The Greener Path to Gold: Stoneweg US’ Case for ESG

That title may invoke visions of leprechauns. Don’t worry; we’re not after your lucky charms. But we are after the inefficiencies in your properties.

When you think of Environmental, Social, and Governance (ESG), we doubt you think of missed dollars and opportunities. In fact, you probably think about added expenses. And you’re not wrong. Building Performance Standards (BPS) generally require retrofitting existing properties, and with rent rates at a standstill, recouping that expense won’t happen in the short term. What if we told you that viewing ESG expenses as a long-term investment is crucial not only for a greener planet but also for your bottom line?

Our partners at Stoneweg US took a leap of faith with our ESG team and adopted a proactive approach toward environmental management and sustainability. Spoiler alert: it paid off in a big way. Check out the Stoneweg US case study to see for yourself.

Profit and Purpose: ESG Pays Big

When it comes to smart investments and smarter choices for the planet, ESG is at the top. According to this study, ESG links directly to value creation in five ways:

• Top-line growth: sustainable products attract more customers

• Cost reductions: lower energy consumption lowers expenses

• Regulatory and legal interventions: earn subsidies and government support

• Productivity uplift: boost employee motivation and attract new talent with social credibility

• Investment and asset optimization: better allocation of capital with enhanced investment returns

We saw this firsthand with Stoneweg US. Rather than merely meeting minimum ESG compliance standards, Stoneweg US focused on continuous responsible growth and improvement. By weaving ESG practices into their operations, Stoneweg US has ultimately lowered the utility expense burden for their residents, enhanced margins for investors, and contributed to making a more sustainable built environment for the earth we share.

Data is King: How Numbers Can Change Our World

If you’ve made it this far, you’re ready to implement ESG strategies into your business model. Collecting and analyzing ESG data is the first and most important step. It’s impossible to improve what you don’t know. Gathering building data not only allows you to set realistic goals, but also allows you to establish transparency, trust, and accountability to appeal to future investors, employees, and customers.

Capturing accurate data, especially tenant data, can be a challenge. Implementing manual metering systems can significantly increase whole-building data coverage and ensure future-proof utility data collection. This approach enables the property manager to address property-level issues proactively, reducing operating costs and enhancing portfolio value.

This was proven true by Stoneweg US and the numbers speak for themselves. They saw an impressive 33% increase in GRESB performance in 2023. Their whole building data coverage went from less than 20% to over 80% by partnering with Conservice.

Finding this data doesn’t have to be complicated. Take it from Stoneweg US Sustainability Analyst, Andrew Bilodeau. He said:

“By handling our data collection in a phased and accretive fashion, we laid a solid foundation for our GHG inventory. Now, this aspect of our work primarily involves maintenance, as the initial heavy lifting of data collection and organization is complete.”

Gas-tly Waste: GHG Inventory and Waste Management

Measuring greenhouse gas (GHG) emissions is vital for sustainable growth. Tracking energy consumption and waste generation shows property managers where they can take energy efficiency measures and ultimately save money.

Stoneweg US did just that and revealed that 92% of their properties’ energy consumption was attributed to resident use. With the help of Conservice, they built a detailed inventory of mechanical systems, appliances, fixtures, and other attributes, facilitating effective refrigerant management across their portfolio.

A critical component of Stoneweg US’s ESG strategy is waste management. By leveraging Conservice’s WasteX solution, they collected valuable waste data, revealing that waste contributed to nearly 20% of their total emissions. This insight prompted action, leading to a 5% diversion of waste from landfills across, equivalent to nearly 100,000 pounds of waste per month.

A Brighter Future with ESG

As laws and regulations continue to favor sustainable business practices, it’s no longer enough to have a reactive ESG approach. Forbes predicts that by 2035, companies that did not make the shift to a proactive approach will drastically endanger their chances of long-term survival. Consumers and investors are increasingly basing their buying decisions on how closely a business aligns with their growing awareness of environmental and social issues and “greenwashing,” or empty promises to improve ESG strategies will not suffice. Real, measurable progress will be the only metric worth mentioning.

Stoneweg US’ partnership with Conservice has already set them ahead of the curve. By using strategic ESG integration, data-driven insights, and proactive management, Stoneweg US is reaping the environmental and financial benefits.

You can view the free Stoneweg case study today!

Kellianne Gammill

Copywriter

Kellianne Gammill is an experienced wordsmith and Copywriter at Conservice. More importantly, she is a big fan of taxidermy and Pitbull.