Why Does the Real Estate Market Need ESG Reporting Software?

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Discover benefits of implementing the ESG reporting system for real estate and learn how such software can help with non-financial reporting.

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Environmental, social, and governance (ESG) reporting was a voluntary business practice until recently. Today, in the era of new legal and EU regulations and the ever-increasing environmental pressures, it has become a foundation of running a business responsibly and a key element of competitive advantage. Beginning in 2023, the non-financial reporting requirement will apply to large companies and companies listed on a stock exchange. However, starting in 2026, it will be obligatory for most companies.

Non-financial reporting focuses on sustainability factors, which the European Union is currently finalizing. These standards (ESRS — European Sustainability Reporting Standards) outline reporting requirements in the following four areas:

• General principles (general, strategy, governance, and materiality assessment disclosure requirements)
• Environment (e.g., climate change, pollution, water & marine resources)
• Social (e.g., own workforce, consumers, and end users)
• Corporate governance (e.g., governance, risk management, and internal control)

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This white paper highlights:

• Benefits of ESG reporting software for the real estate industry
• How to organize and visualize ESG data
• How to leverage smart metering and Internet of Things (IoT) sensors to streamline ESG reporting
• What are the steps to implement ESG reporting software
• and many other examples of using such software for non-financial reporting