The impacts of intensifying natural disasters, from devastating floods in Germany to the flames across the Western U.S., have been complicated by the global coronavirus pandemic. Disruption and uncertainty are the only new normal, and this truly is a climate emergency. In the short term, executives are leading climate action in the U.S. and corporate sustainability initiatives are evolving to address climate change head on. Monumental investments in renewable energy and carbon offsetting have grabbed headlines, and thanks to COP26 and its ‘Cities, Regions and Built Environment Day’, the world is waking up to the fact that now is the time to take the next step and begin the decarbonization of the built environment. This blog post discusses how increasing building sustainability not only benefits our environment, but also increases building resilience and profit.
Consider the fact that building materials, construction, and operations contribute about 40% of total global greenhouse gas emissions. Dramatic emissions reduction in buildings is necessary to cap global warming to 1.5 °C in accordance with the guidelines of the IPCC, and this goal will be impossible to achieve without reducing the carbon footprint of buildings.
The current pandemic has accelerated trends emerging over the last 24 months in real estate. Executives are seeking data-driven solutions to optimize operations and minimize costs. At the same time, there has been an overall shift in perspective to focus on the occupant in investment decision-making. Tenants, employees, and customers demand a technology-enabled experience that reflects their at-home sustainable and digital preferences.
These factors are converging, and real estate leaders now understand that technology-enabled sustainability reflects positively on their brands. The investment decisions they make can ensure their spaces are comfortable, productive, efficient and sustainable, helping to attract and retain employees and customers while appeasing other stakeholders and protecting the bottom line.
Don’t overlook the fact that your shareholders and financial institutions are taking stock of the risk imposed by climate change. A report from the U.S. Commodity Futures Trading Association was released last September, making it cut and dry: “Climate change poses a major risk to the stability of the U.S. financial system and to its ability to sustain the American economy.” The report goes on to address the climate risk for real estate directly, stating “assets may be devalued simultaneously as a function of both absolute losses from physical risks and from the transition risk of consumer preferences shifting away from ‘non-green’ assets that lack sustainability and resilience.”
We’ve all heard the phrase, “data is the new currency” in today’s market and real estate executives should acquire enterprise software tools that evaluate building performance alongside any other KPI monitoring their business health and climate resilience strategies.
To do so, you need comprehensive, consistent, and accurate data. It’s inevitable that you have disparate building systems across your portfolio, facilities management tools and energy information all siloed and accessed through a myriad of platforms, however. Fortunately, Switch Automation offers an alternative to achieve data transparency, insight and control for building performance optimization.
Our solutions ensure compliance, resilience and transparency to navigate the new normal of uncertainty. Switch Dx3 is a powerful foundation for the enterprise smart building strategy. In under a week of deployment, Switch Dx3 gives customers a unified view of network health and equipment and device connectivity, providing ongoing data aggregation and storage to enable system analytics and automated control.
The Switch Platform visualizes, assesses, and automates controls for system optimization leveraging the data from Switch Dx3 and any data stream, platform, or facilities tool in your enterprise.
This approach ensures you have the visibility into how your buildings are performing to meet the rapidly changing demands from occupants, comply with shifting public health requirements and showcase your commitment to the climate change strategies necessary for long-term profitability.
Talk to a smart building expert to learn more about how Switch helps portfolio managers reach their sustainability goals.
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