Modern facilities management is evolving at a phenomenal rate, and according to Georg Kell via Forbes, today’s Facilities Managers are increasingly interested in the use of environmental, social and governance (ESG) factors in making maintenance and investing decisions. When you think about it, maintenance planning is a type of investment strategy. It focuses on reducing the total cost of ownership (TCO) associated with facility assets and strives to lower overall spend. Facilities Managers need to understand the driving forces of integrated ESG in maintenance today to stay active and productive.
1. Increasing Regulations Undermine the Efficiency of Investment Decisions
Over recent years, new legislation has been enacted that will require companies to implement energy efficiency standards and reduce carbon footprints. This is part of a primary drive to minimize the effect of climate change on the United States, and it forms the basis of the “Green New Deal.” Failure to consider the potential fines and penalties assessed by governments for failure to meet energy efficiency standards may decrease eligibility for incentive programs and result in added expenses. Ultimately, companies that fail to respond to the threat of climate change will face considerable uncertainty.
2. Consumers Expect Businesses to Make Sustainable Decisions
Today’s consumers have access to more information than ever before, and they apply this information when making decisions about where to shop with whom to do business. One of the driving forces of integrated ESG in maintenance includes the impact of maintenance on consumers and vice versa. This is the social aspect of ESG in facility maintenance. When a business understands how maintenance activities affect their consumers, they can reduce disruptions to guest experiences. Furthermore, customers expect companies to make fundamental sustainable decisions, reducing energy use and waste where possible.
3. High-Performance Facility Management Demands ESG in Maintenance Strategy
What defines an effective maintenance strategy? To answer that question, Facilities Managers must think about what sets “green” buildings apart. Although the language has changed over recent years, reports FM Link, high-performance buildings are dedicated to incorporating a strategic approach to facilities management. Since reactive maintenance requires assets to break down before addressing issues, Facilities Managers can gain the upper hand by implementing a proactive maintenance program. For instance, integrated ESG in maintenance will focus on how to reduce energy use by a facility’s assets. As assets age and fail, even when such failures are minor and do not result in cascading equipment failure, energy use increases and asset health or efficiency diminishes. Therefore, businesses that wish to ingrain ESG principles into the facility management and maintenance strategy must implement a proactive maintenance program. In addition, the use of big data and analytics can empower Facilities Managers with preventive, predictive maintenance planning, reducing unnecessary maintenance, and ensuring all assets function at peak performance.
Boost Your Maintenance Planning Now
Strategic maintenance involves considering how all maintenance activities will affect all other aspects of facilities management, including energy costs, impacts on guest experiences, and investment returns. Facility managers must understand the top three driving forces of ESG in facilities maintenance, and they should begin the process by implementing system controls and resources that empower ESG in facilities management. Push your maintenance planning into overdrive by partnering with ENTOUCH and focusing on how every activity affects ESG. Learn more by visiting ENTOUCH online today.