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Greater value can be gained from a different approach to measuring sustainability in FM ?>

Greater value can be gained from a different approach to measuring sustainability in FM

Most stakeholders are converging towards the need to monetise sustainability. But with so many criteria to measure, the FM industry lacks guidance on how it should approach the task.

The SFMI has found that there is a balance required between measuring, monetising, and contextualising data, when engaging with clients, investors, regulators and internal stakeholders. This balance is not being achieved. Assessing the risks and opportunities of the different criteria of sustainability alongside the measurement approach will address this balance in the way the information is presented to stakeholders. The SFMI also determines the need to analyse the FM risk and opportunity from a wider parent in most companies. This transparency will help to bridge the trust issues that are experienced in outsourced facilities management.

The key findings from the report – Measuring the Value of a Sustainable FM approach are:

Monetise what you can…: Most stakeholders converge on the need to monetise sustainability, as each are driven by financial ambitions.

…but monetisation is contentious: It can be valuable but impossible for some criteria. In fact, doing so can prevent dialogue with stakeholders.

Context required: There is a need for ESG data to be presented with contextual understanding of business risk and opportunity.

Current regulatory approach: Non-prescriptive regulation causes non-financial disclosure that lacks value to stakeholders. FM-specific guidance will the sector better understand risks and opportunities.

Cost-cutting contract model: Embedding sustainability into contracts brings value to measured data between client and the FM provider.

The SFMI will use this report as a launchpad for providing guidance and drawing consensus in the FM sector into how to measure a sustainable FM approach.

The Research Steering Committee of the Sustainable Facilities Management Index have released their 2017 report into how the FM sector measures the value of a sustainable FM approach.

The committee comprised of BAM FM Ltd, Bouygues Energies & Services, ENGIE, PwC, Skanska Facilities, and VINCI Facilities.

BAM FM Ltd are the sponsor of the report launched by the host PwC in Central London, 12th March 2018.

This research was borne of the acknowledgement that measurement and a financial understanding of sustainability’s benefits is immature in the FM sector, and in many others. Therefore, there is a need for further guidance to align sustainability with tangible monetary benefits to an organisation.

To progress the level of understanding that the FM companies and their stakeholders have, the SFMI research group utilised multiple research methods including desktop reviews, interviews, and surveys.

The full report is available now online.

The post Greater value can be gained from a different approach to measuring sustainability in FM appeared first on FMJ.

Source: FMJ

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