The Vancouver Accord is the starting point of a process that aspires to integrate sustainability into valuation and appraisals. It was signed at the Vancouver Valuation Sommet (March 2007, Vancouver Canada),which brought together the leaders in the valuation sector offering “critical insights on how sustainability factors can add tangible value to business and property valuations”. See www.worldgbc.org.
The Sommet focused on just how important the issue of environmental, social and governance factors ( ESG) has become for the corporate world – nationally and internationally.

Particular attention was paid to the issue of valuations in the financial investment and real estate sectors, in light of a 2005 ‘Green Value “ study showing that the market value of a real estate asset is related to “its sustainability features and performance”. www.worldgbc.org

The Accord underscores the fact that valuation standards in the real estate investment sector need to develop in order to meet sustainability requirements, recognizing the influence environmental issues have on all aspects of business. The Accord begins a process of raising awareness or reviewing how the practices and standards of valuation can better meet the ‘green’ criteria.