The construction industry may benefit significantly from leveraging smart IT to optimize ESG reporting. For companies in energy-intensive industries that contribute to a large portion of environmental pollution, ESG is critical to ensuring the minimization of their impact on local communities and the environment at large.
The construction sector accounts for around 40% of worldwide energy consumption and contributes to one-third of all global emissions. As such, the industry is under mounting pressure to showcase its commitment to cutting greenhouse gas emissions and achieving net zero carbon. Achieving this typically involves placing a larger focus on ESG requirements during the tendering process.
Impending regulatory changes requiring stricter ESG accountability and reporting offer more incentive for construction companies to use every tool available to boost their ESG. In a future where the tendering process has much stricter environmental rules, companies that cannot substantiate their claims of sustainability may not even be able to bid for projects in the first place.
This means construction companies must invest in greater accountability and more rigorous ESG reporting as soon as possible to abide by sustainability requirements and potentially retain the right to bid for construction projects. The Royal Institute of British Architects (“RIBA”) is calling for more efficient use of technology in sustainability practices within the construction industry. RIBA has published a Smart Building Overlay guide calling on the construction industry to leverage smart technology in its efforts to incorporate environmental sustainability into retrofitting old projects and constructing new ones.
In many cases, construction companies only have to bring their IT systems up-to-date to see benefits because these systems produce an estimated 1% of worldwide carbon emissions. These outdated IT systems act as an efficiency bottleneck and produce emissions to rival major industries such as shipping and global aviation.
Instead of conventional CAD workstations, construction companies can invest in DaaS solutions that are purpose-built and hosted by data centers such as VDIPOD. This system is fully powered by renewable energy and cuts IT power consumption as well as carbon emissions while providing users with audit trails and metrics to make ESG reporting easy.
For example, VDIPOD allowed an international architecture studio to triple its renewable power usage and reduce IT energy consumption by a whopping 90% by migrating 400 designers and architects to VDIPOD.
Transitioning to an infrastructure-as-a-service (“IaaS”) model would also help construction companies minimize their environmental impact by transferring their carbon footprint and power consumption to their service providers.
AtkinsRealis Group, for instance, plans to reduce its global centers from 16 to only 3 by leveraging private cloud space from Creative ITC that runs on 100% renewable energy. Company CIO Steve Capper says the move has allowed AtkinsRealis to cut electricity consumption by 53%, floorspace by 45% and storage use by 69%.
For enterprises such as Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) that are keen on taking their ESG implementation to the next level, the possibilities that smart technology holds are a viable pool to tap into.
NOTE TO INVESTORS: The latest news and updates relating to Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) are available in the company’s newsroom at https://ibn.fm/GXRFF
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