The E in ESG: How to Use Technology to Create and Promote Sustainable Tenant Experiences
Property teams and tenants are under increasing pressure to meet ESG (Environmental, Social, and Governance) goals, and the benefits are clear: higher property values, greater access to capital, and operational cost savings. Regulatory compliance is also improved, reducing the risk of fines and ensuring readiness for future regulations. Additionally, a robust ESG strategy enhances corporate social responsibility profiles and tenant satisfaction. Sustainable buildings are more attractive to high-quality tenants, aiding in both attraction and retention.
While environmental policies vary widely across the globe, tenants everywhere are demanding more transparency and action from office owners and operators. At the VTS Accelerate conference in May 2024, Neil Vogel, CEO of Dotdash Meredith, shared that “[environmental] sustainability is table stakes” for his employees and their brand. He added, “[employees] want to know we're going beyond what's required.”
How can owners and operators use technology to drive ESG initiatives? Let’s start with the "E" in ESG and explore how to implement realistic initiatives that deliver significant impacts and measurable returns for asset managers and investors alike.
Kill the Keycards, Hit ESG Targets, Save the Planet
Reducing material waste is a crucial component of sustainability efforts. Replacing antiquated solutions with digital alternatives is an effective strategy to do so. Traditional plastic keycards and paper-based visitor management systems contribute significantly to waste. Digital access control and visitor management systems offer modern solutions that minimize waste and enhance efficiency.
Replacing keycards with digital access for tenants and building staff is a significant step toward minimizing plastic waste. Plastic keycards are frequently lost, necessitating replacements that cost time, money, and resources. For instance, The Edge in Amsterdam, one of the world's most sustainable buildings, has implemented a smartphone app for access control (Source: Bloomberg). This innovation supports their zero-waste policy by eliminating the need for plastic keycards, enhances building security, and increases efficiency.
Digital visitor management systems are also instrumental in achieving environmental goals by replacing paper logbooks and visitor badges with digital alternatives. Property managers can significantly reduce waste and paper use, and their environmental footprint, and contribute to sustainability goals with digital visitor solutions.
With built-in mobile access and visitor management capabilities, VTS Activate is a seamless, digital solution for tenants, visitors, and property teams. Not only are property teams saving trees with digital solutions, but they’re also saving time with a powerful command center to manage access for everyone.
Streamline Operations, Turbocharge Sustainability
Transforming legacy building operations and processes with digital solutions is a powerful way to reduce waste and enhance efficiency. Digital communication platforms and operational tools streamline daily tasks, foster tenant engagement, and promote sustainable practices.
Bank of America provides a compelling case study. After implementing comprehensive digital solutions to replace paper communications and forms, they reduced photocopy paper consumption by 18% in the first year alone (Source: Tufts University Study). By transitioning many internal reports and communications to an online format, Bank of America saved approximately 100 tons of paper annually.
Property managers can apply similar digital communication and operations strategies to achieve cost savings and sustainability goals. Centralizing building details into a digital platform and providing tenants with quick access to essential information is a quick win to reduce printed materials. Newsletters, memos, announcements, and building signage are all opportunities to go digital.
On the operations front, some of the most commonly digitized processes include work order management, preventive maintenance, notifications, amenity booking, and more. Empowering teams with effective operations tools saves time and helps staff complete tasks promptly – getting ahead of maintenance not only improves building performance but also – you guessed it – reduces waste.
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Office buildings pioneering world-class tenant engagement and sustainability initiatives, such as 40 Leadenhall, are consolidating core operations functions to enhance operational efficiency and optimize resource use with VTS Activate. A comprehensive technology platform allows property managers to streamline various core functions of building operations, deliver tenants the experiences and ease they expect, and contribute to more sustainable practices.
Empower Communities, Drive Environmental Sustainability, Brag About It
Creating tailored tenant experiences not only improves satisfaction but also promotes sustainable behavior. By making it easy for tenants to participate in green initiatives, property managers can foster a culture of sustainability.
A practical example of successful tenant engagement is The Crown Estate in the UK. Their Sustainability Fit-out Guide promotes green practices in building management, health, wellbeing, and transport for their tenants. By digitizing these resources and making them easily accessible, The Crown Estate motivates tenants to adopt sustainable practices, improving overall ESG performance (Source: GRESB Blog).
Engaging tenants with sustainability programs can involve offering workshops and educational programs to encourage eco-friendly behaviors. Creating feedback channels through surveys and polls can continuously improve sustainability initiatives and address tenant concerns. Publicizing the results of tenant engagement initiatives can demonstrate their impact, encourage continued participation, and reinforce your dedication to sustainability.
An often underutilized aspect of office sustainability programs is promoting your goals and measures you’re already taking. Make resources readily available to tenants and use a multi-channel digital marketing strategy, including in-app content, email, and push notifications to promote your efforts, events, programming, and wins.
Utilizing VTS Activate empowers property managers to build a sustainable community by engaging tenants with green initiatives and providing seamless digital communication. This not only enhances tenant satisfaction but also drives measurable ESG performance improvements, contributing to a more sustainable and efficient building environment.
Take The Next Step Toward Environmental Sustainability
Leaders in the industry are investing heavily in environmental sustainability, recognizing the critical need for innovative solutions. For instance, CBRE has partnered with Climate X, a risk analysis platform, to help property managers identify potential hazards like coastal flooding, drought, and extreme heat. This advanced climate risk data supports informed decision-making for property investments and retrofits, enhancing both resilience and sustainability efforts (Source: CBRE Press Release). However, these investments don’t necessarily serve the dual purpose of increasing tenant satisfaction and should be paired with experiential and communication efforts to make a social impact.
LEED certifications and similar initiatives can be costly, but there are many other impactful ways owners and operators can strive towards ESG goals. By leveraging digital solutions like VTS Activate, property managers can reduce waste, improve operations, and boost tenant satisfaction without breaking the bank. Our platform helps implement realistic initiatives that deliver significant results and measurable returns, ensuring you meet and exceed your ESG targets.
Revolutionize building access, operations, and engagement with VTS Activate to enhance ESG performance, save costs, and improve tenant experiences.
To learn more about VTS Activate, visit our product page or book a demo.