Explore the pivotal role of technology in decarbonising the built environment. Here’s how innovative solutions like Ecolibrium's SmartSense can contribute to making buildings more sustainable, generating operational savings, and improving productivity along the way.
As the world embraces modernity, where cities rise like steel and glass behemoths, a crucial orchestrator of our environmental fate exists in the built environment. From age-old structures steeped in history to sleek, futuristic establishments, each brick-and-mortar building holds the power to influence our planet’s future. After all, the built environment is responsible for 40% of annual global carbon emissions.1 Standing on the cusp of the climate crisis, it’s crucial now more than ever to decarbonise the built environment.
World Green Building Week (11 – 15 September 2023), an international movement aimed at catalysing change, beckons us to confront this challenge head-on. The week-long event is organised by the World Green Building Council (WorldGBC) and led by its global network of over 75 Green Building Councils and 46,000 members. This year, it calls on the worldwide building and construction sector to accelerate the transition to secure an energy-efficient, regenerative and just future for all.2
Why is the energy transition important?
Energy transition is not just switching to renewable energy. It goes beyond that. Think of a complete systemic digital change that enables your building portfolio to achieve operational excellence while realising sustainability goals starting with energy efficiency. This, in turn, reduces energy demand and significantly helps with accelerating decarbonisation in the built environment.
To put things into perspective, 34% of global energy is consumed by buildings alone. In fact, in 2040, approximately 2/3 of the global building stock will be buildings that exist today.1 Without necessary upgrade actions worldwide, these structures will still emit carbon emissions in 2040. Thus making it difficult for the world to achieve the Paris Agreement goal. Moreover, the global building area is expected to double by 2060. A significant contributor to climate change, we must act now to make existing and new buildings more sustainable.
But are green buildings profitable?
Yes! According to the US Green Building Council, the top 2 triggers for green buildings are client demand and healthier infrastructures. As a matter of fact, green buildings and retrofits have consistently reported more operational cost savings, increased asset value, and lower maintenance costs than typical commercial buildings.3
CBRE data suggests that a notable number of investors would be willing even to pay a marginal premium to purchase a green building. The same holds for occupiers; many want to pay slightly higher rents for space in a green building.4
Aside from the economic benefits for businesses, green buildings and cities prioritise public health and improve climate resilience.
How can technology help…
Transformative technology, such as IoT sensors and smart systems, empowers buildings to reduce operational costs, increase productivity, and improve their carbon footprint, ultimately driving sustainability.
Ecolibrium helps businesses with exactly that! Its AI-driven solution, SmartSense, accelerates decarbonisation in the built environment while positively impacting the organisation’s productivity and operational costs. The SmartSense dashboard has applications for over 11,000 energy-consuming assets, providing real-time data and enabling businesses to make better decisions. With manpower, energy and maintenance cost optimisation and uptime improvement, SmartSense also contributes to healthier buildings and helps reduce carbon footprint across the portfolio.
And that’s not all! Innovative technologies like SmartSense are essential to effective ESG reporting and other compliance.
Let the data speak…
The Ecolibrium solution was applied at one of Asia’s leading multinational banking corporations. As a result, SmartSense generated 4.5T of carbon reduction in the primary and secondary building pumps with annual energy savings of $21K in the chiller operation. It also reduced the CO2 levels within the building from 330 to 100 PPM, ensuring an optimal indoor environment for occupants and increasing productivity. To know how we have done this, take a look at some of our case studies.
By leveraging SmartSense, organisations can enhance their sustainability performance while proactively focusing on operational excellence. To find out how we can help your business, please reach out to our team here.
Only a holistic approach to balancing people, the planet, and profit can make buildings and cities more sustainable in the long run.
Bibliography
1 Editorial Staff. Why the built environment? Architecture 2030. [online] https://architecture2030.org/why-the-built-environment/
2 Editorial Staff, 2023. World Green Building Week 2023. World Green Building Council. [online] https://worldgbc.org/wgbw23/
3 Editorial Staff. Benefits of green building. USGBC. [online] https://www.usgbc.org/press/benefits-of-green-building
4 Editorial Staff, 2023. The Green Building Premium: Does It Exist? CBRE. [online] https://www.cbre.com/insights/viewpoints/asia-pacific-viewpoint-the-green-building-premium-does-it-exist#:~:text=While%20the%20precise%20magnitude%20of,be%20willing%20to%20pay%20a
