As Real Estate becomes more data driven and complex, it will become increasingly important for the sector to get to grips with the ethical challenges that this presents.
We will increasingly have to address how we collect, manage and use data in the most ethical way for our businesses and society.
The RED Foundation has established a steering group of leading experts and 6 principles that we are asking companies to sign up to demonstrate that they are working towards.
Find out more about the Data Ethics Steering Group here.
Find out more about the RED Foundation Data Ethics activity and FAQ's here.
Data Ethics Principles
Data Ethics is a fast moving and dynamic topic, however there are some simple principles that we are encouraging all organisations to work towards and build into their thinking.
SIGN UP BELOW TO SHOW YOUR ORGANISATION'S SUPPORT FOR THESE PRINCIPLES
RED Foundation Data Ethics Principles
Six high level principles that we would encourage all real estate companies to work towards. Demonstrate to staff, clients and society that you are doing so by signing the form below.
For the data collected and used. This includes taking responsibility for using the data in an appropriate and secure way.
About what is collected and why. Whilst this cannot be expected for every data point, at a minimum a general data policy should be published for each building and company explaining what is collected and why.
Not only should data be collected within legal and technical requirements, but is also proportionate to the benefit and the expectations of wider society
4. Confidential & Private
All activity with data should at all times consider confidentiality and protect privacy; both within necessary legal requirements, but also according to the expectations of wider society.
All data should only be used within all relevant local and international laws and regulations.
Security principles should be built in ‘by design’ into all applications and appropriate steps should be taken to keep data secure.
RED Foundation Data Ethics Steering Group
The RED Foundation Data Ethics steering group, is made up of experts from across all corners of the sector with the purpose of raising the topic of data ethics up the sector’s agenda. It will:
Provide a credible voice for data ethics in real estate
Own and promote the RED Foundation Data Ethics principles across the real estate sector
Act as a 'Data Ethics' sounding board for other activity across the RED Foundation
Produce regular 'RED Foundation Data Ethics' updates on market activity or specific topics
Be responsible for external Data Ethics proposals to be carried out on behalf of the RED Foundation
Are these Data Ethics standards?
What does signing up to support these mean?
Real Estate hasn't always been good at getting on the front foot with big challenges that have emerged, we are trying to change that when it comes to data ethics.
Do you vet the companies that sign up to support?
No. Signing up to support the principles is simply a public declaration. It is open to all companies and organisations and the requirement to sign up a is nothing more than wanting to make a public declaration that data ethics are important and that the principles will be built into day to day thinking.
Do members of the Industry bodies that support the RED Foundation have to work towards these?
No. The organisations that support the Real Estate Data Foundation recognise that the role of data is important and in some situations there are benefits from having a cross sector space to address challenges that do, or will exist.
What happens if I don't follow these principles?
The RED Foundation does not specify how the principles should be worked towards or adopted, nor do we carry out any checks on companies that they do / will build them into their thinking and there is no penalty if they do not.
Why have you joined the IESC (International Ethics Standards Coalition)
We are specifically interested in Data Ethics, but we see this as really the application of more general ethical behaviour to data.
If I sign up to the data ethical principles, does that mean I have all areas of data ethics covered?
No, absolutely not.
Where can I find out more?
You can find more resources in the RED Foundation resource library.
How do we show that we are supporting the data ethical principles?
You are welcome to share this with whoever you want to and a 'badge' for companies to use will be created in the coming weeks.