Meeting net-zero targets and other Environmental, Social, or Governance (ESG) objectives, depends heavily on facilities teams and real estate managers and their access to real-time performance data. With the growing complexity of real estate portfolios, regulatory environments, and workplace expectations, the power of accurate data is also increasing. With access to the right data, teams have the ability to identify outliers and make important decisions that lead to lowering the carbon footprint of buildings, driving down resource consumption and enhancing occupant satisfaction levels. So where do you start?
The full sustainability spectrum
There are many options for energy management software right now, but finding the right one that fits in within your short term and long term strategies around ESG and sustainability is a must.
The built environment accounts for approximately 40% of global CO2 emissions and over 50% of the world’s electricity consumption. And although the ability to track emissions and energy usage is something universally needed by all organisations to meet their ESG goals, there is a much bigger range of activities that will affect how your organisation stacks up against ESG regulations and requirements, including social aspects such as accessibility and experience. Organisations looking at the big picture will want a well-rounded energy management solution that can grow with them.
The 6P framework
To help your organisation build a comprehensive ESG plan, Frost & Sullivan has developed a 6P Framework to illustrate the six core components that facility managers should focus on when crafting their ESG strategy: Policies, Products, Processes, People/Personas, Partnerships, and Platforms.
The 6P Framework, as illustrated within Frost & Sullivan’s A Path to Sustainable Building Operations report, sets out a pathway to net zero by informing building managers of the types of data they should collect, the different ESG stakeholders they’ll need to engage with, and more. It’s a multifaceted approach that touches upon social responsibility, energy optimisation, and automation.
A collaborative approach
The convergence of facility management, maintenance management, and energy and sustainability initiatives can create wider organisational value, both in terms of concrete benefits like ROI and increased efficiencies, and in soft benefits, such as satisfaction ratings or employee retention.
Making the most of these opportunities will depend on choosing the right metrics to track, gathering accurate and reliable data, and being able to analyse and report on performance. An all-encompassing ESG strategy checklist builds value and reduces risk by unlocking the full potential of your building’s data, leveraging both in-house FM and maintenance services, as well as those delivered by outsourced service providers.
A vendor-facilitated journey
In Frost & Sullivan’s report, sustainable building operations are described as so much more than lowering the carbon footprint of your buildings. An FM-led ESG strategy will not only accelerate your sustainability journey but also drive many organisational benefits.
You can get a copy of the Frost & Sullivan report ‘A Path to Sustainable Building Operations’ for free today – and get started on building an effective business case for selecting an energy management software solution to help your team jumpstart your journey towards sustainable building operations.