The application of environmental, social, and governance (ESG) risk management helps an organization determine how its operations impact both society and the environment. It serves as a way to connect facilities management to a broader picture, including customers, regulations, and the ecosystem. Today’s Facilities Managers have access to more data for making informed decisions, including those that affect energy use, guest experiences, and compliance with applicable regulations. Through data-driven, proactive facilities management, actionable facilities data powers ESG management.
The Problem With Assumption in ESG
The assumption in ESG management means failure to recognize how an organization’s activities affect customers, the environment and governments, and vice versa. Inability to track energy-related data leads to poor decision making, resulting in lower energy efficiency and higher overhead costs. It all goes back to poor visibility in operations. Moreover, a business cannot realistically judge its level of corporate social and environmental responsibility, i.e., be “green,” without the use of data. In addition, managing data presents another challenge. The volume of data generated with today’s systems and assets cannot be managed manually, and today’s connected systems generate 2.5 quintillion bytes of data per day, says Office Space Software. THAT IS 2,500,000,000,000,000,000 BYTES. It is too much to handle with traditional systems, and advanced technologies, including big data analytics, can lessen the burden. Again, such capabilities require data to function and built based on an effective ESG strategy.
Implement an ESG Strategy That Leverages Actionable Facilities Data
As explained by GreenBiz, the use of actionable facilities data enables sustainable investing. Of course, the same practices that empower ESG management with data also serve to increase the sustainability of a company. Such benefits realized through actionable facilities data include:
- Improved guest experiences.
- Less blowback from watchdog groups.
- Positive press for the organization.
- Decreased energy costs.
- Increased asset life expectancy.
- Improved compliance with applicable emissions standards.
- Enhanced planning for additional upgrades that promote sustainability.
Tips for Using Actionable Data in ESG Planning
Sustainability programs and actionable facility data have similar objectives. To maintain a corporate sustainability program, Facilities Managers must have access to data, and data must be timely, accurate, and insightful, says Environmental Leader. Follow these tips, and consider how each example leads to actionable data application in ESG management:
- Retrofit facilities with wireless sensors to collect data, giving rise to the dual use of data in managing current energy use.
- Automate data aggregation and visualization, which enables ESG through improved forecasting and offers an advantage in determining a company’s future impacts.
- Use big data analytics to understand data, empowering Facilities Managers with the means to make improvements that reduce adverse effects from poor ESG management.
- Automate system controls to ensure continuous optimization of resource use, helping team members focus on work, not changing system settings, leveraging artificial intelligence, and smart platforms to reduce costs.
- Refine maintenance schedules to reflect data-driven insights, including the creation of a preventive, predictive maintenance program, eliminating the high cost of reactive maintenance and reducing waste.
- Leverage dashboarding tools to share reports and KPIs, as well as ensure all team members understand how their actions translate into ESG-conscious outcomes, providing the critical transparency needed for effective ESG management.
Empower Your Team With the Right, Strategic Partnership
Facilities data that one cannot take action on contributes to excess facilities spend, a higher total cost of ownership, declines in guest experiences, and even lost eligibility for government-sponsored incentive programs, not to mention the risk of fines. Instead of trying to focus on what might work, make sure it will work by implementing a smart building platform now. Visit ENTOUCH online to empower your team with the actionable data-driven systems needed to focus on ESG and continuous improvement today.