The standards align the ethics principles set out in many codes of conduct published by the coalition's organisations. The coalition has more than 100 members from around the world, including a number based in the UK such as the Royal Town Planning Institute (RTPI), the Institution of Civil Engineers and the Royal Institution of Chartered Surveyors.
The IES Coalition believes that creating a universally applicable set of ethics values will bring greater recognition to the role that ethical values play in efficient property markets. Peter Bolton King, who chairs the coalition, said: “Ethical values act as an anchor to appropriate behaviours and research tells us that investment in real estate markets by pension funds and sovereign wealth funds is predicted to double over the next decade. Therefore, publishing one set of International Ethics Standards helps to underpin existing codes of ethics and create an opportunity to strengthen the role these values play in the property industry.”
Trudi Elliott, RTPI chief executive, said: “An over-arching, global set of ethical principles helps to strengthen the existing practice of planners working in the 80-plus countries where our members work. The professionalism of planners, actively promoted by the Institute’s own Code of Conduct, brings clarity and transparency to multi-disciplinary projects and companies, and is key to unlocking infrastructure, housing and the jobs that places need.”
The standard covers 10 principles, which are considered to be of equal importance. If two or more come into conflict during an assignment, the practititioner should give precedence to the principle that best serves the public interest in the circumstances. The 10 principles are:
- Conflict of interest
- Financial responsibility
- Standard of service