How Building Information Modelling (BIM) will help to achieve your ESG goals
As an owner or developer of commercial real estate, you are likely always looking for ways to improve your properties and make them more attractive to potential tenants. One way you can do this is by ensuring that your buildings meet environmental, social, and governance (ESG) standards.
One way to help ensure that your buildings meet ESG standards is by using Building Information Modelling (BIM).
BIM is a process that provides a three-dimensional representation and database linked to model elements of a building, which can be used for everything from design and construction to ongoing maintenance and operations. By using BIM, you can ensure that your building meets all the necessary ESG criteria, making it more attractive to potential tenants. In addition, using BIM can also help you save money on operating costs by reducing the need for paper records and increasing efficiency in maintenance and operations.
If you are looking for ways to improve your commercial real estate properties, implementing Building Information Modelling (BIM) is a great way to achieve your ESG goals. Contact Desapex today to learn more about how we can help you implement BIM in your business.
Before we dive into how BIM can help achieve your ESG targets, I will try to explain and outline what is ESG and why its important for any real estate developer.
What is ESG?
Environmental, social, and governance (ESG) investing is a type of responsible investing that takes into account a company's environmental record, social impact, and governance practices when making investment decisions.
•ESG investing is a tool that investors use to measure the nonfinancial issues of a company and understand how it manages externalities associated with doing business.
•ESG initiatives are actions a company takes to lead in more sustainable and ethical ways to influence and challenge its environmental impacts (E), social impacts (S), and governance (G).
An increasing number of investors are interested in ESG investing because they want to support businesses that align with their values and make a positive impact on the world. Additionally, some ESG initiatives can help reduce risk and promote long-term growth.
ESG investing is an approach to investing that considers a company's environmental record, social impact, and governance practices when making investment decisions. The goal of ESG investing is to generate both financial returns and positive social or environmental impact
The Three Main Categories of ESG Initiatives
1. Environmental Initiatives
Environmental initiatives seek to minimize a company's negative environmental impact. For example, many companies are working to reduce their carbon footprint by switching to renewable energy sources or manufacturing more sustainable products.
2. Social Initiatives
Social initiatives seek to promote egalitarianism, diversity, inclusion, and other social factors inside and outside the workplace. For example, some companies have implemented policies that give employees paid time off to participate in volunteer activities. Others have instituted programs to increase supplier diversity.
3. Governance Initiatives
Governance initiatives seek to ensure that a company is managed responsibly and transparently with the interests of all stakeholders in mind—not just shareholders. For example, some companies have adopted "say on pay" policies that give shareholders a vote on executive compensation packages. Others have established board Diversity & Inclusion Committees to promote diversity among board members.
How Investors Can Use ESG Data To Make Informed Decisions About Where To Put Their Money
When it comes to making investment decisions, it's important for investors to do their homework and assess all relevant information about a company—including its ESG profile. Fortunately, there are plenty of resources available that can help investors research a company's ESG performance. Examples include MSCI's Barra series ratings, Bloomberg's Environmental Risk scores, Sustainalytics' ratings, and Chapel Hill Denham's Investor Perception Studies (IPS). These resources can be extremely helpful in identifying which companies are leading the charge on sustainability initiatives—and which ones are falling behind.
This increased transparency is providing investors with even more information about which companies are worth supporting—and which ones they should avoid. When it comes to making investment decisions, responsible investors are increasingly taking into account a company's environmental record, social impact, and governance practices—known collectively as "ESG." By doing so, they hope not only to earn financial returns but also to generate positive social or environmental impacts. Although there is no one-size-fits-all approach to responsible investing, understanding the three main categories of ESG initiatives—environmental, social, and governance —is a good place to
What is BIM and how can it help you achieve your ESG goals
BIM stands for Building Information Modelling and is a process that creates a digital representation of the physical and functional characteristics of a facility or building. This model can be used to help individuals measure, monitor, assess, and report on ESG (Environmental, Social, and Governance) goals as BIM can be employed to capture detailed data about the structure and how it interacts with its environment. BIM enables users to link systems together using a digital twin – an exact virtual replica of a physical asset – which allows them to simulate the environment and evaluate the performance of the real-world asset in various scenarios. BIM also facilitates access to data stored in various formats, providing key information in real-time. The BIM process also creates reusable digital objects connected through a data fabric allowing users to drag, drop and re-use data from one system/application to another - saving time and money. Its “golden thread” of information - encompassing costs, and sustainability measures – allows for better decision-making since teams can assess multiple factors such as environmental factors at any given time. BIM offers transparency across an array of data points: energy efficiency, waste management, and water purification are just some examples. From construction design, all the way through to facility management BIM can create long-term benefits while helping you achieve your ESG goals quickly and efficiently. In general, BIM has become well established as an effective tool for improving ESG initiatives due to its ability to capture detailed four-dimensional information along with cost analysis ensuring more efficient buildings are designed from the start. Together these features make BIM an invaluable tool for churches that want their buildings to achieve their compliance objectives quickly but also have them operate within their prescribed ESG guidelines over time. It is critical in today’s marketplace that churches have this availability so that they produce sustainable facilities operating efficiently for future generations.
The benefits of using BIM to achieve ESG goals
Building Information Modelling (BIM) has become increasingly important in designing and constructing structures that meet Environmental, Social, and Governance (ESG) goals. From the Life Cycle Assessment (LCA) prior to construction, Environmental Product Declaration (EPD), compliance with regulations, and environmental impact, right up to the very end of the product life cycle – BIM provides helpful tools both during construction and throughout the operations phase. As a single repository for all project information management needs, BIM’s Common Data Environment (CDE) provides performance assessment of construction projects not only in 3D but also through the integration of attribute data associated with the designed building. This helps those involved track progress toward ESG compliance from design through the lifecycle. It can help reduce carbon footprint, create awareness among stakeholders, and benchmark sustainable production progress against energy efficiency standards by progressively tracking energy use throughout the operation. What's more, options engineering using targeted value design enables maximum utilization of resources such as energy-efficient systems for everything from HVAC retention to plumbing fixtures - all tangible contributions to ESG achievement. With these elements acting together, BIM has proven itself to be an indispensable asset both during construction and throughout building operations in order to reach Energy Sustainable Goals.
How BIM can be used to track progress and performance against ESG targets
Building Information Modelling (BIM) has become an indispensable tool for tracking progress against Environmental, Social, and Governance (ESG) targets. Trackers can use BIM-enabled platforms to monitor and report on performance against ESG goals, creating a golden thread of data that follows a project through building design and construction until eventual demolition. Companies can also use digital twins as a dynamic tool to track the impact of their projects on environmental factors such as air quality, energy consumption, and water usage. BIM allows companies to access a continuous stream of detailed data they can use to meet their sustainability goals, while also creating a vibrant data fabric that helps stakeholders understand how well those objectives are being met in real-time. By leveraging BIM to track progress against ESG targets with greater visibility and accuracy than ever before, companies can eliminate compliance risk while improving the accuracy of their reporting - all while contributing to a cleaner and more sustainable future.
ESG investing is a relatively new concept that has gained traction in recent years. The abbreviation ESG stands for environmental, social, and governance. These are the three main pillars that makeup ESG investing. ESG investing is a way for investors to measure the nonfinancial performance of a company. In other words, it considers issues such as a company's carbon emissions, its treatment of workers, and its compliance with regulations.
By understanding how a company manages these externalities associated with doing business, investors can make more informed decisions about where to invest their money. While there is no guaranteed return on investment when it comes to ESG investing, many believe that it is a more sustainable and socially responsible way to invest. As more and more people begin to understand the importance of ESG investing, it is likely that it will continue to grow in popularity. If you are looking for ways to improve your commercial real estate properties, implementing Building Information Modelling (BIM) is a great way to achieve your ESG goals. Contact Desapex today to learn more about how we can help you implement BIM in your business.
We believe, investing in digital technology and processes is not merely for ROI calculation for one of the use cases, but for organizational resilience and future-proofing, we are sure the data fabric will provide a large number of use cases over a period of time, and create more opportunities for business excellence.