Last week, on Day 4 of COP27 in Egypt, a lot of the conversation surrounded different ideas and technologies to decarbonise our atmosphere.
This will be essential to ensure we come close to the 1.5 degree target and will undoubtedly play a large role in the green revolution for future generations. However we can not forget our responsibility to reduce our existing environmental impact on our planet right now.
Most analysts have declared the difficulty of achieving 1.5 during this climate change conference. In fact the UN has stated that there is “no credible pathway to 1.5C in place”. With this in mind, we must all take action as soon as we can to play our role in reducing the planet’s current energy demand. Moving conversations and words towards action is necessary to stand any chance of achieving this.
This is amplified when you consider figures presented by Green Alliance that in 2021, a period prior to the energy crisis, when thousands of office buildings from London, Manchester, Bristol, Leeds and Birmingham lost £60 million in wasted energy. It is estimated that this volume is enough to power more than 100,000 homes. Considering the energy crisis we’re now in, this is a stark statistic.
In Colliers’ property management department, we are committed to helping our clients reduce their environmental impact through active engagement, influencing both incremental changes and sensible management through to assisting and advising on whole building retrofitting.
Energy efficiency has become the forefront of property management, particularly during the current crisis
Energy efficient technology and sensible management practices might have previously been deemed as the less glamorous side of real estate management but have now become the forefront of our management decisions due to the increasing energy costs and subsequently the decreasing payback periods on these implementations.
At Colliers, all site staff ensure that their property is run efficiently, in line with occupation trends and managed appropriately. Additionally, planned preventative maintenance strategies with energy efficiency measures entailed within are being brought forward to provide a more cost-effective result for both landlords and tenants.
A quantifiable example of this is shown at Freshford House in Bristol. The asset strategy involved reviewing the building management system and installing additional control sensors on each floor. This intervention provided greater control over localised temperatures and have contributed to, on average an 18 per cent consumption decrease quarter-on-quarter since implementation.
Incremental energy efficiency measures such as this, will help buy the planet more time to meet 1.5 and shows that we should not wait for the introduction of decarbonisation technologies but we must all play our part, where we can, to reduce demand on energy.
Last year during COP26 we highlighted that we must work on larger scale retrofitting to have any chance of achieving the 1.5 degree target. In addition to influencing what we can now, the speed of this transition must be improved and carried out with careful consideration of various factors including considerations the E, S & G to ensure cost and planet effective results.
About the author
Alasdair Manning is a surveyor in our Property Management team, where he advises clients on mitigating risk and future proofing assets considering climate change and legislative changes. He has a strong focus on improving the social value performance of the assets we manage to benefit local communities.
To get in touch email, Alasdair.Manning@colliers.com.