I was privileged to be invited to attend and deliver a paper at the V20 Summit and Conference in São Paulo, Brazil from the 30th of September to the 1st of October 2024 as a representative of the SAIV.
The creation of the V20 was as a consequence of the collapse of the world’s financial markets in 2008 and the G20 Ministers’ response to the non-uniform approach to valuations across international markets. The purpose of the V20 is to lobby the G20 Ministers to include valuations as one of their engagement groups and the adoption of International Valuation Standards. This movement is supported by the International Valuation Standard Council (IVSC) and many international VPOs (Valuation Professional Organisations). The first V20 Summit and Conference was held in India in 2023 with the theme, “Economically Stable World to Achieve Sustainable Development Goals,” and it underscored the transformative impact of Trusted, Reliable, and Transparent (TRT) valuation advice.
The conference and Summit in São Paulo was the second to be held; hosted by IBAPE Nacional, the Brazilian Institute of Engineering and Evaluations at one of the CREA (the regulatory authority’s) venues. The V20 shadows the G20, which was hosted by Brazil in November 2024 with the theme “Valuation for Sustainability and Inclusive Growth: Bridging Finance and the Digital Divide”. Some of the topics included the role of International Valuation Standards across emerging and established markets and risk, advanced valuation practices and the intricacies of transnational assessments amidst different costs of capital and country risks. Further discourse was around “Enhancing Valuation Practices and Sustainability” where the importance of professional training, mass appraisal for property taxation purposes, incorporating ESG factors in valuation including a presentation on valuing carbon credits, and the importance of reliability and transparency in data collection were examined. Social interest valuations included valuing of demarcated indigenous land and illegal deforestation.
Around 14 International VPOs represented in Brazil with speakers from Brazil, Chile, USA, Canada, UAE, South Korea, UK, Australia and South Africa. Additionally, UPAV, a Pan American Union of Valuation Associations representing 19 valuation organisations across the Americas and Europe.
The presentations at the 2024 V20 Summit were focussed on enhancing sustainable development through the valuation profession. This is seen as essential for achieving the UN’s 2030 Agenda for Sustainable Development. The Sustainable Development Goals (SDG) 11 focuses on creating inclusive, safe, resilient and sustainable cities and human settlements. The challenge in many parts of the world is the accurate valuation of unregistered land occupied by marginalised communities with informal or customary land rights, highlighting the need for a robust strategy to valuing unregistered land to ensure fair compensation, legal compliance and risk minimization. My paper was based on this challenge as South Africa has vast tracts of land where the occupants have largely insecure tenure and are consequently unable to access finance using land as security.
For me, the highlight was interacting with the various VPO representatives from around the world and exchanging ideas. It was very interesting to learn that only engineers and architects are allowed to value in terms of legislation in Brazil. Their valuations include both immovable and moveable property, tangible and intangible assets such as trademarks and goodwill.
It was also very interesting to learn that we all face an aging profession with an urgency to transfer the skills required to make valuations a sustainable and professional career for future generations.
The V20 Summit followed a 2-day programme where the participating countries re-affirmed their commitment by signing the Declaration agreed to in India which states that:
United as the Valuation 20 (V20) Summit, we, the representatives of G20 Valuation Professional Organisations (VPOs), commit to harnessing the transformative power of reliable and transparent valuation advice in achieving a stable, prosperous world that prioritises sustainable development. Our collusive vision is to promote Trusted, Reliable, and Transparent (TRT) valuation advice, advancing decision-making that fosters trust, confidence, and prosperity throughout the G20 community.
To this end, we commit to:
- Championing Trusted, Reliable, and Transparent (TRT) valuation advice to foster trust, confidence, and prosperity.
- Upholding unwavering ethics, striving for methodological excellence, and committing to transparent process.
- Utilizing collective intelligence, fostering diversity, and cultivating an inclusive valuation ecosystem.
- Echoing our efforts worldwide, contributing to transformative policies and pioneering regulations.
- Aligning with the G20’s principles of sustainable development, inclusive growth, and responsible governance.
The baton was passed on to me, as President of the SAIV, for the organising of the V20 Summit and Conference to be held in Cape Town, South Africa in October 2025.
We are reaching out to VPOs throughout Africa, as well as the other continents, to participate in South Africa’s Presidency of the G20 with the theme “Solidarity, Equality and Sustainable Development”.
We as the SAIV are excited to be part of this great movement and look forward to organising a world-class Summit with our local stakeholders and hope that we will see many of our members at the Summit in Cape Town. Hopefully, with sufficient early notice, you will all be able to budget to attend this important event and benefit from the papers to be presented from around the world.
SEE YOU IN CAPE TOWN IN OCTOBER 2025
