There is no easy or seamless quick-fix to building decarbonization. But, as penalty-driven regulations begin to plague CRE owners and buildings are forced to reduce carbon to avoid financial consequences, CRE leaders should know what their options are to improve their environmental impact without the burden of pouring more money than they are able to see in return.
While there are many methods that help reduce the carbon impact of commercial buildings, some methods have proven more effective than others when it comes to making decarbonization a smart business decision for your bottom line, too.
What’s leading to some methods coming out on top, while others fall to the wayside? One word: Data.
Keep reading to learn more about what incorporating data technology into your business looks like, and how you can start saving costs, increasing asset value, and reducing carbon impact through what experts predict to be the most effective CRE tool this year.
Decarbonization’s New Backbone
Buildings process thousands of data every single minute – yet 90% of data isn’t even stored. And, until recently, the operations of buildings have typically been managed simply by human judgment and pieces of paper, leaving crucial data points that could make significant strides in energy and cost reduction behind.
Without putting this data to work, reaching reduction goals in carbon emissions is like swimming upstream. You’ll still likely be able to make progress, but it’ll be slow, expensive, and, eventually, you’ll drown when those inefficient methods stop working.
“As the commercial real estate industry carves a path towards decarbonization, data is proving to be a valuable asset to better understand how buildings perform and where investments in infrastructure need to be made to expedite decarbonization goals,” said Don Kasper, VP of Customer Success at Cortex. “Data is a rich resource of insights that is allowing innovation and progress at scale in commercial buildings.”
By using the data buildings are already collecting and combining it with additional data points that impact your building’s operations, such as weather data, you’re optimizing your current assets, creating a leverageable carbon-saving system, and saving money along the way. Data is already the backbone of your buildings. Software just flips the switch that puts that data to work.
The New Key to Unlocking Asset Value
“CRE owners and operators will increasingly need sustainability intelligence platforms to help them squeeze carbon emissions out of their asset base,” said Jim Kapsis, Founder of The Ad Hoc Group, Inc. “These companies will give them the tools to [reduce emissions], while also saving money on energy and compliance costs. [It’s] a win-win-win for their tenants, their balance sheets, and the climate.”
It’s a win for asset value, too. Savanna Fund is an excellent example of an organization putting data to work. After implementing our sustainability intelligence machine learning platform in just one building, they were able to save a whopping $250,000 in operating costs, resulting in an increase of $5 million in value for that particular asset.
While equipment upgrades are inevitable, utilizing data allows you to get the most out of what you already have, leading to quicker carbon reductions and the ability to recognize payback for your investments faster without any disruptions to your business operations. As Kapsis says, win-win-win.
Get the Benefits of Data-Driven Technology
Sure, other companies are seeing success through our sustainability intelligence data-backed platform. But, what can data do for you?
Our building sustainability experts offer a decarbonization plan for your portfolio. We can calculate just how much carbon and costs you will be able to save, and help you figure out how Cortex can help make a difference to your bottomline. Fill out the form below to get your custom decarbonization plan today.