25 July 2024
Courtney McCracken, Senior Sustainability & Energy Consultant & Dr. D. Cale Reeves, Associate Director
At Longevity Partners, we are developing the next generation of tools, infused with our deep knowledge of commercial real estate, that can tackle decarbonization at the scale of the problem itself. Heads of ESG are increasingly needing to track carbon emissions and optimization measures at scale, while also maintaining the flexibility to adjust their implementation scenarios and provide outputs that can be easily communicated to stakeholders. Similarly, asset and fund managers need to understand how their properties’ performance impacts the achievement of both asset- and portfolio-level decarbonization goals.
To address these needs, Longevity has developed a fully customisable decarbonization dashboard offering a scalable and flexible carbon performance interface that commercial real estate professionals of all levels can interact with.
Solving decarbonization issues
Gathering and interpreting reliable data on the environmental performance of an asset is one of the biggest challenges our clients face. A customizable tool that provides a clear view on carbon emissions allows businesses to make informed decisions and integrate environmental considerations into their ESG strategies. The Decarbonization Dashboard can also track and monitor progress on carbon reduction goals, ultimately leading to reduced costs as opportunities for energy consumption reduction and resource optimization are identified.
The Decarbonization Dashboard can also help with compliance with increasingly stringent environmental legislations, including SEC’s recently adopted climate disclosure rule, which impacts SEC-registered domestic or foreign companies. Our dashboard simplifies the process of compliance with local or industry regulations and sustainability reporting requirements by collecting all the relevant data in one place, thereby reducing administrative tasks and the potential risks of non-compliance.
Introducing Longevity’s Decarbonization Dashboard
Longevity Partner’s Decarbonization Dashboard is an interactive carbon performance tool designed to track emissions and output decarbonisation pathways for commercial real estate portfolios of any scale. The dashboard works by combining building performance data and energy audit results, which are used to estimate decarbonization pathways. These pathways are displayed at the asset level, portfolio level, and any levels in between such as the fund level or asset type subgroup levels through interactive selections.
This allows users to summarize carbon performance and progress at any scale in a matter of seconds, as opposed to spending hours, days, or even weeks organizing and interpreting results from energy audits.
As shown, the dashboard’s portfolio-level interface illustrates five floor area-weighted curves: a business as usual (BAU) scenario, the CRREM target pathway, Longevity’s prescribed decarbonization pathway, the decarbonization pathway in response to user’s implementation adjustments, and measured performance.
Tailored to You
The dashboard’s interface is fully customizable and can be designed to a client’s specifications. It has the ability to compare performance to client-defined targets at any scale and can breakdown results to a desired level of resolution. For example, if there is a goal of reducing a portfolio’s Scope 1 & 2 emissions by 15%, the dashboard can indicate whether the prescribed measures are expected to achieve this goal or estimate the relative deviation from that goal, along with the associated implementation plan with costs and timeline.
If details on the exact sources of decarbonization are required, the dashboard can provide a breakdown of how grid decarbonization, building upgrades, and renewable energy individually contribute to your portfolio’s decarbonization pathway.
Moreover, if there is a need to explore hypothetical scenarios in which you delay implementing onsite renewables across an entire portfolio, or there is a requirement to assess the emissions impact of accelerating electrification of your largest assets, the dashboard has the answers. Longevity will collaborate on any element to design a decision support tool that is perfectly aligned with your needs.
Prioritize with Precision
It can be difficult to decide where to focus efforts when developing decarbonization plans for large and/or diverse real estate portfolios. The Dashboard indicates which measures and assets will make the greatest impact on portfolio performance, giving decision-makers an actionable prioritization strategy for decarbonization. Similarly, the Dashboard can highlight opportunities by identifying those measures with the highest return on investment. Sensitivity to Building Performance Standards (BPS) and other risks can also be integrated into the dashboard to inform your portfolio’s prioritization .
To find out more and request a demo, please contact our team of sustainability specialists by sending a message to Dashboard@longevitypartners.com.