Page 61 - RC21 EDGE Summer Issue

This includes considering the array of available frameworks and tools, from focused tools like the U.S. Environmental Protection Agency’s ENERGY STAR Portfolio Manager, to comprehensive ESG reporting and benchmarking platforms like the GRESB framework and carbon emissions registries like CDP (formerly known as the Carbon Disclosure Project).
Staying abreast of developments in the investment com- munity as well as in the regulatory space will inform the choice of platform or platform(s), including the need for tools that comport with industry-specific standards such as those developed by the Sustainability Accounting Stan- dards Board (SASB) or the Task Force on Climate-related Financial Disclosures (TCFD).
Next comes the fun part: announcing a commitment! Every week a CEO makes headlines for a bold climate commit- ment. At the same time, there is growing scrutiny about some of these commitments. “Long-range” goals that once seemed very far off are no longer so, and as 2030 draws nearer, the pressure to transparently demonstrate real progress will grow. Companies that invest in the founda- tional work of analyzing the opportunity, developing an accurate inventory, and setting realistic, achievable targets will protect themselves against future reputational risk and potential negative financial impacts.
Executing on a climate neutrality commitment will be a combination of executing traditional projects, such as energy efficiency retrofits and developing on-site renew- able generation, and considering new opportunities, such as end-use electrification and investing in various offset schemes. It requires constantly reassessing the strategy and the balance of business constraints and opportunities as new technologies come online, grid energy decarbon- izes, carbon offset prices change, and new value streams and business model emerge.
A successful carbon management strategy will set a realis- tic and achievable “North Star” goal, utilize consistent and
rigorous tracking and measurement, and follow the plan- do-check-act framework to ensure that the portfolio is on track to meet the ultimate goal as well as milestone targets along the way.
Gone are the days when a plaque in the lobby was enough to attract tenants and mollify investors. We are entering
a rapidly evolving era of rigorous and credible climate tar- get-setting, tracking, and achieving emissions reductions. Companies that take climate risk seriously, and develop, track, and report climate neutrality goals will be at an ad- vantage in this new world.
View the Realcomm webinar: Improving ESG Performance and Part II: Achieving Carbon Neutrality in the Built Environment
Brenna Walraven is President & CEO of Corporate Sustainability Strategies, Inc. She has a proven record of accomplishments in executing the business case for improved energy management, operational efficiency and environmental stewardship, having
served in many senior executive roles in real estate for 28 years. Brenna led the effort to develop the BOMA Energy Efficiency Program and BOMA Energy Performance Contract model and was the first woman chair and chief elected officer for BOMA International.
Arah Schuur is the Executive Director of Northeast Energy Efficiency Partnerships (NEEP), a nonprofit that accelerates collabo- ration to promote advanced energy efficiency and related solutions in homes, buildings, and communities throughout the
Northeast and Mid-Atlantic states. Arah has had senior roles in energy efficiency and energy policy in the private, public, and nonprofit sectors, including at the U.S. Department of Energy and the Massachusetts Department of Energy Resources.
61