Article
7
min read
Natalie Patton

May Pro Member Gathering Recap: Interview with Jamestown's Becca Timms

June 2, 2023

This month’s Member Gathering featured a wide-ranging conversation with Becca Timms, Director of ESG at Jamestown. For this recap, we’re formatting it as a written interview  to cover the topics discussed in chunks. We’ll cover: 

  • Jamestown and their ESG initiatives
  • Project roll-outs and why some have gone better than others
  • How ESG reporting is not that big of a deal and Jamestown’s reporting tech stack
  • When social capital can be the real change-maker

Nexus Pro members: be sure to watch the recording for the full conversation. Enjoy! 

Q: How does Jamestown envision their portfolio’s tech stack and how does that fit into their ESG initiatives?

A: Jamestown, if you’re not familiar with us, is a real estate investment manager and owner, very design focused. As of December 312, we had $13.2 billion in assets under management. Really our goal as a company is to transform spaces into innovation hubs and community centers. And, obviously, we’re focused on making money for our investors. We do that through a couple different ways. A lot of my work and day-to-day focus is on that value creation and figuring out how we can align our ESG priorities with our ethos and approach as a firm.

Every real estate portfolio is a special snowflake and we all think our buildings are the toughest. When it comes to technology, it’s important because there is a lot of variation by geography, use type, and even by the team at the building level. 

But, investors aren’t calling up and saying “Hey, what’s your tech stack? We’re going to judge you on that. We’re going to give you a score.” 

We see the future and our ability to achieve our goals as tech-enabled, but sometimes that can get a little muddy. But when it comes to our ideal building stack and what we consider a fully tech-enabled building, energy management is the key opportunity.

We’re really focusing on increasing the efficiency of our buildings and so we’re doing that through technology.

Q: We at Nexus Labs love the tech stack - from a strategic standpoint, if you look at your portfolio, what are the layers that you guys are trying to get implemented?

A: Our categories are data and analytics, digital leasing and marketing construction ops, and then we have stacks by vertical like office, retail, multi-family, parking and mobility, property management, health and wellness, sustainability and smart buildings. 

That’s a lot. And within that, we’ve got so many different categories and I think it also represents why our [sustainability and innovation teams are combined]. We’re doing a lot with location intelligence. I haven’t figured out how to add that to ESG but we’re doing a ton on GIS mapping, foot traffic, public surveys, more macro-economic data. We’re using VTS, Matterport, virtual leasing and touring tools, construction offices, electrification of construction process, modular walls. We have different things to really make for what we call a delightful and frictionless tenant experience.

We look for things like HQO, how do you talk to tenants, we’re doing a lot with lactation rooms. I’m also interested in how energy management can talk to access control. We’ve talked about all of these disparate systems and over time, I’m really interested in how we can use some of these to manage our energy, just as one example.

Q: How has ESG changed over the years?

A: Jamestown started focusing on sustainability back in 2008. I was hired in 2012 and really what’s happened over those years is the whole concept of ESG within real estate has really matured. We used to just do stuff - we made investments in our buildings, we put out some marketing materials. Now all of the ESG work is very regimented and regulated. Even the disclosures you see at the bottom of the screen, those are new SEC marketing requirements. 

So now there are a lot more boxes to check. And what I really try to do through my approach is make sure that we’re checking the hell out of those boxes. It’s really important, investors care a lot about it, and it stinks if you’re doing great stuff and don’t get to report on it. But I think the biggest frustration that I have in my day-to-day role is that what you do for reporting is ultimately very divorced from what you do to drive NOI and increase the value of your buildings.

What I mean by that is, when I report to GRESB or PRI or ENERGY STAR or even apply for awards, we’re often not judged on our financial performance. We’re judged on our energy or carbon performance or other broader ESG topics. So I really aim and have challenged my team to close that gap and make sure that if we’re doing something so that we can earn a few points on GRESB that we’re actually following through with it and making sure that we’re creating value.

Q: But reporting must be so hard and time consuming, right?

A: I get a lot of emails from tech providers or people that have platforms and they’re like, sustainability reporting is so hard. We want to help you with your reporting. This might just be my opinion, but I don’t really need help with reporting. What I really need help with is driving both financial and environmental performance at the buildings. Reporting is not that hard. Don’t tell my boss that because it does take a lot of time, but we’ve automated a lot of it. When it comes to our sustainability reporting stack, all of our data is automated…

When it comes to our sustainability reporting stack, all of our data is automated through Schneider Electric and Cass Utilities into Energy Star which populates Measurabl and that’s what we use for reporting. So when it comes to the reporting, I find that part of the job easy because it’s like a test, right? When you do ESG reporting you get a score and it’s a pretty good roadmap. It’s not the end all be all, but it’s kind of a proxy for the stuff that you should be doing. And if you keep your head screwed on straight and you can also think as you check those boxes “how can I take this back and make sure that it drives value at the same time?” 

Q: How do you get sustainability projects started up and ultimately brought over the line?

A: We’ve got buildings all over the country and we don’t manage all of our buildings ourselves. So there’s a lot of cooks in the kitchen. We have a property management group and a director of operations but there was clearly a gap when it came to actively managing energy in our buildings. So the first thing we did was we started real time energy management. This was way back in the day, we worked with Enernoc on about five buildings. This was 2013 and we would do these calls with the chiefs and the regionals and if anybody’s ever done those calls, they were truly miserable. So we didn’t have good engagement. Despite all of our efforts, the property teams were enthusiastic, they weren’t rude or anything, but they weren’t engaged in the tool and we didn’t feel like we were getting a ton of value out of it. 

A couple years later, something kind of interesting happened. Through our relationship with Lincoln Property Company – we have a joint venture with them to manage a majority of our properties – they brought Acquicore to us. And Aquicore was, quite frankly, very similar to Enernoc in terms of what it did but what was really interesting about Acquicore was that I had nothing to do with it.

I was at a conference a couple of weeks ago and somebody asked me what I want to see in an energy management platform. I thought about it and I said I don’t want to see anything. I’m a director of ESG, I have a lot going on and I want my energy management platform to be so good and I want the teams to be so engaged that I don’t have to spend my time in it.

Q: Is a single tech solution across the whole portfolio important to Jamestown?

A: We have a diversified portfolio. SO we’ve tried other tools that are more focused on specific use types. We work with Logical Buildings in New York. I love that they can do Demand Response directly to residential units. We’ve tried to roll that out in DC and some other markets where we have multifamily assets and it’s just been a little trickier because of the utility function, but we’re hoping that improves. 

We have worked with others where we were just trying to get the data right. So I’m less concerned about having one system that is at every building. I moreso want to make sure that every building has a system. Because realistically, I’m the only one who logs into all of them. And I just use bookmarks and it’s not that big of a deal. We’ve learned by using multiple systems what we liked, what the teams liked, what made sense for each asset.

But within our innovation and sustainability team, we came up with a pilot and deployment model where we vet companies, we pilot them and then depending on how the pilot goes, we identify opportunities to scale. So one of the big shifts was we identified buildings that needed to go to the next step in terms of having automated system optimization in addition to just the energy information. 

Q: How does scaling up a pilot work within the portfolio?

A: We have been working with Prescriptive Data to get some automated system optimization in place and we’ve since rolled that out at another building in DC. Another less day-to-day energy management technology, we’ve piloted Carbon Lighthouse at an asset in DC. That’s more of a financing tool to help us identify projects, get the projects implemented and then monitor them so it’s essentially ongoing commissioning. But nonetheless, both of those I would say are deeper dives.

We’re really supported. We have a team dedicated to getting these pilots identified and deployed. I really feel in this space when it comes to our tech stack, there’s not just a single  solution. I’m a really big fan of partnering and being comfortable with the fact that all of this is somewhat iterative.

How do we pick a vendor? It really is more of an art than a science. I don’t want to harp on the change management thing, but you’ve got all these options and everything makes so much sense. But just because it makes sense doesn’t mean we’re able to do it. 

One of the things that I think about when it comes to introducing technology is you really have to be mindful of your political capital and your time and just how much energy these building teams have. We’re actively working on some diligence, identifying some opportunities and I’m just protective of how I engage with the property teams because in some ways it might be an email or a quick phone call but if I have to ask them for something, I’m trying to strategically hit them at the right time with the request. And also making sure that I’m bringing them something that they want.

A lot of what it comes down to with scaling is having as much data and having that data organized. So you can really say these are the opportunities where optimization makes sense today. Here’s where we only want to do energy monitoring, here’s where we want to do ongoing commissioning, and so we put our buildings in categories and match-make it that way.

Q: How do you handle that change management once the tool is installed at the site level?

A: A lot of it is just community. I think being really clear and intentional about your communication is really important. And being aware of other things going on at the building. A lot of what I know about the buildings comes down to relationships. I’ve walked the site with these engineers, I’ve seen them a handful of times so they know I’m not some tree-hugging loon that’s going to tell them how to do their job. Building that social capital is really important.

I interviewed the engineers and asked what was their wish list, what are your pain points. What we learned with the first pilot we did with Prescriptive Data was that our engineer was like MacGyver. He was doing some crazy stuff to control temperature with duct static pressure. Taking a step back we were like wow, he’s actually doing a lot with very few tools. Maybe we should consider moving some of these capital projects up sooner. So rather than being threatening or saying you’re not going a good enough job, it was like maybe we need to get more of these floors on DDC sooner rather than keeping those projects out to like 2027.

Q: We can’t round this out without mention of the Independent Data Layer, can we?

A: That’s one thing that I do want to talk about and I think this group will find interesting. The independent data layer and what’s happening within energy management in particular for a lot of organizations is very interesting. This aspect of our business has matured a little bit faster than some of the infrastructure that supports your independent data layer, your converged networks. I’m at the limits of my knowledge here, but where I’m sitting, we need this. I don’t want to have to call up a team to get access to a building. I want to run a pilot with all of you guys without having to bother the team at all. That’s the holy grail for me. That we can nerd out in the background and do all our work and then take the stuff to the teams with it on a platter and they don’t have to fuss with it as much.

If you can believe it, much more was discussed in the brief time we had scheduled, so definitely watch the recording a few times to fully digest all of Becca’s wisdom. And be sure to sign up for the next SME workshop on June 8 on How The Design And Construction Process Fits Into Smart Building Tech with Nexus Pro member Mahmoud Shouman.

Upgrade to Nexus Pro to continue reading

Upgrade

When it comes to our sustainability reporting stack, all of our data is automated through Schneider Electric and Cass Utilities into Energy Star which populates Measurabl and that’s what we use for reporting. So when it comes to the reporting, I find that part of the job easy because it’s like a test, right? When you do ESG reporting you get a score and it’s a pretty good roadmap. It’s not the end all be all, but it’s kind of a proxy for the stuff that you should be doing. And if you keep your head screwed on straight and you can also think as you check those boxes “how can I take this back and make sure that it drives value at the same time?” 

Q: How do you get sustainability projects started up and ultimately brought over the line?

A: We’ve got buildings all over the country and we don’t manage all of our buildings ourselves. So there’s a lot of cooks in the kitchen. We have a property management group and a director of operations but there was clearly a gap when it came to actively managing energy in our buildings. So the first thing we did was we started real time energy management. This was way back in the day, we worked with Enernoc on about five buildings. This was 2013 and we would do these calls with the chiefs and the regionals and if anybody’s ever done those calls, they were truly miserable. So we didn’t have good engagement. Despite all of our efforts, the property teams were enthusiastic, they weren’t rude or anything, but they weren’t engaged in the tool and we didn’t feel like we were getting a ton of value out of it. 

A couple years later, something kind of interesting happened. Through our relationship with Lincoln Property Company – we have a joint venture with them to manage a majority of our properties – they brought Acquicore to us. And Aquicore was, quite frankly, very similar to Enernoc in terms of what it did but what was really interesting about Acquicore was that I had nothing to do with it.

I was at a conference a couple of weeks ago and somebody asked me what I want to see in an energy management platform. I thought about it and I said I don’t want to see anything. I’m a director of ESG, I have a lot going on and I want my energy management platform to be so good and I want the teams to be so engaged that I don’t have to spend my time in it.

Q: Is a single tech solution across the whole portfolio important to Jamestown?

A: We have a diversified portfolio. SO we’ve tried other tools that are more focused on specific use types. We work with Logical Buildings in New York. I love that they can do Demand Response directly to residential units. We’ve tried to roll that out in DC and some other markets where we have multifamily assets and it’s just been a little trickier because of the utility function, but we’re hoping that improves. 

We have worked with others where we were just trying to get the data right. So I’m less concerned about having one system that is at every building. I moreso want to make sure that every building has a system. Because realistically, I’m the only one who logs into all of them. And I just use bookmarks and it’s not that big of a deal. We’ve learned by using multiple systems what we liked, what the teams liked, what made sense for each asset.

But within our innovation and sustainability team, we came up with a pilot and deployment model where we vet companies, we pilot them and then depending on how the pilot goes, we identify opportunities to scale. So one of the big shifts was we identified buildings that needed to go to the next step in terms of having automated system optimization in addition to just the energy information. 

Q: How does scaling up a pilot work within the portfolio?

A: We have been working with Prescriptive Data to get some automated system optimization in place and we’ve since rolled that out at another building in DC. Another less day-to-day energy management technology, we’ve piloted Carbon Lighthouse at an asset in DC. That’s more of a financing tool to help us identify projects, get the projects implemented and then monitor them so it’s essentially ongoing commissioning. But nonetheless, both of those I would say are deeper dives.

We’re really supported. We have a team dedicated to getting these pilots identified and deployed. I really feel in this space when it comes to our tech stack, there’s not just a single  solution. I’m a really big fan of partnering and being comfortable with the fact that all of this is somewhat iterative.

How do we pick a vendor? It really is more of an art than a science. I don’t want to harp on the change management thing, but you’ve got all these options and everything makes so much sense. But just because it makes sense doesn’t mean we’re able to do it. 

One of the things that I think about when it comes to introducing technology is you really have to be mindful of your political capital and your time and just how much energy these building teams have. We’re actively working on some diligence, identifying some opportunities and I’m just protective of how I engage with the property teams because in some ways it might be an email or a quick phone call but if I have to ask them for something, I’m trying to strategically hit them at the right time with the request. And also making sure that I’m bringing them something that they want.

A lot of what it comes down to with scaling is having as much data and having that data organized. So you can really say these are the opportunities where optimization makes sense today. Here’s where we only want to do energy monitoring, here’s where we want to do ongoing commissioning, and so we put our buildings in categories and match-make it that way.

Q: How do you handle that change management once the tool is installed at the site level?

A: A lot of it is just community. I think being really clear and intentional about your communication is really important. And being aware of other things going on at the building. A lot of what I know about the buildings comes down to relationships. I’ve walked the site with these engineers, I’ve seen them a handful of times so they know I’m not some tree-hugging loon that’s going to tell them how to do their job. Building that social capital is really important.

I interviewed the engineers and asked what was their wish list, what are your pain points. What we learned with the first pilot we did with Prescriptive Data was that our engineer was like MacGyver. He was doing some crazy stuff to control temperature with duct static pressure. Taking a step back we were like wow, he’s actually doing a lot with very few tools. Maybe we should consider moving some of these capital projects up sooner. So rather than being threatening or saying you’re not going a good enough job, it was like maybe we need to get more of these floors on DDC sooner rather than keeping those projects out to like 2027.

Q: We can’t round this out without mention of the Independent Data Layer, can we?

A: That’s one thing that I do want to talk about and I think this group will find interesting. The independent data layer and what’s happening within energy management in particular for a lot of organizations is very interesting. This aspect of our business has matured a little bit faster than some of the infrastructure that supports your independent data layer, your converged networks. I’m at the limits of my knowledge here, but where I’m sitting, we need this. I don’t want to have to call up a team to get access to a building. I want to run a pilot with all of you guys without having to bother the team at all. That’s the holy grail for me. That we can nerd out in the background and do all our work and then take the stuff to the teams with it on a platter and they don’t have to fuss with it as much.

If you can believe it, much more was discussed in the brief time we had scheduled, so definitely watch the recording a few times to fully digest all of Becca’s wisdom. And be sure to sign up for the next SME workshop on June 8 on How The Design And Construction Process Fits Into Smart Building Tech with Nexus Pro member Mahmoud Shouman.

Upgrade to Nexus Pro to continue reading

Upgrade

When it comes to our sustainability reporting stack, all of our data is automated through Schneider Electric and Cass Utilities into Energy Star which populates Measurabl and that’s what we use for reporting. So when it comes to the reporting, I find that part of the job easy because it’s like a test, right? When you do ESG reporting you get a score and it’s a pretty good roadmap. It’s not the end all be all, but it’s kind of a proxy for the stuff that you should be doing. And if you keep your head screwed on straight and you can also think as you check those boxes “how can I take this back and make sure that it drives value at the same time?” 

Q: How do you get sustainability projects started up and ultimately brought over the line?

A: We’ve got buildings all over the country and we don’t manage all of our buildings ourselves. So there’s a lot of cooks in the kitchen. We have a property management group and a director of operations but there was clearly a gap when it came to actively managing energy in our buildings. So the first thing we did was we started real time energy management. This was way back in the day, we worked with Enernoc on about five buildings. This was 2013 and we would do these calls with the chiefs and the regionals and if anybody’s ever done those calls, they were truly miserable. So we didn’t have good engagement. Despite all of our efforts, the property teams were enthusiastic, they weren’t rude or anything, but they weren’t engaged in the tool and we didn’t feel like we were getting a ton of value out of it. 

A couple years later, something kind of interesting happened. Through our relationship with Lincoln Property Company – we have a joint venture with them to manage a majority of our properties – they brought Acquicore to us. And Aquicore was, quite frankly, very similar to Enernoc in terms of what it did but what was really interesting about Acquicore was that I had nothing to do with it.

I was at a conference a couple of weeks ago and somebody asked me what I want to see in an energy management platform. I thought about it and I said I don’t want to see anything. I’m a director of ESG, I have a lot going on and I want my energy management platform to be so good and I want the teams to be so engaged that I don’t have to spend my time in it.

Q: Is a single tech solution across the whole portfolio important to Jamestown?

A: We have a diversified portfolio. SO we’ve tried other tools that are more focused on specific use types. We work with Logical Buildings in New York. I love that they can do Demand Response directly to residential units. We’ve tried to roll that out in DC and some other markets where we have multifamily assets and it’s just been a little trickier because of the utility function, but we’re hoping that improves. 

We have worked with others where we were just trying to get the data right. So I’m less concerned about having one system that is at every building. I moreso want to make sure that every building has a system. Because realistically, I’m the only one who logs into all of them. And I just use bookmarks and it’s not that big of a deal. We’ve learned by using multiple systems what we liked, what the teams liked, what made sense for each asset.

But within our innovation and sustainability team, we came up with a pilot and deployment model where we vet companies, we pilot them and then depending on how the pilot goes, we identify opportunities to scale. So one of the big shifts was we identified buildings that needed to go to the next step in terms of having automated system optimization in addition to just the energy information. 

Q: How does scaling up a pilot work within the portfolio?

A: We have been working with Prescriptive Data to get some automated system optimization in place and we’ve since rolled that out at another building in DC. Another less day-to-day energy management technology, we’ve piloted Carbon Lighthouse at an asset in DC. That’s more of a financing tool to help us identify projects, get the projects implemented and then monitor them so it’s essentially ongoing commissioning. But nonetheless, both of those I would say are deeper dives.

We’re really supported. We have a team dedicated to getting these pilots identified and deployed. I really feel in this space when it comes to our tech stack, there’s not just a single  solution. I’m a really big fan of partnering and being comfortable with the fact that all of this is somewhat iterative.

How do we pick a vendor? It really is more of an art than a science. I don’t want to harp on the change management thing, but you’ve got all these options and everything makes so much sense. But just because it makes sense doesn’t mean we’re able to do it. 

One of the things that I think about when it comes to introducing technology is you really have to be mindful of your political capital and your time and just how much energy these building teams have. We’re actively working on some diligence, identifying some opportunities and I’m just protective of how I engage with the property teams because in some ways it might be an email or a quick phone call but if I have to ask them for something, I’m trying to strategically hit them at the right time with the request. And also making sure that I’m bringing them something that they want.

A lot of what it comes down to with scaling is having as much data and having that data organized. So you can really say these are the opportunities where optimization makes sense today. Here’s where we only want to do energy monitoring, here’s where we want to do ongoing commissioning, and so we put our buildings in categories and match-make it that way.

Q: How do you handle that change management once the tool is installed at the site level?

A: A lot of it is just community. I think being really clear and intentional about your communication is really important. And being aware of other things going on at the building. A lot of what I know about the buildings comes down to relationships. I’ve walked the site with these engineers, I’ve seen them a handful of times so they know I’m not some tree-hugging loon that’s going to tell them how to do their job. Building that social capital is really important.

I interviewed the engineers and asked what was their wish list, what are your pain points. What we learned with the first pilot we did with Prescriptive Data was that our engineer was like MacGyver. He was doing some crazy stuff to control temperature with duct static pressure. Taking a step back we were like wow, he’s actually doing a lot with very few tools. Maybe we should consider moving some of these capital projects up sooner. So rather than being threatening or saying you’re not going a good enough job, it was like maybe we need to get more of these floors on DDC sooner rather than keeping those projects out to like 2027.

Q: We can’t round this out without mention of the Independent Data Layer, can we?

A: That’s one thing that I do want to talk about and I think this group will find interesting. The independent data layer and what’s happening within energy management in particular for a lot of organizations is very interesting. This aspect of our business has matured a little bit faster than some of the infrastructure that supports your independent data layer, your converged networks. I’m at the limits of my knowledge here, but where I’m sitting, we need this. I don’t want to have to call up a team to get access to a building. I want to run a pilot with all of you guys without having to bother the team at all. That’s the holy grail for me. That we can nerd out in the background and do all our work and then take the stuff to the teams with it on a platter and they don’t have to fuss with it as much.

If you can believe it, much more was discussed in the brief time we had scheduled, so definitely watch the recording a few times to fully digest all of Becca’s wisdom. And be sure to sign up for the next SME workshop on June 8 on How The Design And Construction Process Fits Into Smart Building Tech with Nexus Pro member Mahmoud Shouman.

This month’s Member Gathering featured a wide-ranging conversation with Becca Timms, Director of ESG at Jamestown. For this recap, we’re formatting it as a written interview  to cover the topics discussed in chunks. We’ll cover: 

  • Jamestown and their ESG initiatives
  • Project roll-outs and why some have gone better than others
  • How ESG reporting is not that big of a deal and Jamestown’s reporting tech stack
  • When social capital can be the real change-maker

Nexus Pro members: be sure to watch the recording for the full conversation. Enjoy! 

Q: How does Jamestown envision their portfolio’s tech stack and how does that fit into their ESG initiatives?

A: Jamestown, if you’re not familiar with us, is a real estate investment manager and owner, very design focused. As of December 312, we had $13.2 billion in assets under management. Really our goal as a company is to transform spaces into innovation hubs and community centers. And, obviously, we’re focused on making money for our investors. We do that through a couple different ways. A lot of my work and day-to-day focus is on that value creation and figuring out how we can align our ESG priorities with our ethos and approach as a firm.

Every real estate portfolio is a special snowflake and we all think our buildings are the toughest. When it comes to technology, it’s important because there is a lot of variation by geography, use type, and even by the team at the building level. 

But, investors aren’t calling up and saying “Hey, what’s your tech stack? We’re going to judge you on that. We’re going to give you a score.” 

We see the future and our ability to achieve our goals as tech-enabled, but sometimes that can get a little muddy. But when it comes to our ideal building stack and what we consider a fully tech-enabled building, energy management is the key opportunity.

We’re really focusing on increasing the efficiency of our buildings and so we’re doing that through technology.

Q: We at Nexus Labs love the tech stack - from a strategic standpoint, if you look at your portfolio, what are the layers that you guys are trying to get implemented?

A: Our categories are data and analytics, digital leasing and marketing construction ops, and then we have stacks by vertical like office, retail, multi-family, parking and mobility, property management, health and wellness, sustainability and smart buildings. 

That’s a lot. And within that, we’ve got so many different categories and I think it also represents why our [sustainability and innovation teams are combined]. We’re doing a lot with location intelligence. I haven’t figured out how to add that to ESG but we’re doing a ton on GIS mapping, foot traffic, public surveys, more macro-economic data. We’re using VTS, Matterport, virtual leasing and touring tools, construction offices, electrification of construction process, modular walls. We have different things to really make for what we call a delightful and frictionless tenant experience.

We look for things like HQO, how do you talk to tenants, we’re doing a lot with lactation rooms. I’m also interested in how energy management can talk to access control. We’ve talked about all of these disparate systems and over time, I’m really interested in how we can use some of these to manage our energy, just as one example.

Q: How has ESG changed over the years?

A: Jamestown started focusing on sustainability back in 2008. I was hired in 2012 and really what’s happened over those years is the whole concept of ESG within real estate has really matured. We used to just do stuff - we made investments in our buildings, we put out some marketing materials. Now all of the ESG work is very regimented and regulated. Even the disclosures you see at the bottom of the screen, those are new SEC marketing requirements. 

So now there are a lot more boxes to check. And what I really try to do through my approach is make sure that we’re checking the hell out of those boxes. It’s really important, investors care a lot about it, and it stinks if you’re doing great stuff and don’t get to report on it. But I think the biggest frustration that I have in my day-to-day role is that what you do for reporting is ultimately very divorced from what you do to drive NOI and increase the value of your buildings.

What I mean by that is, when I report to GRESB or PRI or ENERGY STAR or even apply for awards, we’re often not judged on our financial performance. We’re judged on our energy or carbon performance or other broader ESG topics. So I really aim and have challenged my team to close that gap and make sure that if we’re doing something so that we can earn a few points on GRESB that we’re actually following through with it and making sure that we’re creating value.

Q: But reporting must be so hard and time consuming, right?

A: I get a lot of emails from tech providers or people that have platforms and they’re like, sustainability reporting is so hard. We want to help you with your reporting. This might just be my opinion, but I don’t really need help with reporting. What I really need help with is driving both financial and environmental performance at the buildings. Reporting is not that hard. Don’t tell my boss that because it does take a lot of time, but we’ve automated a lot of it. When it comes to our sustainability reporting stack, all of our data is automated…

⭐️ Pro Article

This article is for Nexus Pro members only

Upgrade to Nexus Pro
⭐️ Pro Article

This article is for Nexus Pro members only

Upgrade to Nexus Pro

Are you a Nexus Pro member yet? Join now to get access to our community of 600+ members.

Join Today

Have you taken our Smart Building Strategist Course yet? Sign up to get access to our courses platform.

Enroll Now

Get the renowned Nexus Newsletter

Access the Nexus Community

Head over to Nexus Connect and see what’s new in the community. Don’t forget to check out the latest member-only events.

Go to Nexus Connect

Upgrade to Nexus Pro

Join Nexus Pro and get full access including invite-only member gatherings, access to the community chatroom Nexus Connect, networking opportunities, and deep dive essays.

Sign Up