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Guide to ESG for Corporate Real Estate Teams

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Guide to ESG for Corporate Real Estate Teams

Why ESG should be top of mind

ESG – once limited to “green” initiatives and vague references to sustainability – is now top of mind for investors, C-suites, and other stakeholders as talks of climate change begin to escalate. According to Neutral Capital Partners, 23% of companies have made a public commitment to being totally carbon neutral by 2030, and it would be naïve to assume this corporate real estate sustainability decision wasn’t made with the bottom line in mind.

But why should corporate real estate and facilities professionals care? IEA says the built environment is responsible for nearly 40% of direct and indirect carbon emissions. If it hasn’t happened yet at your organization, you can expect to be held accountable in the near future for KPIs related to sustainability and reduction of carbon emissions.

Your Call to Action

Now that we have your attention, you might be wondering what’s next. Let’s work backwards – your end goal is reduced CO2 emissions and a sustainable real estate portfolio. Before doing that, you’ll have to know how to get there, and to determine a roadmap to success, you’ll have to know where you’re starting from. To have a clear understanding of where you are, you’ll have to have 2 things: a clean, validated ESG dataset and a centralized sustainability reporting platform to measure and analyze progress.

Choosing an ESG Solution

Fully understanding the scope of your ESG initiative will require a specialized software that helps you analyze and benchmark your carbon footprint and emissions data for your global commercial real estate portfolio. ESG reporting software is a relatively new category, especially in the real estate industry, so here are some things to look out for when choosing a solution:

  • A process for cleaning and validating data so that all missing data and/or outliers are flagged and corrected before the analysis stage so that strategy is built off of accurate information
  • A clear way to measure and visualize the energy efficiency metrics and KPIs that matter to your organization, because every portfolio is different
  • A centralized hub for all internal stakeholders to view and collaborate with the energy consumption information for increased transparency and visibility
  • A way to easily share the information gathered with any external stakeholders with minimal effort to reduce time spent crafting custom reports and increase time spent on strategy and analysis of your sustainable practices

Interested in learning more about sustainability for corporate occupiers? Watch RefineRE’s latest ESG webinar on demand featuring Mastercard, Verdantix, and more.

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