“As the SEC advances its rulemaking to address climate change and real estate’s impact on the environment, ESG has become a priority for the real estate industry,” said Lisa Stanley, CEO of OSCRE International.
ORLANDO, Fla. (PRWEB) February 13, 2023
Leading organizations have joined OSCRE International’s (“OSCRE”) Environmental Data Standards Working Group - a real estate industry effort to standardize environmental data. Standardization is a key piece in the corporate and investment real estate sectors’ efforts to better measure progress on sustainability goals.
Corporate members of OSCRE participating in this initiative include:
- BentallGreenOak
- Blackstone
- Brookfield Properties
- CBRE
- CoreNet Global
- Cushman & Wakefield
- Dealpath
- EBusiness Strategies
- Ernst & Young
- Hines
- International Facility Management Association (IFMA)
- JLL
- Lionpoint
- Intuit
- MRI Software
- Yardi
The Environmental Data Standards Working Group has completed the scoping phase of the project and will move to the development phase this month.
“As the SEC advances its rulemaking to address climate change and real estate’s impact on the environment, ESG has become a priority for the real estate industry,” said Lisa Stanley, CEO of OSCRE International. “The purpose of the Environmental Data Standards Project is to bring together a diverse group of real estate stakeholders to address a common need – a standardized approach to collect, analyze and report data that’s collected across platforms that don’t communicate with each other.”
This data is collected at the property level and is critical to guide decisions on a portfolio’s environmental impact. While investors, landlords and tenants may have different approaches to how they use and report environmental information, they are reliant on each other for usage and emissions data that is readily accessible, consistent and accurate. The current approach to collecting and managing environmental data often falls short. It typically involves an individual organization collecting disparate data from multiple sources, manually extracting what’s relevant and transferring it to a spreadsheet for reporting and decision-making.
“More and more businesses are realizing two things: that environmental data standardization will be essential to measuring and communicating progress toward sustainability goals and that developing those standards is not something they can or should do on their own,” said Michael Daschle, Project Co-chair and Senior Vice President of Sustainability at Brookfield Properties. “The participants bring to the table insights and viewpoints that will make the project’s end result that much more comprehensive, valuable and relevant.”
For more information about the project, contact info@oscre.org.
About the OSCRE Environmental Data Standards Project
The OSCRE Environmental Data Standards Project was launched in November 2022 to improve the collection, analysis and reporting of environmental data commercial real estate (CRE) stakeholders use to assess the industry’s environmental impact.About OSCRE International, Inc. OSCRE International is a corporate member organization focused on the development and implementation of real estate data standards that form the foundation of a powerful strategy for digital transformation. OSCRE's tools and training programs enable you and your organization to empower data across the entire real estate asset lifecycle. http://www.oscre.org
# # #