When we tell people we collect data for commercial real estate holdings to determine fair-market value, the question becomes: what kinds of data? Answer: all kinds.
From the WSJ: “Blackstone Group Inc., one of the world’s largest owners of real estate, is making a new commitment to cut its carbon footprint. The investment firm has set a goal of reducing carbon emissions by 15% within the first 3 years of buying any asset or company across its portfolio. The initiative will begin in 2021 and will apply to new investments where Blackstone controls the energy systems.
The firm is joining with French energy and digital-automation company Schneider Electric to track its progress. Schneider will tabulate usage, cost and associated emissions data based on monthly energy bills from each new piece of Blackstone’s portfolio. Emissions reductions will be reported in aggregate against the firm’s overall target.
“We said: Now that we have the experience, the team, the capabilities and the technology, why don’t we set a real goal?” said Blackstone President Jonathan Gray. “We’re numbers-oriented people, so by putting a target on it, we give the companies something they’re really going to go after.””
Add carbon emissions to the ever-growing list. Data tells the story of an assets’ worth.