Data-powered sustainability engagement: W. P. Carey case update

Sustainability engagement is a key challenge for building operations, especially when you’re not directly in charge. That's the challenge W. P. Carey, a top industrial REIT, faced. Today, W. P. Carey is making significant progress towards sustainability, thanks to our innovative data collection methods and effective tenant engagement strategies.

Shared goals, collaborative approach

W. P. Carey identified the following key sustainability engagement goals for their European portfolio:

• Boost tenant engagement: Encourage active participation in sustainability initiatives across their properties.
• Strengthen data collection: Gather comprehensive energy data to make informed decisions for improving energy efficiency.
• Ensure regulatory compliance: Achieve accurate reporting and meet environmental regulations.

Here’s how hello energy strategically addressed these goals:

• Secure tenant data platform: This platform facilitates tenant participation in sustainability efforts while respecting their privacy concerns.
• Diverse metre connection methods: hello energy employs a variety of methods to connect to metres across W. P. Carey's diverse portfolio, ensuring seamless data retrieval regardless of property type. Over 70% of data connections are established through direct metre links, while 25% come through integrations with existing Building Management Systems (BMS) or Energy Management Systems (EMS). For the remaining 5% of properties with non-smart metres, hello energy utilises data loggers to ensure comprehensive data coverage.

Impressive results

The collaboration between W. P. Carey and hello energy has yielded impressive results:

• Soaring tenant engagement: A significant portion of W. P. Carey's portfolio boasts tenant authorisation for data collection, with expectations for further growth by year-end. This achievement highlights the effectiveness of hello energy's secure data authorisation platform.
• Enhanced data collection: W. P. Carey is well on track to achieve significant data coverage by year-end, thanks to hello energy's diverse metre connectivity strategies.
• Streamlined regulatory compliance: The streamlined data collection process facilitated by hello energy ensures meticulous reporting, guaranteeing W. P. Carey remains fully compliant with environmental regulations.

Building tomorrow, today

W. P. Carey's sustainability efforts gain momentum with continued support from hello energy's expertise. Together, they're using data to make buildings more energy-efficient, leading to cost savings and a strong position in environmentally friendly practices within the REIT sector. These advancements contribute to a broader industry shift, making sustainability the standard, not just a goal.

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