FMJ Facilities Management magazine providing industry-specific intelligence to FM and property professionals
By Yaron Dycian, Chief Product and Strategy Officer, WINT Water Intelligence
Environmental, Social, and Governance (ESG) has been high on the agenda for several years, with investor demand on the rise around the world. In fact, 42 per cent of global investors have prioritised client expectations and reputation when making ESG decisions this year. Now the UK Labour Government is set to regulate ESG reporting companies.
This means the ‘E’ of ESG is coming under scrutiny. Together with Net-Zero programmes to reduce the global carbon footprint by 2050, water savings and reduction in its associated carbon emissions are mission critical for every organisation. While a focus on business sustainability is welcome, ESG reporting can be inaccurate and misleading, with many organisations approaching it only from a reputational point of view rather than one that is tangible, and results focused.
With 30 per cent of water wasted globally – the equivalent of around 9.5 trillion litres – and the fact that on an average 25 per cent of water that enters a building ultimately goes to waste, water management has never been more crucial for commercial, residential and industrial businesses worldwide. Advanced technology innovations powered by artificial intelligence (AI) means water consumption monitoring, leak detection and water damage prevention can be done more accurately, cost-efficiently and while maintaining positive ROI across the board.
The renewed role of AI in water management
Over 25 per cent of the water entering a building, construction site or industrial facility goes to waste, so it’s no surprise that organisations are seeking new solutions to a costly and impactful problem. Challenges stem from those at the helm having little visibility of their entire water systems. Thankfully, the use of artificial intelligence may offer a way forward.
By integrating AI algorithms into your water management solutions, you can gain real-time monitoring, anomaly detection, root cause analysis and actionable insights, allowing you to respond instantly to any incidents that arise. This enables automatic shut-off if a leak is detected, offering peace of mind to the property owner and guaranteed security from water damage and reputational disasters to your business.
From an environmental perspective, the statistics are damning; on average, every cubic metre of water consumed generates 23lb (or 10.6Kg) of carbon emissions. When you consider just one leaky toilet wastes some 4.5 million litres and generates 46 tons of carbon emissions per year, as much as a typical passenger car, it’s essential for decision makers to embrace AI-led sustainable solutions.
How AI can assist in ESG reporting
With the incoming ESG reporting regulations, scrutiny will naturally increase on businesses. And with greater due diligence and transparency on ESG criteria that are used to assess companies, leaders must ensure they have a clear understanding of their environmental output.
Helping the planet doesn’t have to be the sole motivation. Currently, these ratings also have an impact on how investment funds that are termed as sustainable carry out their stock picking, as well as increasing property values. Customers, too, are becoming increasingly principled when it comes to a business’ sustainability record.
Water waste should be recognised as a significant portion of the wider sustainability picture. Utilising AI’s capabilities in your water management system will guarantee an accurate and up-to-date overview of your facility’s metrics. This results in precise and tangible ESG reporting, meaning that new regulations are of little worry and your business reputation is intact.
To ensure ESG ratings address the issues correctly, some oversight can be useful; it can help create clarity and ensure the right goals are addressed. Yet as with any government intervention, we strongly urge a minimalistic approach that will help guide the market while not creating overbearing requirements that can stifle innovation.
Technological advancements in water management enables business leaders’ greater control, understanding and accuracy when it comes to water management. Together with fresh ESG regulation, it will ensure organisations are reducing the global carbon footprint and are conscious of water savings.
