Key Takeaways:
- AI is transforming real estate sustainability: IBM is leveraging AI-driven predictive maintenance to enhance energy efficiency.
- Challenges in multi-tenant spaces: IBM faces hurdles in acquiring complete sustainability data due to leasing dynamics.
- Technology is available—scaling is the challenge: The key to sustainability progress lies in optimizing existing technologies rather than waiting for new breakthroughs.
AI’s Role in Real Estate Sustainability
IBM’s Global Real Estate organization is actively integrating AI to optimize energy efficiency and asset management. Stacey Gifford, IBM’s Environment and Sustainability Leader, highlighted AI’s role in predictive maintenance at Deloitte’s Climate Week NYC 2024. “We are now using enterprise asset management software that utilizes AI for predictive, preventative maintenance to help drive energy efficiency,” she said.
At Deloitte, Casey Carlson, Managing Director in Deloitte Services LP, echoed this sentiment. “We’re looking at AI to help us fill in gaps in gathering data and make predictions much faster.”
The Challenge of Leased Properties
IBM’s shift from owning to leasing office space presents challenges in tracking sustainability metrics. Gifford pointed out that data collection becomes complex in multi-tenant spaces. “We’re leaning on our landlords to provide us end-to-end data… Our waste data is commingled with other tenants, making it difficult to drive sustainability metrics.”
Carlson added that Deloitte faces similar hurdles. “Much of our portfolio is in existing facilities owned by landlords, so our influence on the building’s sustainability requires strategic leasing negotiations.”
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The Business Case for Sustainability Investments
Cost-benefit analysis is a major factor in sustainability decisions. “When there’s a clear cost benefit, it’s a relatively easy case to make,” said Gifford. “Otherwise, we lean on our sustainability goals—are these investments taking us in the right direction?”
Carlson noted Deloitte’s approach: “We put together a business case demonstrating savings or sustainability goals achieved through smarter space design.”
AI’s Future Impact on Green Real Estate
Gifford believes AI can play a critical role in predicting market trends for renewable energy and carbon credits. “So much is dependent on the carbon market today, but as we approach 2030, predicting those markets becomes harder. AI has an opportunity here.”
Carlson emphasized AI’s role in improving workplace engagement. “Customizing employee experiences through AI helps align behavior with sustainability goals.”
Scaling Technology for Real Impact
Gifford remains optimistic about the industry’s ability to meet sustainability goals. “We already have the technology we need—it’s about getting the pieces in place and scaling them correctly.”
Investor pressure is also driving action. “It’s no longer a nice-to-have,” she said. “Corporations now have an accountability mechanism to meet sustainability targets.”
