In recent years, environmental, social, and governance (ESG) considerations have taken center stage in the real estate industry. Investors, regulators, and stakeholders increasingly focus on sustainable operations and ensuring that their businesses adhere to best-practice guidelines. 

ESG encompasses a wide range of issues and concerns, which will impact each company in a slightly different way. Carbon emissions, pollution, waste management, labor practices, diversity, executive pay, safety risks, and tax issues are just some of the numerous considerations under the umbrella of ESG. 

However, a significant gap persists between ESG aspirations and their practical implementation in our industry. In this post, we will explore the challenges in closing this gap and some available solutions and opportunities, drawing insights from REdirect Consulting’s recent survey and showcasing the pivotal role of platforms such as Deepki and advisory services from REdirect Consulting.

The Gap Between ESG Aspiration and Implementation

Despite the growing commitment to ESG principles in the real estate industry, many property stakeholders still struggle to translate these aspirations into concrete actions. There are numerous challenges, the majority of which can broadly be divided into three categories. 

The first is a lack of transparency. Clear and consistent ESG reporting is still elusive for many organizations, making it difficult to assess their performance and compare it with the performance of peers and competitors. 

The second challenge is the constant difficulty in accurately and reliably measuring the impact of ESG practices. Quantifying the impact of ESG initiatives poses a significant hurdle, often due to inconsistent data and a lack of standardized metrics.

The final challenge centers on resource constraints. Implementing ESG strategies requires time, expertise, and financial investment, which can be daunting for many firms and may feel completely out of reach for smaller companies. 

So What Can We Do About It? Insights from REdirect Consulting’s Survey

Our recent industry survey highlights these issues, revealing that a significant percentage of property stakeholders cite transparency and difficulty in measuring outcomes as their primary ESG challenges. Additionally, resource constraints were identified as a barrier to effective ESG integration.

However, our survey also highlighted several key themes in how this gap may be bridged and how real estate companies can ensure that they adhere to ESG best practices. In particular, the role of Deepki’s complete ESG platform for real estate and advisory services from specialist firms such as REdirect came up repeatedly in our survey participants’ responses. 

The Role of Deepki’s Platform in Bridging the Gap

Deepki’s complete ESG platform for real estate is designed to offer commercial real estate investors, owners, managers, and other stakeholders a comprehensive solution to their ESG challenges through data-driven intelligence and actionable insights. 

Deepki provides in-depth data visualizations, which can transform complex ESG data into intuitive visual formats, making it easier for stakeholders to understand and act upon the insights their data provides. Its automated data collection streamlines the process of data gathering from various sources, ensuring consistent, audit-ready data and accurate reporting. Deepki leverages AI to enhance productivity, predict buildings’ energy consumption, detect anomalies, and fill gaps where necessary data is missing based on each building’s unique criteria. Through its performance benchmarking, users can compare their ESG performance against industry standards.

Deepki also helps users prioritize practical actions and track their progress over time by simulating the impact of various retrofits, their ROI, their effect on stranding over a given period, and how they align with frameworks such as the CRREM. It is currently the only complete ESG data intelligence platform designed specifically for the real estate industry, and many of our respondents said that it was invaluable. 

REdirect Consulting’s ESG Advisory Services

Here at REdirect Consulting, we provide ESG advisory services designed to complement Deepki's technological solutions with robust advice and insights from industry-leading experts. 

We can assist with not only short-term insights but also with long-term strategic planning. In partnership with our clients and using the complete, market-leading solution Deepki as one of our main tools, we can develop tailored ESG strategies that align with clients’ specific goals, industry best practices, and the various regulatory requirements that govern our industry.

Our implementation support services allow us to assist clients in executing their various ESG initiatives, from policy development to project management. Through our ongoing monitoring and reporting services, we provide clients with continuous oversight and reporting to ensure that their ESG goals are met and maintained.

For more details on our ESG advisory services, visit our ESG advisory services page.

REdirect + Deepki: Start Bridging the Gap and Reaching Your ESG Goals Today 

Bridging the gap between ESG aspirations and practical implementation is crucial for driving sustainable progress in the real estate industry. However, firms—particularly smaller companies—may come up against significant challenges in realizing this ambition. 

By leveraging Deepki’s innovative ESG platform and REdirect Consulting’s expert advisory services, property stakeholders can overcome these common challenges, achieve their ESG goals, protect the value of their portfolio, and contribute to a more sustainable future.

For further information and to explore how we can help your organization, visit our website and Deepki’s website, or get in touch with us to speak to one of our expert advisors.