ESG or environmental, social, and governance planning, is now on everyone’s mind. And there’s a reason for this: 2021 will mark the commencement of a new era that'll center on sustainability and climate. While some are excited, others are confused about what this potentially herculean task will entail , especially for the Facilities Management and Real-Estate industries.
From investing in green buildings to adopting green sustainable energy solutions, investors, tenants and occupiers are all conscious of the impact our decisions can have on the environment. Implementing sustainable practices is not an option anymore, it is a must. In light of this, how can Facilities, Operations and Building Managers devise and implement successful ESG strategies to add value to their properties and make their tenants happy?
What is ESG?
ESG stands for Environmental, Social and Governance planning and it has now become a corporate duty and responsibility. The real-estate and property sectors are not only responsible for around 40% of the country’s carbon footprint, they’re also causing a considerable amount of energy waste (UKGBC). In response to this, the United Kingdom has set a net-zero target which it hopes to be reaching by 2050. Attaining it will undoubtedly have to start with the successful implementation of ESG strategies.
ESG practices are born out of necessity. Climate change and pollution are tangible evidence of how neglectful certain companies have been towards the planet. This, coupled with intensified global commercial activities, has taken a serious toll on the environment; carbon emissions, air pollution and wastage have now reached a new high.
Companies now more than ever have a responsibility to effect positive change on the environment. This starts with ensuring they’re not wasting energy and that they proactively follow sustainable procedures that are clearly laid out in their ESG plan. The same applies to building operators.
Setting clear and actionable ESG goals will help reduce operating costs and carbon emissions, improve productivity and building’s overall performance.
For Facilities, Real Estate and Property Managers who want to stay ahead of the game, carefully implementing ESG strategies should now be a primary focus. This will not only ensure that their buildings are attractive to investors and occupiers alike, it'll also enable them to set KPIs and to report on performance to stakeholders.
The positive effects of implementing an ESG plan have been validated by countless studies, pointing to the fact that buildings that have a clear sustainability goal will see their ROI grow. Proptech like BlockDox can facilitate your ESG plan, giving you access to real-time actionable data and insightful reports so you can achieve your ESG goals.
ESG also emphasises occupiers, employees and tenants’ wellbeing in a building. This means that good air quality is an important focus of EGS regulations. Indeed, monitoring the quality of your air can increase productivity and lead to employees taking less sick days. In addition, good air contributes to healthier lungs and overall staff’s wellbeing. How safe someone feels in a space is at the center of ESG and this starts with providing an healthy environment.
Data is what enables and supports Facilities Management teams to successfully craft and implement an ESG strategy. ‘Once you can measure something, you can manage it’, therefore access to real-time data, insights and analytics can help you increase your sustainability rating and benchmark against standards and regulations.
BlockDox is committed to supporting businesses to address the environmental and sustainability concerns they may have. Contact us to find out more about our proptech solution and how we can support your ESG agenda: sales@blockdox.com
