The real estate industry plays a significant role in the global economy and is increasingly recognizing the need for Environmental, Social, and Governance (ESG) reporting.
ESG issues have become a top priority for real estate companies, driven by the demand for sustainable and responsible business practices. ESG reporting in the real estate sector encompasses a wide range of factors, including energy efficiency, carbon emissions, social impact, and stakeholder engagement.
With the urgency to address climate change and the growing emphasis on sustainability, the real estate industry is taking proactive measures to integrate ESG considerations into its operations. The need for ESG reporting in real estate is influenced by various factors, including regulatory requirements, investor expectations, and the desire to enhance financial performance and mitigate risks. Real estate organizations are recognizing that integrating ESG considerations can lead to improved tenant satisfaction, reduced energy costs, and increased long-term value of assets.
This post explains ESG reporting software and identifies the five best solutions for sustainability reporting in 2023.
Best ESG Reporting Software for Real Estate
- Singu FM
- SmartHead
- Greenly
- Onspring
- Hyperproof
- Denxpert
- AuditBoard
- Novata
- Emex EHS & ESG Software
- Energy Intelligence Suite
(Based on the reviews on Capterra.com)
Singu FM
One such software that stands out as the best ESG reporting software for real estate in 2023 is Singu FM by Velis Real Estate Tech.
Singu FM offers integrated facility and access management software solutions to over 350 enterprise clients in more than 30 countries, covering a billion square feet of real estate assets. The software enables organizations to efficiently manage their facilities while also streamlining their ESG reporting processes.
Key Features of Singu FM – Sustainability ESG Reporting Software
- ESG Dashboard – The ESG dashboard provides a visually engaging presentation of non-financial reporting data related to energy, water, and gas consumption. With intuitive visualizations, real estate professionals can easily monitor and analyze their resource consumption, fostering informed decision-making.
- Comprehensive ESG Reporting – The reporting functionality offers comprehensive reports on consumption metrics such as water, energy, and waste. Additionally, it provides detailed reports on renewable energy sources, water reuse initiatives, and calculates the building's carbon footprint using the GHG Protocol. These reports enable real estate companies to showcase their sustainability efforts and progress.
- Integration and Data Management: Singu FM seamlessly integrates with IoT sensors and smart metering systems, enabling efficient data collection and aggregation from various sources. The software centralizes ESG data, ensuring data accuracy, consistency, and reliability.
- ESG Targets Management – The targets panel empowers users to set long-term and short-term sustainability targets and displays them prominently on the ESG dashboard. This feature facilitates goal tracking, performance evaluation, and drives continuous improvement towards sustainable practices.
- ESG Surveys – The software includes surveys that are specifically designed to align with GRESB certification requirements. Moreover, the flexibility to customize surveys allows adaptation to other certifications, ensuring compliance with diverse sustainability frameworks and standards.
- ESG indicators and metrics (KPIs) – The ESG reporting software incorporates a comprehensive collection of indicators and metrics (KPIs) that are essential for effective building management and non-financial reporting. These indicators and metrics provide valuable insights into environmental and social performance, enabling real estate professionals to monitor progress and optimize sustainability initiatives.
- Building Waste Management – The building waste management module in the ESG reporting software for real estate enables efficient tracking and management of waste generated by buildings. It streamlines waste management processes, promoting sustainability and reducing environmental impact.
Singu FM by Velis Real Estate Tech is the leading sustainability ESG reporting software for the real estate industry. With its comprehensive features, integration capabilities, and emphasis on accurate and efficient ESG reporting, Singu empowers organizations to drive sustainability, meet regulatory requirements, and showcase their commitment to responsible business practices.
SmartHead
SmartHead software offers tools for companies to efficiently manage and organize ESG and sustainability-related data. It enables businesses to keep their data accessible for all stakeholders, ensuring transparency and communication.
Greenly
Greenly specializes in carbon management solutions for businesses across industries. Their software helps companies measure, reduce, and offset their carbon footprint based on international carbon accounting standards.
Onspring
Onspring provides a software solution for centralizing ESG data and streamlining sustainability reporting. Their platform automates assessments and simplifies the management of ESG initiatives, allowing companies to demonstrate success with audit-ready data.
Hyperproof
Hyperproof offers software that simplifies information security framework management. Their platform automates compliance tasks, allowing teams to focus on critical areas.
Denxpert
Denxpert offers ESG management software to help companies meet ESG standards. Their platform provides step-by-step guidance and expert support throughout the ESG journey.
AuditBoard
AuditBoard ESG is a purpose-built solution for internal audit and risk management teams. It enables centralization and management of ESG programs, automating manual tasks associated with data collection and reporting.
Novata
Novata offers a full-service experience to make the ESG journey accessible and achievable for private markets. They provide clear explanations and information about ESG metrics and sub-metrics, empowering businesses to collect data.
Emex EHS & ESG Software
Their cloud-based platform enhances data collection, improves data quality, and provides actionable insights to help clients achieve their sustainability targets.
Energy Intelligence Suite
The solution focuses on utility invoice and energy data management. Their offering supports ESG and GHG accounting and reporting, as well as benchmarking and sustainability tracking, enabling businesses to make informed energy-related decisions.
The Benefits of ESG Reporting for Real Estate
The benefits of ESG reporting software for real estate include:
- Improved transparency
ESG reporting provides a platform for real estate companies to disclose their environmental, social, and governance initiatives and performance, fostering transparency and accountability.
- Enhanced reputation and stakeholder trust
ESG reporting demonstrates a company's commitment to sustainable practices, which can enhance its reputation among investors, customers, and employees.
- Access to capital
Investors increasingly consider ESG factors when making investment decisions. By engaging in ESG reporting, real estate companies can attract socially responsible investors and gain access to a broader pool of capital.
- Risk management
ESG reporting helps real estate companies identify and manage ESG-related risks, such as climate change impacts, regulatory compliance, and community relations. By addressing these risks, companies can mitigate potential financial and reputational harm.
ESG and Sustainability Reporting Software for Real Estate
Investing in ESG and sustainability reporting software for real estate offers several advantages:
- Efficient data collection and analysis
ESG and sustainability reporting software streamline the process of collecting, analyzing, and reporting ESG data, enabling real estate companies to generate comprehensive reports more efficiently.
- Standardized reporting
Software solutions often align with ESG reporting frameworks and standards, such as those developed by the Global Reporting Initiative (GRI) or Sustainability Accounting Standards Board (SASB). This ensures consistent and comparable reporting, facilitating benchmarking and analysis.
- Data accuracy and integrity
ESG software helps ensure the accuracy and integrity of ESG data by automating data collection, minimizing manual errors, and providing data validation checks.
- Scalability and flexibility
ESG reporting software can accommodate the growing complexity and volume of ESG data, making it easier for real estate companies to scale their reporting efforts and adapt to evolving reporting requirements.
What is the Future of ESG Reporting in Real Estate?
The future of ESG reporting in real estate holds significant potential for further integration and impact. Some key trends include:
- Increased regulatory focus
Governments and regulatory bodies are likely to continue strengthening ESG reporting requirements and standards for real estate companies, driving greater compliance and disclosure.
- Growing investor demand
Investors' focus on ESG factors will continue to shape the real estate market. Companies that proactively embrace ESG reporting and demonstrate sustainable practices are expected to attract more investors and capital.
- Integration of technology and data analytics
Real estate companies will leverage advanced technologies, such as artificial intelligence and machine learning, to improve ESG data collection, analysis, and reporting. Data analytics will enable deeper insights into ESG performance and facilitate evidence-based decision-making
In conclusion, the real estate industry recognizes the need for ESG reporting as a means to drive sustainability, enhance financial performance, and mitigate risks. ESG considerations encompass environmental, social, and governance factors, and real estate companies are integrating these aspects into their operations to meet regulatory requirements, attract investors, and achieve long-term value creation. The increasing emphasis on ESG reporting underscores the industry's commitment to sustainability and responsible business practices.
