Building on change: ESG strategy for your construction projects
Buildings are responsible for around 40% of global energy consumption, a quarter of global water usage, and a third of greenhouse gas emissions. It is clear that the construction industry has an important role in the global initiative to reduce gas emissions and mitigate climate change. Investors are concerned about ESG (Environmental, Social and Governance) issues and recognize that strong sustainability metrics make properties more marketable, attract tenants, increase property value, and lead to higher profitability.
The British Business Bank describes ESG as a collective term for how a business impacts the environment and society. The “E” – environmental – covers aspects like the types of materials used, the construction methods, waste management strategies, and future-proofing design. When it comes to the “S” – social – element, this includes investing in fair and equal opportunities and conditions for employees, ensuring that products used are safe and customer data is secure, providing training and supporting health and safety. The approach to good governance – the “G” – means a well-run business, managed by diligent individuals, with better results for the society.
Rating systems such as BREEAM, LEED, WELL and WiredScore play an important part in assessing the environmental credentials of a project and our assessors at Optim Project Management offer a wide range of expertise, including ecology, energy, acoustics, structural, mechanical and electrical engineering and materials specification. We provide pre-assessment and coordination during the certification process, register and submit all the documentation and help the clients during the construction period, to comply with the requirements of the respective standards. For the ongoing recertification, we assist the clients with the operation and maintenance manuals.
BREEAM (Building Research Establishment Environmental Assessment Method) certification evaluates an asset’s environmental, social and economic sustainability performance, using standards developed by the Building Research Establishment. LEED (Leadership in Energy and Environmental Design) provides a framework for healthy, efficient and cost-saving green buildings. WELL building certification assesses the human health and wellbeing performance of the building, using standards developed by the WELL Building Institute. WiredScore’s Wired Certification provides transparency on the quality of internet connectivity in office spaces and access information (the internet is among the top three most important factors for tenants who are searching for office space, alongside with cost and location).
Embracing ESG helps lower costs through better procurement and waste management practices, lowers risks through better corporate governance, and enhances a company’s reputation, attracting employees, customers and investment in the process. Integrating ESG strategies into your construction projects will create long-term value and a positive and lasting impact on the environment and our society as a whole.
