For owners of commercial real estate like Oxford Properties, energy usage is one of the largest costs. Having 100% visibility into their sites’ energy consumption and 100% usage of the solution by operational staff means more accountability and better decision-making related to energy. Ultimately, having an easy way to collect and manage energy consumption data allows the building operator to be socially responsible, reduce costs, lessen environmental impact—and pass savings on to their customers.
Darryl Neate, director of sustainability for Oxford Properties Group, recently authored an article for Canadian Property Management Magazine . It provides some insight into Oxford’s commitment to green buildings:
“A big part of Oxford’s sustainability strategy and that of an increasing number of our peers in Canada including Cadillac Fairview, Bentall Kennedy and GWL, has been the idea that the ‘greenest building is one that is already built’. This means recognizing the opportunities and returns that green renovations and retrofits can drive within existing buildings. The LEED program allows owners and operators to monitor existing real estate in order to maximize performance and get the most out of all building types.
Whether it’s new builds or retrofits, offices or mixed-use residential – the case for greener buildings is clear, and the tools to get there already exist. By incorporating comprehensive programs like LEED into your current and future business plans, you’ll be able to achieve the environmental, organizational and economic benefits that come with being a leader in the industry.
A 2014 Canada Green Building Council/McGraw Hill Construction report found that more than 40 per cent of building owners surveyed in Canada say that healthier building practices inherent in green buildings have or will lead to increased building value, the ability to lease space more quickly and increased rent for their properties.
On average, studies show that LEED certified projects show an overall net savings of approximately $294.31 per square meter over an estimated 33-year economic lifespan of a building. At Oxford, the team has driven considerable financial benefits across its portfolio as a result of its commitment to sustainability and LEED – more than $60 million in avoided energy costs since 2007.”
Energy management through submetering plays a key role in sustainable building operations. Submetering is a key component of LEED certified buildings and the value to property owners and developers is reflected in the credits available from metering in each of the LEED Rating Systems. Sustainable building operations can occur through the accountability that results from an energy management system that provides transparency of utility usage for building owners, property managers and tenants.