Does the UK’s net zero future need the EU ETS?

The 2008 Climate Change Act already commits the UK to an 80% reduction in emissions compared to 1990 levels by 2050. However, the unwritten long-term target hopefully is, or at least should be, to achieve complete carbon neutrality.


Since its inception in 2005, the European Union Emissions Trading Scheme (EU ETS) has been Europe’s flagship climate policy. It has two stated aims, namely:

  • To reduce greenhouse gas emissions in an economically efficient manner.
  • To promote investment in low-carbon technologies and energy efficiency improvements.

Approximately 15400 installations, accounting for around 45% of EU greenhouse gas emissions, are now covered by the Scheme, over 1000 of which are in the UK. However, with the Brexit negotiations looming, the UK’s place in the EU ETS is under threat.

As an EU member, the UK is currently subject to the Emissions Trading Directive, but this is unlikely to be the case by the end of the negotiation process as such a position is not compatible with the incumbent government’s Brexit rhetoric of removing European Court of Justice (ECJ) jurisprudence.

The only obvious option for the UK to remain involved in the EU ETS, whilst avoiding ECJ jurisprudence, would be to create a UK ETS and then negotiate a unilateral or bilateral linkage. Switzerland has been undergoing just such a process over the past decade, culminating in a technical-level agreement in January 2016 that is awaiting ratification.

Before beginning to debate how a UK-EU ETS relationship should be formed however, the question that we should be asking first is: is it worth it?


This seemingly simple question has a rather more complex answer. The UK economy is large enough to have an emissions trading scheme of its own, however being part of a larger trading scheme with more participants carries efficiency benefits, through increasing the volume of available low-cost abatement options and through increasing market liquidity and stability.

What is not clear is the extent to which the UK receives these benefits. Given that the EU ETS is now in its twelfth compliance cycle, there seems to be remarkably little research into the extent of the benefits the Scheme produces. With the March 2019 Brexit negotiation deadline fast approaching, the Government should give serious consideration to commissioning such a study for the UK.

The EU ETS is also far from perfect which, to be fair, is to be expected given that it was the first, and continues to be the largest, emissions trading scheme in the world. The large surplus of allowances, a lingering remnant of the 2008 financial crisis, and the persistently low and unstable allowance price are the stand out issues, and add up to mean the EU ETS is not functioning as well as it could.

The majority of the EU ETS’ regulatory design features could simply be replicated in an independent UK ETSClick To Tweet

If the UK Government wishes, the majority of the EU ETS’ regulatory design features could simply be replicated in an independent UK ETS. Therefore, the decision of whether to remain involved in the Scheme boils down to weighing the aforementioned economic efficiency benefits against the issues the EU ETS is facing and the challenges of negotiating an acceptable linkage deal for both parties.


The UK business community should seek to take greater ownership of this issue, firstly by pushing the Government to conduct the necessary research to make this decision properly, and secondly by each firm reflecting themselves on what the EU ETS does or does not do for them in the pursuit of carbon neutrality. As the global threat of climate change grows, stricter environmental regulations are inevitable, but high costs don’t have to be. Emissions trading schemes are a proven mechanism for producing low-cost emissions abatement, but to get the most out of them they must have the right design. Is the EU ETS right for the UK? This is something we need to work out.

This blog was originally published on Edie.net

GRESB 2018 Top Tips. Part 2 of 2

Looking to boost your GRESB 2018 score but not sure where to start? Never fear, as here at EVORA we have conducted extensive analysis of results and come up with some tips and tricks for picking up points.

Read Part 1 ‘What have we learnt from the GRESB 2017 results?here.

Visit our GRESB support service page.


GRESB 2018 Top Tips

1. Get an EMS

An Environmental Management System (EMS) is an organisation-level framework for the review, evaluation, and improvement of environmental performance. When aligned with the ISO 14001 standard, an EMS is immediately worth 2.5 points on the GRESB survey. Furthermore, an EMS helps you plan and direct environmental action to areas of the business where it will have the biggest effect, which will in turn generate further GRESB points. If you don’t have one already, our experts here at EVORA can help you develop an EMS uniquely tailored to the wants and needs of your organisation.

2. Data Data Data!

The methods for data collection and the extent of data coverage are huge elements of your final GRESB score, so getting a well-organised process in place is crucial for good performance. Table 1 summarises where data matters in the GRESB survey and how EVORA can help:

GRESB Analysis Fig 4

Table 1: The points available in GRESB 2017 for data capture and management

We are still waiting to hear if there will be any changes to the scoring for GRESB 2018, but we can guarantee that data capture and management will have a huge part to play again.

To find out more about our specialist data management software, visit the SIERA page or give the office a call on +44 (0)20 3266 7333 and we will be happy to tell you more.

3. Get Audited

Conducting technical building assessments is a great way to improve environmental performance, and another opportunity to rack up GRESB points. GRESB does not fully disclose the scoring system for the technical building assessment question, but by analysing client data we have developed a strong understanding of the scoring model used in the 2017 survey, based on the percentage coverage (by lettable area) where audits have been completed:

GRESB Analysis Fig 5

Table 2: Approximate scoring categories for GRESB Q16: Completion of Technical Building Assessments by floor area coverage

Whilst the overall question is scored out of 4.5, each category of assessment has its own limit to the points that can be achieved, and is then subdivided into four scoring categories based on portfolio coverage.

An important point to note is that we found no instances where a portfolio had some coverage but scored no points. This means an assessment of any type conducted anywhere, even on the smallest of assets, will immediately get you GRESB points.

This means an assessment of any type conducted anywhere, even on the smallest of assets, will immediately get you GRESB pointsClick To Tweet

Furthermore, such assessments actively seek to identify opportunities for efficiency improvements. These opportunities not only helps you to save on utility bills, but can improve your scores on GRESB Questions 17 and 18, which relate directly to the implementation of energy and water efficiency measures. Our team of experts is experienced in the completion of all kinds of audits, so get in touch to learn more about what we can do for you.

4. Get Certified

With a global average score of just 46, the Certification & Energy Ratings section is the GRESB aspect where there is most room for improvement. It is also something we know all about here at EVORA.

The scoring for Question 30 (regarding green building certificates) is a little complex, but essentially the portfolio coverage of New Construction and Operational certificates are benchmarked against that of other entities in your region within each GRESB property type, and you end up with a score for each property type of either 2, 4, 6, 8, or 10. All the scores are then weighted based on Gross Asset Value, and combined into a final question score out of 10. A full description of how the scoring was done can be found in the GRESB Reference Guide, or alternatively get in touch and we’ll be happy to explain it in full.

GRESB Analysis Fig 6

Figure 3: Points Scored vs New Construction certificate coverage for European offices in GRESB 2017

The key take-away is that there are real opportunities to pick up lots of points here. This is because the current low level of certification in real estate portfolios worldwide means that the benchmarking procedure used bottom-loads the scoring. As a result, even small amounts of certification coverage in your portfolio can score well, particularly if you have a combination of both New Construction and Operational certificates. Figure 3 focuses specifically on New Construction certificates amongst European offices, a particularly well certified property type, and shows that less than 50% certification coverage would have scored 8 out of 10 for this property type in GRESB 2017. Other property types benchmark even lower, so require even less coverage to rack up points.

BREEAM In Use, as one of the most widely recognised and respected certification schemes in the world, is an ideal choiceClick To Tweet

Of course, as certification becomes more popular worldwide this will drive up the benchmark percentages, but don’t let that dissuade you from an excellent opportunity to improve your GRESB score. BREEAM In Use, as one of the most widely recognised and respected certification schemes in the world, is an ideal choice, and is a service that we can provide. Get in touch to learn more.

Changes for the 2018 survey

Because of the constant shifting nature of sustainability and the real estate industry, GRESB reviews its survey each year and tends to make some changes to the scoring system. These are yet to be announced but, as a premier partner, EVORA is at the heart of the process, has a strong idea of how it will evolve, and is keeping tabs on GRESB releases on our clients’ behalf. Check out this blog by our Founder & Director Ed Gabbitas on GRESB’s ongoing review as an example.

We look forward to supporting you through GRESB 2018!

For enquiries regarding GRESB support or any other of our services, give our office a call on +44 (0)20 3266 7333, or email us at info@evoraglobal.com.

 


GRESB Premier PartnerAs a GRESB Real Estate Premier Partner, we are perfectly positioned to provide GRESB support. View our official Premier Partner profile.

We can work with you to complete the submission and understand your scoring, as well as develop a sustainability plan that will improve your future GRESB performance and align with your organisation’s key environmental objectives.

What have we learnt? GRESB 2017 Analysis. Part 1 of 2

The GRESB 2017 results show that comprehensive support from EVORA significantly improves performance, helping you maximise and showcase your environmental credentials and add value to your portfolio.

Visit our GRESB support service page.


The GRESB 2017 cycle is officially over. The points have been tallied, the reports released, and the winners named. But there’s no resting up here at EVORA; we are already hard at work helping our clients prepare to do even better in GRESB 2018. This blog will show you how the support of our team of experts has boosted GRESB 2017 performance for our clients, and share some tips and tricks we have devised ahead of 2018.

GRESB Analysis

Figure 1: Overall GRESB score in 2017

In the 2017 cycle, EVORA provided a comprehensive ESG development and GRESB support programme for 26 real estate funds, and the results speak for themselves. Whilst the average score in GRESB 2017 was 63, clients that received comprehensive support from EVORA averaged 67.

GRESB Analysis 2

Figure 2: Comparing the change in GRESB score for funds that took part in both 2016 to 2017

Furthermore, whilst GRESB participation is driving increases in sustainable performance across the board, reflected in the year-on-year GRESB average score increase of 3 points, EVORA is pushing its clients to another level, averaging an increase of 8 points amongst those who took part in GRESB 2016 (Figure 2). One fund we worked with also came first in its peer group, showing that EVORA can help even the most ambitious clients realise their goals.

GRESB Analysis 3

Figure 3: Comparing the average GRESB Aspect scores to that of our clients

Not convinced? Let’s break this down a little further. The GRESB survey is divided into seven key aspects, which are then combined to give the overall GRESB score. Using these categories as indicators, Figure 3 shows how our clients managed to improve considerably more than other GRESB participants. The strong results were driven in particular by high scores on the Monitoring & EMS and the Certification & Energy Rating aspects; key areas of expertise in our consultancy team here at EVORA. Furthermore, our vast experience producing GRESB submissions means we can help you collate all the relevant evidence and script your text box answers to ensure you get every point you deserve, the benefit of which can be seen in the strong Management and Policy & Disclosure aspect results.

Our vast experience producing GRESB submissions means we can help you collate all the relevant evidence and script your text box answersClick To Tweet

Still not convinced? Not sure GRESB is worth the investment? Well, not only does sustainability and resource efficiency reduce operational costs in assets, now environmental and social responsibility are increasingly common demands from investors. GRESB is the world’s leading benchmark for these issues, and a good score will go a long way to proving your commitment to tackling ESG challenges to both investors and the wider public, helping to protect and enhance the value of your portfolio.

Contact us for more information about how we can help with GRESB 2018

Look out for part 2, coming soon!

 


GRESB Premier PartnerAs a GRESB Real Estate Premier Partner, we are perfectly positioned to provide GRESB support. View our official Premier Partner profile.

We can work with you to complete the submission and understand your scoring, as well as develop a sustainability plan that will improve your future GRESB performance and align with your organisation’s key environmental objectives.

Net Zero and Science Based Targets – Connecting the Dots

This blog is part of our Net Zero series for World Green Building Week 2017 – read more here.


I was recently asked how Science Based Targets are connected to Zero Carbon Buildings – hmmm, I thought, interesting question.

Let’s start with the definitions.


Science Based Targets

In response to mounting environmental, social and political pressure, organisations have recently begun setting science-based GHG emissions reduction targets (‘science based targets’ or SBTs). In doing this, companies are committing to bringing their operational activities and resultant emissions in line with the level of decarbonisation required to keep global temperature increases below 2oC compared to pre-industrial temperatures. Optional third-party approval of alignment to approved methodologies is managed by www.sciencebasedtargets.org, which is supported by the WWF, CDP, UNGC and the WRI.

The SBT approach is being adopted by companies across multiple sectors as the basis for setting long-term goals for GHG emissions reductions. Importantly, in the long-term the SBT approach may be adjusted to reflect advances of climate science and economic modelling (e.g. to target a 1.5oC increase in global mean temperatures).

A SBT approach may be adjusted to reflect advances of climate science and economic modellingClick To Tweet

Net Zero Buildings

Net zero buildings are highly energy-efficient buildings which uses on or off-site renewable energy sources – to achieve net zero carbon emissions. This definition encompasses all asset classes:  homes, offices, shops, stadiums and theatres of the future.

WorldGBC support the ‘Advancing Net Zero’ project – its aims are to ensure that:

  • All new buildings and major renovations should be net zero starting in 2030, meaning no buildings should be built below net zero standards beyond 2030. All buildings should be net zero by 2050
  • 75,000 professionals are trained on net zero building design and operation by 2030, and 300,000 by 2050.

Laudable – and I can see the 2030 target working with a combination of innovation, creativity and targeted regulation (a carrot and stick approach).  However, the aspiration to ensure that all buildings are net zero by 2050 if a big one.  We are less than 33 years away from this deadline and buildings are designed with much longer life-spans.  The speed of conversion and renovation must therefore increase significantly.  In the UK, Minimum Energy Efficiency (MEES) legislation will ban the leasing of buildings with F and G ratings from 2018.  However, net zero buildings have EPCs of A+ not D.  So, in short, at least in the UK, there is a long way to go.


The Connection?

I believe in SBTs – they require that organisational carbon targets are set in line with the global context and can be all encompassing, covering operational, supply chain and even embodied carbon emissions. However, it should be noted that at least for commercial property, the SBT approach doesn’t actually require that all properties become zero carbon by 2050; rather, a minimal level of carbon emissions performance must be achieved (e.g. ~13kgCOe/m2 by 2050).

As such, a science based target is actually – relatively speaking – less stretching than a net zero building.

Furthermore, science based targets are set at the fund, portfolio or even company level, whereas the net zero buildings agenda is targeting all buildings. SBTS are therefore more flexible.  SBTs can be met based on the average performance of a portfolio, with some inefficient and other efficient assets, which on balance are in line with a 2oC world.

In my opinion though, net zero buildings are a very worthy aspiration and will support any organisation in its aim to achieve performance in line with internationally agreed emissions targets. Certainly for new builds, I think we should be targeting net zero carbon. For existing assets, the challenge is substantial; however, one that we as an industry should be grabbing with both hands.

Net zero buildings are a very worthy aspiration and will support any organisation in its aim to achieve performance in line with internationally agreed emissions targets.

We need a joined-up approach, supported and incentivised by Government, as refurbishing all existing assets is a massive job and should be considered as a national infrastructure project.  However, delivery will ultimately need to be managed by both Government and Business working in partnership.

For existing assets, the challenge is substantial; however, one that we as an industry should be grabbing with both hands.Click To Tweet

We need:

  • A strong approach from Government– balancing regulation with incentivisation
  • Visionaries – organisations prepared to lead, to continue to progress the sustainability agenda
  • Communication and voice – organisations like the WorldGBC,  UK-GBC and the Better Buildings Partnership to promote and
  • Adoption

Now, as they say, ‘that’s a big ask’.

However, so much [read everything] is at stake

Come on Property Industry – let’s take the lead!

110 Seconds To Understand How SIERA Sustainability Software Can Help You

Watch Our New Video Now!

Watch our new animated explainer video for SIERA, which gives you a high-level overview of everything our innovative sustainability software solution can do for you.

Depending on where you are and how convenient it is to watch a video, you can:

1.     Watch the video with the sound on – recommended

2.     Watch the video with the sound off – the captions will allow you to follow along

3.     Read the video script, which is pasted below for your convenience

We hope you enjoy the video and that you will want to learn more by attending one of our webinar demonstrations or getting in touch to book a one-to-one demo.

Thanks for watching!


SIERA Sustainability Software – the right choice for your business


Video Script

Every year, environmental management becomes more complex and reporting requirements become more stringent.

Which is why the sustainability experts at EVORA came up with SIERA – a unique and innovative software solution.

Not only does SIERA make all your sustainability reporting easy – it also enables you to quickly identify energy savings in your buildings.

Not only does SIERA make all your sustainability reporting easy – it also enables you to quickly identify energy savings in your buildingsClick To Tweet

Never before has collecting and validating your environmental data been so easy. Whether it’s automating data collection, or dragging and dropping your data from Excel files, SIERA makes a complex process simple.

The intelligent modelling capability covers a range of regulatory and voluntary reporting requirements, quickly and intuitively.

In fact, SIERA saves our clients up to 70% of their time spent on GRESB reporting.

SIERA also gives you an overview of your property and portfolio performance, helping you mitigate regulatory risk and prioritise improvement opportunities.

SIERA’s ground-breaking Energy Monitoring and Targeting module automatically alerts you to energy efficiency opportunities.

Savings are easy to identify and can be achieved without any capital expenditure.

SIERA gives you an overview of property and portfolio performance, helping you mitigate regulatory risk and prioritise improvement opportunitiesClick To Tweet

Whether you’re seeking a hands-on solution, or a fully managed service with EVORA’s expert consultants – SIERA is the right choice for your business.

SIERA is already managing over 4,000 properties and is being rapidly adopted by large organisations across the globe.

Isn’t it time you used SIERA too?


 To learn more about SIERA and discover how it can save you time, stress, and money, please get in touch today to arrange a demonstration.

 


GRESB Premier PartnerAs a GRESB Real Estate Premier Partner, we are perfectly positioned to provide GRESB support. View our official Premier Partner profile.

We can work with you to complete the submission and understand your scoring, as well as develop a sustainability plan that will improve your future GRESB performance and align with your organisation’s key environmental objectives.

BIM:SAM – A Revolutionary Way To Optimise And Future-Proof Your Buildings In A Digital Age

Strategic asset management within the BIM environment; bringing all the information you need into one building model

EVORA EDGE‘s remit is to support clients to implement sustainability at both fund and asset levels. We do this by helping to design, deliver and manage technical engineering solutions to the built environment. To support our delivery of these technical services, EVORA EDGE has developed an innovative management approach, which we call BIM:SAM – Building Information Modelling for Strategic Asset Management.

BIM:SAM is nothing mysterious or untested. It’s our way of delivering a connected, intelligent approach to designing, maintaining, monitoring and reporting asset performance within the Commercial Real Estate sector.

BIM:SAM is our approach to managing the many challenges that exist within commercial real estate, and is our way of future-proofing properties in a digital age.Click To Tweet

BIM:SAM – a ‘one stop shop’ for managing real estate challenges.

  • Building Information Modelling (BIM) is an intelligent 3D model-based process that gives architecture, engineering, and construction professionals the insight and tools to more efficiently plan, design, construct, and manage buildings and infrastructure.
  • Strategic Asset Management (SAM) involves the balancing of costs, opportunities and risks against the desired performance of assets.

EVORA has created a methodology for combining BIM technologies with SAM processes into a ‘one stop shop’ solution that informs the building management process, resulting in a useful transferable asset – the building information model.

The schematic below demonstrates how, acting as a technical manager, we use BIM:SAM to manage commercial real estate and developments.

BIM:SAM Fig 1

As you can see, the BIM can be created for a number of solutions, such as a high-level MEES risk assessment, a Health and Wellbeing study, or as part of a building services design project.

Whatever the requirement, the same BIM can be used as a ‘digital passport’ for your building, recording data and information of the building and its services – one model, multiple functionalities.

The launch of BIM:SAM now provides a ‘one stop shop' approach to delivering M&E technical consultancyClick To Tweet

Merging real intelligence and innovation with strategic asset management.

The typical M&E/FM service model below illustrates how the M&E consultant’s role can be restricted to periodic checking and/or specific project involvement:

BIM SAM Fig 1

Conversely, our BIM:SAM model below illustrates how EVORA EDGE, as a Technical Manager, continuously interacts with the Property Manager by using a dynamic building information model.

This BIM can be integrated with our SIERA software to create a powerful monitoring and targeting (M&T) toolset. BIM:SAM merges real intelligence and innovation with strategic asset management.

BIM SAM Fig 3

At the heart of BIM:SAM is the relationship between our Technical Manager and the Property Manager. We develop and provide the building information model that informs the decision-making process.

Within our model and our SIERA platform, we collate the information required such as energy usage, CO2 emissions (embodied carbon and operational), asset condition reporting, maintenance scheduling and life expectancy reporting.

By using a dynamic BIM model, alongside monitoring and targeting through our SIERA software, we can bring real intelligence and innovation within the strategic asset management approachClick To Tweet

Outputs that are easily integrated and simple to understand.

EVORA EDGE is experienced in using BIM processes to manage MEES risks, engineering and energy efficiency, resource efficiency and capital cost planning.

Our systems follow the recommendations in the RICS New Rules of Measurement (NRM) Order of cost estimating and cost planning for capital building works. This ensures that any outputs can be easily understood and integrated into capital cost planning and asset management by non-engineering professionals.


BIM:SAM in action.

Guildford Borough CouncilGuildford Borough Council case study

We used our BIM:SAM approach to undertake an exciting project for Guildford Borough Council, supporting it with its CO2 reduction strategy.

Download our Guildford Borough Council case study here.

EPAM

We have been appointed by our client EPIC Property Asset Management Ltd (EPAM) to conduct a BIM:SAM project at 120 Old Broad Street – a 49,000sqft multi-let office building. We look forward to sharing the results of this work soon, and at X Energy 2017 in October, at which we are the Building Optimisation Partner.


The benefits of our BIM:SAM approach:

  • Managed by technical M&E specialists
  • Centralised data collation, consistent processes and simplified reporting structures
  • BIM ‘Digital Passport’
  • Data quality and performance modelling
  • Conditioned-based monitoring and intelligent PPMP
  • Performance Management – energy and productivity
  • Future-proofing of assets
  • Health and Wellbeing planning
  • Improved fund performance

BIM:SAM Brochure cover image
To learn more about BIM:SAM and how it can revolutionise your approach to asset management, please don’t hesitate to get in touch or download our BIM:SAM brochure for all the information in a handy PDF.

 

How To Use A Data Management System To Improve Your ESG Performance

Data Management: stop guessing and start making informed decisions that achieve real results!


Antoine de Saint-Exupéry once said “A goal without a plan is just a wish”.

I couldn’t agree more. Without a plan, you’re basically lost and hoping you’ll get to where you want to go. But to make a plan you need to know where you are, what is on the road ahead of you, and understand if you’re heading in the right direction. In the world of sustainability this is where data comes in.

As I mentioned in my last blog, we create massive amounts of data in our buildings every day. The challenge is making sense of it all, allowing us to understand what the impacts of our actions are, and what we need to do (or not do) to reach our end goal.

A data management solution, therefore, is essential in helping you achieve your objectives – understanding your data will allow you to understand your challenges and make the right decisions.

How To Use A Data Management System To Improve Your ESG Performance EVORA

A picture is worth a thousand words. Quickly understand your data and the results of your improvement actions using SIERA’s powerful visualisation tools.

Using SIERA, we have been able to identify energy savings of between 10-15% on average for our clients, without any CAPEX costs. Let’s put this figure into perspective for a moment: Investment buildings consume around 40% of the worlds energy and contribute up to 30% of Greenhouse Gas (GHG) emissions. Imagine what results we could achieve collectively, globally, with said 10-15%  energy savings!

More than 95% of the world’s building stock is in existing buildings, and although we are making great advances in green technologies for new buildings, we need to make sure that we optimise the use of our existing ones as well.

Besides the potential of energy savings and GHG reductions, there are many other benefits to managing and sharing your data:

  • You can find and understand your data, allowing you to make more informed decisions
  • Business continuity if staff leave or new team members join
  • Avoid unnecessary duplication e.g. re-collecting or re-working data
  • Sharing data leads to more collaboration amongst teams
  • Improved scores on sustainability benchmarks through better management/data collection

Data management is not just about collating and reporting out the data. It is about understanding the data you’re producing to make informed decisions based on the results of your actions.

“However beautiful the strategy, you should occasionally look at the results.” – Sir Winston Churchill


If you would like to learn more about the positive impact a data management system can have, please join our experts and GRESB on July 6th at 9.30 BST at our free webinar. More details on the webinar here.

In one hour, you’ll see how easy it can be to improve the energy efficiency and sustainability of your buildings, and achieve your ESG goals!


Book Your Place Now Button 2


PS – SIERA is now on Twitter! Here’s our first Tweet, which has already got people talking!

 

Webinar: How To Save Up To 70% Of Your Time On GRESB Using SIERA

UPDATE: This webinar is no-longer GRESB specific. We will still be showcasing the GRESB automation functionality, but due to high demand we will also be demonstrating SIERA’s other features, such as its M&T module, which has been described as ‘groundbreaking’, ‘visionary’ and ‘the best system of its kind’. Trust us – you’ll want to see this! Scroll down to book now.


Goodbye spreadsheets, hello automation!

We are delighted to be partnering with GRESB on this upcoming webinar.


GRESB

What?

How to save up to 70% of your time spent on GRESB using SIERA. Discover how SIERA automation saves you time and stress by delivering immense GRESB reporting efficiencies.

When?

Thursday July 6th 2017, 09:30 – 10:30 BST

Who for?

This webinar is for all GRESB participant organisations, or those who are thinking of responding for the first time in 2018.


Don’t let GRESB reporting and multiple spreadsheets cause you undue stress next year. There’s a better way!

This live demonstration will show you:

  • How simple yet powerful SIERA is, and why it ‘wows’ everyone who sees it
  • How SIERA has revolutionised the collation of data in a format that enables Performance Indicator reporting thanks to its highly efficient drag-and-drop functionality
  • How the responses for various questions, including R5.1 (portfolio characteristics) and Q31 (EPC coverage), have been automated, thereby delivering even greater efficiencies
  • How easy it is to get started and how our expert consultants and SIERA will do the hard work for you

Following the demo, there will be a Q&A session with a representative of GRESB.


If any of this sounds appealing, what have you got to lose by attending this short free webinar?

 

Book Your Place Now Button 2


I'm joining GRESB and EVORA on this upcoming webinar to learn about GRESB reporting automation using SIERA!Click To Tweet

 


GRESB Premier PartnerAs a GRESB Real Estate Premier Partner, we are perfectly positioned to provide GRESB support. View our official Premier Partner profile.

We can work with you to complete the submission and understand your scoring, as well as develop a sustainability plan that will improve your future GRESB performance and align with your organisation’s key environmental objectives.

Greater Automation in SIERA Delivers Even Greater GRESB Reporting Efficiencies

It’s that time of year again; GRESB reporting has the potential to take over your life.

The complexity in pulling together the varied data elements alone can be enough to make you want to pull your hair out! But GRESB continues to gain momentum and there is no doubt it is mobilising many organisations to take action to collate and better understand their environmental data, which should lead to performance improvement.

So is there a magic solution to deal with the complexity of GRESB data reporting?

Well yes, actually!

GRESB has allowed the automated transfer of Performance Indicator (PI) data from sustainability management software systems, such as SIERA, directly into the GRESB portal for the last few years.

SIERA, our proprietary sustainability software developed specifically for the real estate industry, was one of the first software platforms to transfer PI data directly into the GRESB portal, which we implemented for the 2015 reporting year.

The PI automation, together with SIERA’s revolutionary ‘Drag & Drop’ data loading capability has seen efficiencies of at least 70% in delivering GRESB reporting.

EVORA GRESB Reporting Efficiencies

SIERA automatically uploads and sense checks data for your GRESB submissions, reducing the risk of human error and saving up to 70% of your time versus manual uploading.

Automating the reporting is only one-half of the challenge. The potentially bigger half is the collation of the data in a format that enables the PI reporting. SIERA has revolutionised this process through its highly efficient ‘Drag and Drop’ data loading functionality – never before has loading and validating sustainability data been so easy and efficient.

SIERA’s Drag & Drop data loading capability has seen efficiencies of at least 70% in delivering GRESB reportingClick To Tweet

Even more GRESB reporting efficiencies for 2017?

This year, GRESB has gone a step further and incorporated additional questions, beyond the PI reporting, into their Asset-level Integration – an asset level template that can be interfaced into the GRESB portal providing semi-automation. These include some qualitative questions around whether the reporting entity monitors energy, water or waste (Qs 23 -24) as well as well as completion of technical building assessments (Q16).

SIERA has already built these into its GRESB Asset Interface template. But we’ve gone a step further with SIERA and automated the responses for R5.1 (portfolio characteristics) and Q31 (EPC coverage) delivering further efficiencies and simplification to the GRESB reporting process.

SIERA: it’s leading the way in GRESB data automation and reporting.


 To learn more about how SIERA can deliver GRESB reporting efficiencies, please don’t hesitate to get in touch.

 


GRESB Premier PartnerAs a GRESB Real Estate Premier Partner, we are perfectly positioned to provide GRESB support. View our official Premier Partner profile.

We can work with you to complete the submission and understand your scoring, as well as develop a sustainability plan that will improve your future GRESB performance and align with your organisation’s key environmental objectives.

The secret to future-proofing your portfolio. How data can make your buildings more productive, profitable and resilient to change.

Notes from the 2017 GRESB-Siemens Spring Conference.


Some colleagues and I attended a fascinating event a few days ago organised by the Global Real Estate Sustainability Benchmark (GRESB) and Siemens which focused on climate change, the contributions real estate makes to emissions, and our ability to make significant changes by shifting the paradigm.

One of the things that struck me was the bi-polar tone of the discussions at the event. Speakers and attendees would swing from dark, pessimistic views of the status quo to wildly enthusiastic proclamations about some of the amazing latest trends and technologies that are coming out. And you know what? They’re right. The current status quo is unacceptable, but sustainability and environmental responsibility is slowly becoming a more mainstream part of the decision-making process. But in an industry that can be resistant to change we must justify the push for sustainability within real estate with cold hard data. Without this we have no chance of bringing about the change we all know is necessary.

If the industry is not pushing to engage all stakeholders, then we will never make the changes we want to see. Sustainability is often spoken about by sustainability professionals in a ‘Sustainability Silo’ and we spend our time shouting at ourselves in our own echo chambers. As much as the rest of the market needs to recognise the importance of sustainability in terms of reducing risk and making assets more productive, as sustainability practitioners we need to get out there and prove our points with data.

Reliable data is clearly still an issue as 65% of the GRESB-Siemens Spring Conference attendees highlighted that they wanted more data to drive the sustainability agenda.

65% of the GRESB-Siemens Spring Conference attendees highlighted that they wanted more data to drive the sustainability agenda.Click To Tweet

Getting data these days is not a problem. Every year we produce and collect more data than has existed in the entire history of humankind before. But with so much data, how do you make sense of it all? ‘Dark Data’ is one of the challenges that we’re facing. We have become so inundated with information that we’re unable to make informed decisions. Data is knowledge, and knowledge is power, but only if you understand it.  This is why sustainability data management systems are so valuable to the real estate sector.

To make buildings more efficient and productive, as a first step, you don’t need to invest tens or hundreds of thousands of pounds in new LED lighting, fancy new lifts or filtration systems (although they do help of course). No, firstly you need to use the data you’re already creating and use it to get the basics right. At EVORA, we have developed our own sustainability data management software called SIERA, which simplifies the process and helps make sense of data in the operational sphere to support strategic decision making.

Through our suite of SIERA managed solutions, we have been able to help identify efficiencies of 10-15% per annum for our clients, without any capex costs. Not only is this a long-term benefit for the asset, it is also a competitive selling point in the short term.

Within the CRE sector, there is disagreement about whether ‘green premiums’ actually exist. Will a tenant pay more for a more sustainable building? Maybe, maybe not. But I am confident that tenants will be interested in a ‘green discount’. If an asset manager can make their building more efficient and thereby reduce the service charge and operating costs for their tenants, this will make the building more attractive. At EVORA, we have been able to achieve £0.54 per square foot reductions in service charge through no-cost actions using data as the primary enabler. Let’s say a tenant based in Office A has 10,000 square feet of space, that is a saving of £5,400 p/a. The asset manager would likely not have been able to achieve these savings without the data to identify the points of improvement, which demonstrates why it is so important to have an automated software like SIERA within a property to make it more competitive.

Fact: you can achieve reductions of £0.54 per square foot in service charge through no-cost actions using data as the primary enablerClick To Tweet
120OldBroadStreetFINAL

SIERA helps you identify areas to improve energy efficiency at both asset and fund/portfolio level.


One could argue that the cost of energy today is so low that this isn’t a priority, but the point of sustainability is not about the short term. Harnessing the power of the data that is created in a property and being able to easily translate and utilise that data to make high ROI improvements is about future-proofing investments.

Fund managers have a fiduciary duty to manage assets in the most responsible way possible and, by ignoring the raw data that their properties are already producing, they’re missing a huge opportunity.

It was interesting to hear the honest answer from a fund manager at the GRESB-Siemens conference, who made it quite plain that he doesn’t prioritise sustainability when evaluating new acquisitions, but he recognises the increasing importance of sustainability in transactions. Although fund managers are perhaps not seeing the short-term value in integrating sustainability within organisations, it is becoming increasingly clear that it now forms an essential part of mitigating risk for the medium to long term.


EPC Screenshot

SIERA’s EPC profiler allows you to easily analyse your medium to long-term risks and identify short term areas of improvement.


By implementing sustainability data management systems, asset or fund managers can utilise the existing data in their properties to make them more attractive for tenants in the short term and to make them more resilient to environmental and economic shocks in the long term.  However, they can only do this if the dark data they produce is brought into the light by systems like SIERA.

How asset and fund managers are bringing their dark data into the light with sustainability software like SIERAClick To Tweet

Fund managers are now able to use this new data by comparing their performance against the rest of the market through GRESB benchmarking. This information allows them to understand their own performance and identify points of improvement, but also benchmark themselves against their competitors.

This is becoming increasingly important as investors and occupiers put a stronger emphasis on the sustainability and environmental performance of buildings.


GRESB Reporting Screenshot

SIERA automatically uploads and sense checks data for your GRESB submissions, reducing the risk of human error and saving up to 70% of your time versus manual uploading.


As human beings, we have a responsibility to take care of the world we live in and it is changing at a faster pace than ever before. With the signing of the Paris Agreement in 2015 I believe the world recognised its ‘tobacco moment’ and the impact that real estate has on the emissions we produce. Unfortunately, some of the market is still stuck in its ‘smoker’s dilemma’ where they don’t see any noticeable change by not optimising their existing real estate infrastructure, but rest assured those in the market who have recognised and acted on the risk of unsustainable properties will be more competitive and resilient to shocks to the market in the near or long-term future.

The only constant is change and we live in a world of change on steroids. Those organisations who wait on government legislation or markets to force their hands will be left behind.

The future belongs to the brave, and data is knowledge.


To discover how SIERA can help improve the value of your portfolio, please contact us today.


Questions about GRESB? Need submission support? We are a GRESB Premier Partner. Please contact us today for any enquiries.


GRESB