Building Technology and Sustainability 

The past several years have been unpredictable and unprecedented, driving changes across the economy and in how people work each day. The way buildings operate is no exception to this evolution. The quality of property technology (PropTech) has increased steadily over the past decade; technological responses to Covid shifted things further, forcing organizations to reexamine how and when people enter their spaces, as well as take additional measures to promote their health and safety.

Technology not only plays a role in helping organizations keep their people safe, but also delivers changes that make the workplace more efficient and effective. Companies now have an opportunity to provide a better environment for their employees and contribute toward a more sustainable world. Smart building technology offers leaders a way to future-proof their spaces and work toward achieving their sustainability goals with more efficient, data-driven operations.

Data-Driven Effectiveness

Technology has already played a significant role in helping organizations reduce their energy consumption, as it can provide information and tools for facilities operators to mitigate building issues, offer faster and better maintenance delivery, and reduce overall energy consumption. Smart buildings, or a supersystem of interconnected building systems, gives leaders additional and more granular options to make the best choices for their space. Going beyond the environmental benefits, a study from the American Council for an Energy Efficient Economy (ACEEE) also found that commercial buildings could see savings up to $60 billion if certain investments in energy efficiency were increased by just one to four percent.

Companies can better understand how their spaces consume energy through smart building platforms that provide data on how the space operates. These platforms help facilities operators get a more detailed look at HVAC, lighting and shading, automated fault detection, other aspects of building operation via automation working in concert with energy information systems to provide a thorough rundown of a building’s functions and what can be done to reduce energy usage.

In the above-mentioned ACEEE study, the authors point out that HVAC equipment alone typically consumes around 40 percent of a commercial building’s energy—many systems are also too large for the space they serve. Instead of making ad-hoc changes and correcting problems via trial and error, smart building tech “interprets information from a variety of HVAC sensor points and maintains that information in real time” allowing for high levels of control and the ability to detect system faults or streamline usage based on occupancy.

Using platforms that utilize Internet of Things (IoT) and Power-over-Ethernet (PoE) to connect building systems, leaders can access insights and energy-use analytics to create better outcomes. Additionally, building rating systems like LEED (Leadership in Energy and Environmental Design) are long-standing programs to promote green building design, construction, and operation. These programs offer projects the ability to earn certification points by using smart building tech to boost energy efficiency. In the current technological environment, leaders have substantially more options to boost their sustainability efforts and inch the world closer to net-zero emissions.

The Need for Net-Zero

Net-zero emissions, or the removal of all human-created emissions from the atmosphere, is crucial to mitigate the worst effects of climate change. As a result, many organizations are weaving carbon neutrality and emissions reductions into their long-term goals. With commercial buildings being a huge source of pollution (contributing 28 percent of total global energy-related emissions) and representing 55 percent of global electricity consumption, it’s vital for both the public and private sectors to reduce energy demand while also mitigating the release of carbon into the atmosphere. This is no small feat—the International Energy Agency estimates that direct building emissions would need to decrease by 50 percent and indirect emissions by 60 percent by 2030 to achieve meaningful net-zero goals. However, if these and similar objectives are not achieved across the economy, this doesn’t simply create difficulties for future business operations—it poses an existential threat to human civilization as we know it. Given the potential for the loss of major coastal communities, an uptick in stifling heatwaves, erratic weather patterns, and the displacement of over a billion people in the 21^st century due to a changing climate, the importance of these sustainability efforts can’t be overstated.

Given the short timeframe, this may sound like a grim outlook for the future of our planet. While it’s true that we need quick and extensive shifts in how we approach and consume energy, the National Academies of Sciences says existing technologies, like electric vehicles or solar power, could lead to net zero with the right investment across society coupled with specific action from government, industry, and individuals.

A huge question remains: are leaders of businesses and governments willing and able to achieve these goals? Only time will tell. In the meantime, however, investors and organizations can use PropTech to contribute to a world with smarter buildings, reduced emissions, a cleaner environment, and a more optimistic future.