organizations, expert valuers and leading sustainability practitioners was convened to identify the challenges and opportunities inherent in implementing the Vancouver Valuation Accord. The result of this meeting was the creation of a Go-Forward Work Plan for Valuation and Sustainability

Download the Forum Summary and Work Plan

 

Many presentations were made at the original summit.  Below highlights some of the presentations made at that meeting and including links to the available presentation material.

Welcome and Introduction

by Don Fast, Deputy Minister, Ministry of Economic Development, Government of BC, Victoria, BC

 

Opening Plenary

 

The Imperative for Sustainable Action: A Global View

The recognition that economic and environmental issues are inextricably interlinked is now a global reality. International, national and regional institutions are increasingly incorporating sustainability into their activities as the global imperative for action on sustainability becomes a major political agenda item. Global warming is an example of a global issue that has galvanized action and discussion around the world about the interface between the environment and the economy. This opening session provided a global perspective on the issues, challenges and actions currently being taken to integrate sustainability into the global economic agenda.

Panel Members:

Bridget Liddell, Member of the Board, United Nations Principles for Responsible Investment (UN PRI); Director, New Zealand Superannuation Fund, Seattle, WA

Charles McNeill, Team Manager and Senior Biodiversity Advisor, Environment Programme, Environment & Energy Group, United Nations Development Program, New York, NY

Moderator:

Bruce Sampson, Vice President Sustainability, BC Hydro, Vancouver, BC

 

The Green Development Shift

 

Developers are increasingly considering embedding sustainable aspects in their projects. This informative session provided an overview of how the building industry is changing, what this means, and provided a glimpse into leading experts' perspectives on the possible future direction of development.

Panel Members:

Kevin Hydes, Chair Elect, World Green Building Council; Vice President of Buildings Engineering and Sector Leader for Sustainable Design, Stantec, Montreal, QC

Thomas Mueller, President and CEO, Canada Green Building Council, Vancouver, BC

Sandy Wiggins, Chair Elect, US Green Buildings Council; Founder and Principal, Consilience LLC; Chester, PA

 

Valuation and Sustainability

 

This presentation explored the linkage between sustainability and valuation. It reviewed existing and future models for measuring sustainability, both financial and non-financial.

A Global View on Valuations:
Stephen Williams, Partner, Williams-Murdoch, Inc.; Past President, RICS (USA), New York, NY

Business Case Presentations:
Theddi Wright Chappell, Managing Director of Advisory Services, Pacific Security Capital, Beaverton, OR, USA

Chris Corps, Founder, Vancouver Valuation Accord; Principle, Asset Strategics Ltd; Past Chairman, Royal Institution of Chartered Surveyors (RICS), Victoria, BC

Non-financial Reporting:
Sean Gilbert, Director, Technical Development , Global Reporting Initiative, Amsterdam, The Netherlands

Moderator:
Professor Sarah Sayce, Head, School of Surveying, Kingston University; Chair, Centre for Sustainable Communities Achieved Through Integrated Professional Education (C-SCAIPE), London, UK

 

The Impact on Real Estate I: The Developers View

 

These presentations highlighted the business case components for major green developments and illustrated how these add value. Presenters explored how development valuation could and should be improved.

Joe Van Belleghem, Partner, Windmill Developments; President and Founder, BuildGreen Development Inc.; Treasurer, US Green Building Council, Victoria, BC

David Butterfield, President, The Trust for Sustainable Development; Chairman, Loreto Bay Company (Mexico), Scottsdale, AZ

Moderator:
Dr. Raymond Cole, Professor and Director, School of Architecture and Landscape Architecture, UBC, Vancouver, BC 

 

The Impact on Real Estate II: An Investment Perspective

 

These presentations summarized investment and financial perspectives of incorporating sustainability factors into development and explored how these factors can be incorporated into valuations.

Doug Pearce, Chief Investment Officer, BC Investment Management Corporation, Victoria, BC

Dr. Paul McNamara, Co-Chair, UNEPFI, Property Working Group; President and Fellow, UK Society of Property Researchers; Chair, The Institutional Investors Group on Climate Change - Property Workstream, London, UK

Moderator:
Peter J. Clark, Past President, The Appraisal Foundation; Founder, Peter J Clark Consulting Services, Vancouver, BC

 

 

As sustainability was the focus of the 2007 Vancouver Valuation Summit, steps were taken to reduce the ecological footprint of the event: we used lanyards made from recycled pop bottles, took steps to reduce the generation of wastes, served organic food and beverage, and printed the event program on 100% post consumer waste content recycled paper.

Travel of participants to-and-from the event, the consumption of electricity at the event venue, and the production of event-related print materials results in the generation of greenhouse gases which contribute to climate change. In order to mitigate this impact, participants were provided the option to offset their event-related emissions when they registered for the Summit. When participants chose to offset, they supported renewable energy projects through their contribution to the purchase of carbon offset credits from Zerofootprint.

Zerofootprint logo

The Vancouver Valuation Summit organizers would like to thank Zerofootprint for sponsoring carbon offsets to make event-related print publications and electricity consumed at the event venue carbon neutral. Zerofootprint is a not-for-profit, dedicated to helping organizations, individuals and events reduce their ecological footprint. To learn more, visit www.zerofootprint.net.

 

“Linking Valuation
and Sustainability”

 

Vancouver Valuation Accord Signatories:

The Hon. Gordon Campbell,
Premier of British Columbia

Bob Elton, President & Chief Executive Officer, BC Hydro

Brian Fellows, President & COO, Workplace Solutions Inc (WSI)

Chris Corps, Principal, Asset Strategics Ltd.; Past Chair of RICS

Sandy Wiggins, Chair, US Green Building Council

Kevin Hydes, Vice President, Stantec Consulting Ltd.

Jim Amorin, Vice President, Appraisal Institute

George Maurice, Vice President, Appraisal Institute of Canada

Thomas Mueller, President & CEO, Green Building Council

Louis Armstrong, CEO, Royal Institution of Chartered Surveyors

Philip Parnell, Partner, Drivers Jonas

Stephen Williams, Partner, Williams Murdoch

Clemencia Parra, Director, UPAV

Graham Hill, Mayor, Town of View Royal

Peter Clark, The Appraisal Foundation


 
 
Organized by GLOBE Foundation