The Data Police

For anyone in the Real Estate sector, from the banks investing in green assets to the residents living in new build sustainable communities; ESG data is integral. Not just for measuring impact (positive or otherwise), but also to understand why changing our behaviours is so important.

Yes, Net Zero Carbon (NZC) is set for 2050, but there are also key goals to achieve along the road to 2050; and it all comes down to proof. Proof of reducing carbon emissions, proof of understanding and improving Scope 3 Emissions, and proof that you’re making the required movements ahead of 2050.

But how can you prove anything without data? And if we have the data to prove progress, who is policing it to ensure there is data integrity?

Utopi as a business operate in the space of ESG. Our ESG Technology bridges the gap between PropTech and ClimateTech, and our Yahtzee moment has been in innovating solutions that automate ESG data collection. Real time, granular insights to allow stakeholders along the value chain to understand their impact and their power to reduce emissions. And as a business with ethics at its core, we are always assessing this idea of data integrity and how we can ensure the ESG data we acquire is accurate and used in the right ways.

So, what is Data Integrity?

Data integrity is ensuring the data we gain from real estate assets is trustworthy, honest, accurate, and therefore can be used to make confident decisions with regards to that asset. But it goes beyond just gathering honest, real-world data; it’s also about using that data to proactively avoid problems and it’s also about using that data to unlock additional insights that make the data more powerful for asset owners, operators and residents.

For ESG data specifically:

And with such a wide variety of data needed to report on ESG performance, ensuring the data gathered has integrity will ensure there are no additional road bumps on the path to NZC.

Solution 1: Consistency in Data Management to Build Transparency.

When it comes to prioritising data integrity, there needs to be consistency in data management. With multiple sources and different reporting structures, data can quickly become numbers rather than the valuable insights it needs to be. So often, we see Operators using a BMS that an Owner doesn’t use, and sometimes even facilities management teams use a different tool altogether. If data integrity is going to become industry standard, and in the space of ESG data it simply has to, then having one single source of truth for data management is essential. Ultimately, getting to NZC is going to be a team effort, and that means every stakeholder along the value chain needs to have access to the same data.

Solution 2: Ensuring Data is Modelled to Unlock Powerful Insights.

Acquiring the data is one thing, but the real power of this data is when it’s modelled to unlock powerful insights. This additional layer of data-use strengthens any data integrity strategy because it can uncover problems and trends before they become a problem. For example, the Utopi Multisensor can gather data on air quality in every room – but without understanding the ‘so what?’ of that quality score, how would you know to address it. It’s all about using that data in the Utopi Platform to map CO2 levels and understand if something sinister is happening in a room, or whether its due to something else. Unlocking these insights in real-time then enhances operational efficiency because in the context of PBSA, site teams can go visit the room in question and offer support to the students living there.

Where does Utopi fit into this Data Ecosystem:

Utopi sits across the full lifecycle of data integrity, from collecting the valuable data to using the data to measure, report and analyse ESG performance, even using those powerful insights to gain Asset Level Certifications or find Carbon Reduction Strategies through our Advisory Service.

1. Collecting the Data. Product: Utopi Multisensor and Metering Hardware

Automatic wellbeing data collection in every space, from the Utopi Multisensor to Metering Solutions and People Counting. Using IoT Devices to gain valuable data on real estate assets. For example, understand communal space use with people counting and reduce energy waste by monitoring apartment occupancy, and use our Multisensor to gain granular data on every room in your building. From temperature and light to noise, humidity, air quality and motion.

2. Reporting with the Data. Product: Utopi Platform

The nerve centre of our innovation, once that data is collected, we analyse your data and apply context onto easy to digest dashboards and reports. The Utopi Platform gives space level data like never seen before and puts this data in the hands of your communities to inspire them to take action against the climate crisis.

3. Using the Data. Product: Advisory Services

Then once the data is collected and ESG performance is understood, our Advisory Service experts can help you then use that data to improve every aspect of your asset’s performance. From gaining asset level certifications, to curating carbon reduction pathways for your assets, to assessing policies and procedures and ensuring you’re covering E, S and G.

For more information on Utopi and how we can transform your ESG performance, make sure to get in touch.

Ben Roberts (Chief Growth Officer and Co-Founder)