Human-Centric Metrics in Sustainability: What can EVORA do for our people and communities?

By Lucy Curtis and Emily Day

Over a year has passed since the pandemic hit the UK and our workplaces changed dramatically. Increased homeworking has led to a heightened consciousness of the social impact that EVORA, as a company, can have on its people.

The past year has given us countless reasons for our health and wellbeing scales to tip off-balance. We have lost the regular exercise during our daily commute, have been torn away from our emotional support circles and are at a greater risk of anxiety, stress and depression than ever before. Before the pandemic, we would typically spend 90% of our time indoors and staggering 9.5 hours a day sat down. You can only imagine how these figures have increased since Lockdown #1. It’s become ever more important to stay on top of our fitness, our diets and our mindfulness during these tough times to ensure our physical health, mental health and emotional wellbeing endures the long journey back to normality.

That’s why EVORA staff chose to tackle the Feeling Fab in February Challenges. Over the course of 28 days, our staff pushed themselves to do heart-pumping exercise, get the nutritional benefit from switching to plant-based diets and practicing mindfulness.

Assigning metrics to social impact

Measuring and monitoring impact is key to implementing meaningful programmes. Demonstrating additionality – that you have meaningfully added to the lives of individuals – is arguably the most important aspect of human-centric sustainability reporting. EVORA have used some of our own activities to model reporting examples below.

Wellbeing Uplift

Through a month of activity (and nothing less than a bit of healthy competition), Feeling Fab in February encouraged our team to take part in a month of fitness, carbon-conscious eating and mindfulness. Together, and in only one month, we managed to achieve:

  • +148 additional mindfulness or meditation sessions
  • +88 additional workouts than we would have done
  • +84 additional days without meat or dairy than usual

‘’Fab February made me reflect on my current habits and encouraged me to make healthy changes to my daily routines!’’

EVORA employee

Our team felt the mental and physical benefits, as well as the benefits to social cohesion at a time when it’s easy to feel disconnected from colleagues. We are now looking for the next challenge to promote healthy habits in our home-working and beyond as we look to return to the ‘new normal’.

Social Value

We are very proud to announce that EVORA has achieved Planet Mark certification for the 7th year running. The Planet Mark is an internationally recognised certification based on sustainability standards and its mission is to help us all contribute to a thriving planet as a collective force. The certification represents an organisation’s commitment to sustainability programmes to actively reduce environmental and social harm. 

For the past two years, we have also measured our social value contribution. Social value, by definition, is the net social and environmental benefit generated to society by an organisation, expressed in ‘£’. In 2019, EVORA generated £454,644 in social value. This includes over £400,000 through actions relating to the people in our organisation and supply chain, as well as money and time donated to charitable organisations, and reducing our carbon footprint through commutes.

In 2020, EVORA generated £61,197 in social value. This has been through actions relating to the people in our organisation and supply chain, as well as money and time donated to charitable organisations, and reducing our carbon footprint through commutes.

Visit our Health & Wellbeing webpage to see the healthy building services we offer at EVORA.

EVORA Global strengthens its presence in Europe with new operations in Iberia

Sustainability in real estate across Europe has been given a boost following the announcement of a partnership between EVORA and INERIA.

EVORA Global is delighted to announce their partnership with INERIA Management, a specialist, real estate ESG consultancy offering a wide range of advisory and technical services to the property investment market, with operations in Spain and Portugal.

With EVORA’s offices in the UK, Italy and Germany, and the complementary services offered by both companies, there is a natural synergy in providing combined services for real estate clients across Europe.

The collaboration is a result of EVORA and INERIA working successfully on joint client projects providing high-value ESG consultancy services such as portfolio-wide ESG strategies, asset level audits and net zero analysis, and reporting and disclosure across Europe.

The strategic partnership further strengthens EVORA’s global growth plans whilst increasing the evolution and adoption of real estate sustainability across Europe.

Philippa Gill, EVORA Director of Europe said of the partnership:

“We have already been working closely with INERIA across the spectrum of ESG within real estate, and this partnership is a natural evolution of our joint mission to drive ESG faster and further across the life cycle of the built environment.  They share our values, and focus on excellence, and we look forward to continuing this journey together.”

Jose Titos Sola, INERIA Managing Director:

“We are proud to work jointly with a leading pan-European ESG company like EVORA. We are convinced that with this partnership we will be able to help the leading real estate companies in the Iberian market to adopt, implement, certify and report the highest ESG standards at a European and global level.”

To find out how EVORA and INERIA’s partnership can help you to create more sustainable buildings and communities, please contact us today.

Forward-looking ESG data

To integrate climate risk and sustainability into financial decisions, we need to standardise metrics, improve data quality and ensure that it is forward-looking as well as measuring past performance. For climate risk, this is an essential part of the TCFD Recommendations for integrating climate risk as an investment risk.

Climate risk is divided into three categories:

  1. Transition risk
  2. Physical risk
  3. Litigation risk

They all have forward-looking components. In ESG data terms, we can use historic data and data models to project future implications. We can do this more easily for the E in ESG because we know that we’re operating within planetary boundaries so we know there are limits. The Stockholm Resilience Centre (2015) monitors the nine planetary boundaries shown below.

Whilst this illustration doesn’t show us overshooting the climate change planetary boundary, that is because we haven’t yet. We are on track to do so with our present rate of greenhouse gas (GHG or carbon) emissions. That is why, in 2015, the UN Paris Agreement was signed by 195 states. This Agreement set us on a course to reduce emissions to Net Zero Carbon (NZC) by 2050, which keeps global warming well below 2°C, and ideally 1.5°C, to prevent catastrophic, non-linear climate change.

Over the last two years, many real estate companies and investors have committed to a Net Zero Carbon target and some have a pathway to get there. For most fund managers, they have not yet had time to project out a NZC pathway for their fund and real assets.

A science-based NZC pathway can show a clear route to reducing emissions each year. We need to be over halfway to NZC by 2030. However, local markets will move at different speeds depending on their starting point today; the local regulations; the cost of energy and carbon emissions; and, to some degree, the local awareness of a changed climate and how this forces climate adaptation. Climate adaptation will be required to protect against extreme weather events, which have become fiercer and/or more common over the past decade increasing insurance losses and premia.

These climate risks are the reason why ESG data needs to be forward-looking.

At EVORA Global, we have developed our SIERA software to be forward-looking on climate risk. We have worked on two new modules. The first is focused on NZC and transition risks and this is already available. The second builds on our partnership with Moody’s 427 physical climate risk assessment, which is used by our consultancy team. This will enable users to see both sets of climate risk in one place, associated with each asset and fund.

The screengrab below shows the NZC module, shows a real estate portfolio and the fund’s NZC pathway. This uses asset energy data from the last 9-12 months to calculate carbon emissions for the whole building. Based on asset type and location, it then automatically projects a science-based NZC pathway out to show the required emissions reduction. The tool can then be used to run different scenarios for emissions reduction based on what is know about each asset.

There are other features within the NZC module so do get in touch if you’d like to organise a demo

EVORA Global announces the hire of Ayosha Orth as Associate Director – SIERA Business Development, to further drive its expansion across Europe

EVORA Global is delighted to announce the hire of Ayosha Orth as Associate Director, SIERA Business Development. Ayosha joins EVORA Global in a pivotal year for ESG, and for EVORA, in which we celebrate our tenth year of business.

Ayosha will work closely with EVORA’s management board, the SIERA software business and the European consultancy teams to support and improve customer needs through technology enabled consultancy services and leading software products. Ayosha has a strong real estate background, especially in DACH and southern Europe, having worked for many years in the field of business development and ESG data management, most recently as Senior Business Development Manager for Measurabl. Ayosha’s multilingual skills, practical approach and understanding of Europe’s real estate investment managers’ needs, means he is a great fit for EVORA’s further expansion plans across Europe.

“I strongly believe that investing in real estate has changed for good and ESG has become part of the zeitgeist. Europe’s real estate investment managers are looking for the successful combination of innovative and tailored ESG solutions both on software and consultancy basis to deliver net-zero goals and integrate climate risk mitigation measurements into their real estate life cycle. EVORA Global successfully provides exactly those tools to meet and exceed customer specific needs. I am thrilled to be joining the most integrated and purpose-led sustainability consultancy in real estate at such a significant time.”

Ayosha Orth, Associate Director

“We are delighted to welcome Ayosha to the EVORA team. With ESG rapidly accelerating up the priority list for real estate investment, Ayosha, with his unique mix of real estate and ESG experience, paired with EVORA’s leading combination of ESG consultancy and software, provides the perfect pairing to support the market navigate through this complex and exciting agenda.”

Chris Bennett, Managing Director