According to a report released by Ericsson, IoT (Internet of Things) systems are expected to help reduce global greenhouse gas emissions by up to 15% by 2030. As the world increasingly focuses on sustainability, many organizations are carefully examining the role they can play in achieving sustainability goals. Facility and operations professionals should be part of this conversation. In fact, it has been reported that the built environment accounts for 40% of global carbon emissions, which means that facility teams, whether in-house or outsourced, have a significant opportunity to help their organizations make impactful decisions and take action to become more sustainable.
Organizations Have Set ESG Goals but Still Struggle to Report
The vast majority of enterprises are adjusting their business models and operations to achieve better performance in sustainability. Brand and reputation, stakeholder value, as well as health and safety are significant drivers of this. With many countries set to introduce new Environmental, Social, and Governance (ESG) regulations, organizations are also being compelled to prioritize sustainability.
A recent global study on the drivers of corporate ESG investment confirmed the importance of ESG on organizational agendas. While business drivers may vary, facility service teams are clearly focused on achieving ESG commitments and are able to provide ESG services to clients, as well as enhance performance transparency and accountability. Notably, 43% of facility service providers reported that clients have requested ESG proposals from them.
The study also found that most organizations have set ESG goals and targets but face challenges in measuring and reporting ESG performance. To drive ESG improvements and achieve real change, detailed insights are needed. Additionally, compliance with regulatory requirements regarding climate risk and decarbonization, as well as social metrics when these standards become stricter, is also necessary.
This is where technologies such as IoT, building management software, and facility service solutions come into play. As digital and intuitive technologies are now widely adopted in almost every organization, the real-time data they provide is crucial for facility teams and their organizations to effectively manage sustainability programs.
Data is the Greatest Catalyst for Successfully Translating ESG Goals into Action
Specifically, IoT is one of the main technological forces accelerating the digital transformation of building managers, facility managers, and facility service providers to achieve more sustainable buildings and FM services.
According to the 2022 Verdantix Smart Building IoT Green Quadrant, organizations are increasingly leveraging IoT to achieve key strategic objectives. Leading IoT use cases revolve around space utilization, tracking energy consumption, reporting compliance, and proactive asset and maintenance management.
Many enterprises still have a long way to go before achieving their ESG goals. Many organizations still lack a precise understanding of their energy consumption, as they rely on high-level data from utility bills and building meters, which illustrates this point. Furthermore, they need to establish carbon emission calculation processes. Utilizing IoT-enabled sub-metering technology solutions will provide data-driven insights for operational savings and opportunity discovery, as well as consumption data for energy performance and carbon footprint compliance reporting.
Driving Sustainable Performance with IoT-Supported Building Management Software
To effectively track an organization’s sustainability initiatives, the right foundational knowledge is essential. This requires collecting accurate and timely energy and usage data from the devices and assets that need improvement. IoT enables organizations to gather and analyze the real-time information necessary to set goals and KPIs, ensuring they stay on track. Access to historical data can also help organizations formulate or refine protocols and mitigate risks.
If an organization has a large building portfolio or is launching multiple IoT initiatives that impact various stakeholders, questions may arise about how to manage these initiatives while maintaining control over what happens in the buildings. In such cases, a platform approach to managing all IoT initiatives may be considered.
Choosing an IoT-supported building management or facility service platform offers multiple advantages, especially when moving beyond single-point solutions and needing to simplify management across a mixed portfolio of owned and leased buildings. Leveraging IoT data at the business level, integrated into specific maintenance, space, and sustainability management software, allows managers, operators, and on-site technicians to gain insights at a glance. Additionally, they can respond quickly to issues and establish more proactive rules based on specific thresholds of energy consumption, asset behavior, or space occupancy, thus reaping significant benefits.
Future-Proofing Sustainability Efforts by Choosing the Right Supporting Technology
The future is IoT-driven. Facility managers and service providers who want to make an impact and stay ahead in today’s market cannot overlook the important role of IoT in achieving sustainable facility management.
Source:Qianjia.com.
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