How can a housing cooperative mitigate the risks related to climate change risks?
Climate change represents one of the biggest challenges of today, but also housing cooperatives have possibilities to contribute to its mitigation. The new energy guide published by the Finnish Real Estate Management Federation in February 2024, provides concrete tips for improving energy efficiency, implementing emission-reducing repairs, and adapting to climate change. Improvements can be done without large investments, and thus the guide breaks down suggestions in manageable, everyday actions.
In the guide, Raksystems / Green Building Partners mapped out services and calculators that enable the assessment of the impact of different actions on the real estate’s energy efficiency, expenses, and emissions. The goal was to offer housing cooperatives and property managers a comprehensive overview of existing services and their suitability for specific needs. From several providers, the most promising candidates were selected for more thorough evaluation and testing.
We were pleased that esgResilience service, which is also highly suitable for the use of housing cooperatives, was chosen for closer evaluation. It offers a cost-effective approach to assessing a housing cooperative’s climate risks, including emission calculations, evaluating the greenness of future investments, and illustrating the housing cooperative’s net-zero pathway (in accordance with CRREM). The service is designed to assist also real estate companies in climate change mitigation and adaptation. The assessment is conducted through industry-specific questions and does not require prior knowledge of sustainability reporting, ESG, or “greenness,” only a good knowledge of your housing cooperative.
Experts at Raksystems highlight in their report that the esgResilience service offers housing cooperatives valuable insights into material risks associated with climate change, beyond just emission calculations. Instructions for using the service are straightforward, with comprehensive coverage of carbon footprint assessments. Moreover, it was recognized to be an advanced SaaS solution, improving its trustworthiness, and providing extensive opportunities for enhancements. The esgResilience service is continually being refined to meet user needs, and the introduction of new features will ensure that assessments of taxonomy alignment and the environmental sustainability of investments become more accurate.
The summary of the survey is available for everyone to read on the Property Management Association’s website, click the link to the document https://bit.ly/42zAp60
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