Non-financial reporting is becoming key among investors – and firms are using indoor air quality data to demonstrate ESG and wellbeing action.
It’s a year of firsts for ESG in Irish business, with the inaugural ESG Summit in Croke Park in May followed closely by the inaugural ESG Awards in the Mansion House in June, enthusiastically attended by board members, building managers and asset owners. Expect many more in the years to come, as Environmental, Social and Governance policy becomes ever more deeply embedded in the corporate and investment worlds.
This latest addition to the alphabet soup of paradigm shifts in 21st Century business practice has the laudable goal of making the world a more sustainable place for everyone, and for ensuring that investment flows towards those companies who can demonstrate positive action towards climate change, the people, communities and societies with which they interact, and the way that they do business in the modern world.
ESG is a key component of the World Economic Forum’s (WEF’s) ‘Great Reset’, and it has sparked a surge in activity among audit and advisory experts, hoping to steer responsible companies down a very noisy path, towards greater value and profitability in the years ahead. Non-financial, ESG-based reporting and auditing is certain to become at least as important as financial metrics when investors are assessing who will win their funds.
Where’s the impact?
And therein lies the rub. For accurate reporting, we need accurate data. Even better if this data is graded according to internationally recognised standards. It’s easy enough to measure your utility usage and provide regulatory bodies with a clear picture of its impact on the Environment. Or to record and demonstrate the impact of enhanced Governance measures in your annual report to shareholders. It’s far more difficult to quantify the impact of Social, say, within employee wellness initiatives such as the Wednesday Walkathon or Free Burger Friday. Gains or reductions on the weighing scales don’t count.
This is one reason why many corporates are adding indoor air quality monitoring services to their ESG and wellness mix. If one key strand of employee wellness is the provision of a safe and healthy workplace, and the Covid-19 pandemic has catalysed concern over the quality of the air we breathe indoors, then responsible employers are rightly taking measures to enhance ventilation in buildings – and using ZiggyTec to prove it.
ZiggyTec’s smart sensors monitor the quality of air in workplaces, measuring five key parameters that can harm health and productivity. We measure CO2, Particulate Matter, Volatile Organic Compounds, Temperature and Humidity and provide actionable insights on keeping all of these at a safe level within the workplace.
Reports tailored to clients’ requirements
The discrete sensors are placed at optimum locations around the workplace, and the data is sent to the cloud via innovative Internet of Things (IoT) technology. Clients can access this data through reports tailored to their requirements – some require access to information in real-time, while others use monthly reports to measure, monitor and mitigate against air quality issues, keeping employees safe and ensuring peace of mind.
In every case, the cost-effective service allows building managers and asset owners to quantify an ‘S’-related activity as part of their overall ESG goals.
The benefits of indoor air quality monitoring extend beyond this purpose too. Many clients use the intelligence provided by our reports to optimise their use of energy-sapping ventilation systems, reducing emissions in a data-driven way. Or to optimise their heating and cooling systems, to the same effect. Others use the service to gain sustainability accreditation, such as RESET Air.
While organisations are now well on the road to ESG-based operations, the concept itself remains quite new, and there are plenty of bumps ahead. While the nature of the ‘Social’ aspect makes it the most difficult to quantify, it will become more practical in time. But firms who want to act in this year of firsts for ESG can do so now, and in a very cost-effective way, by measuring, monitoring and reporting on the quality of the air in their workplace. All while keeping employees safe and well, and giving them enhanced peace of mind at work.