Today, infrastructure development has become the key to economic growth. But, with environmental concerns raging, it becomes essential to ensure that this growth is sustainable. The commercial real estate industry is booming.
As digitalization and sustainability shape the future, companies are recalibrating their view of office buildings. Businesses are quickly realizing that using digital tools to create sustainable, digitally connected office spaces can effectively meet workforce needs, drive employee productivity and satisfaction, reduce footprint carbon, deliver cost benefits, boost efficiency and help India meet its global commitments. on sustainability.
While technologies such as the Internet of Things (IoT) have enabled companies to think beyond traditional approaches to commercial real estate development, major advances in data storage, aggregation and analysis in the built environment ushered in a new frontier in building design. and operation. This transition has resulted in unprecedented levels of efficiency and a human-centric, intuitive, seamless and personalized experience for everyone.
Today, digitally connected and sustainably built office spaces have become key differentiators that make them competitive, flexible and futuristic. Digital technologies also converge multiple or different systems, optimize spaces and are well equipped with networking capabilities. They can easily connect or control lighting, HVAC, security or monitoring systems to provide visibility into operations and management functions. Additionally, digitally connected smart buildings offer tools to collect vital information such as building temperature, brightness, carbon emission levels and occupancy. Collected data can be easily viewed on the dashboard or screens to analyze and improve building operating conditions. This visibility enables companies to manage and optimize operational and energy costs, avoid unnecessary expenses, innovate, become flexible, provide solutions to environmental challenges and achieve overall satisfaction. By keeping the basics in place, a smart, smart, and resilient building system can save time, manage risk, deliver cost-effectiveness, and lifecycle value. The most commercially attractive buildings are those with built-in resiliency where systems are constantly open and flexible for updates and improvements. For companies, there are considerable strategic advantages to working in a smart building.
Smart systems can contribute significantly to reducing the total cost of ownership through energy-efficient and IoT-based solutions in buildings. Digitally connected systems in buildings involve a huge flow of data and therefore the security of these devices becomes paramount. Having cybersecurity procedures in place is essential to help building managers stay ahead of any potential threat. Smart building systems use the best security protocols to ensure building user privacy and data security.
Rich in energy
It is important to note that commercial real estate has a vital role to play in the fight against climate change and in helping India achieve its sustainable development goals. The world is already experiencing the dangerous effects of climate change, particularly on the economic and social fronts, and the decarbonization journey must be accelerated rapidly across all sectors to avoid the risks. It is estimated that the real estate sector generates around 39% of total global emissions, and around 11% of these emissions are generated by the manufacture of building materials, including steel and cement, while the rest is emitted by buildings themselves and by generating the energy that powers the buildings.
As the role of corporate real estate changes, the types of buildings occupied by businesses also change. A greater appreciation of the contribution the workplace can make to business success has made companies more discerning about the types of sites they select and more aware of the benefits that particular buildings offer.
According to analysis by the World Economic Forum, digital technologies, if applied across all sectors, could provide up to 20% of the 2050 reduction needed to meet the International Energy Agency’s net-zero trajectories in the energy, materials and mobility sectors. These industries can already reduce their emissions by 4-10% by rapidly adopting digital technologies.
Therefore, at this critical juncture, digitalization and decarbonization can incentivize or help businesses and industries transform or reinvigorate their strategies to envision a sustainable future.
The author is Business Head, Digital Energy, Schneider Electric India.