Submetering and resident bill back for utilities can help achieve Environmental, Social, and Governance (ESG) goals in a number of ways:
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Environmental Impact: Submetering allows building owners and managers to accurately measure and track energy consumption at the individual unit level, allowing them to identify areas where energy usage can be reduced. By providing residents with information about their consumption and encouraging them to reduce their usage, building owners can help reduce their overall environmental impact.
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Social Impact: Submetering can help building owners and managers promote social responsibility by encouraging residents to be more mindful of their energy consumption and the impact it has on the environment. Additionally, by giving residents the opportunity to control and manage their own energy usage, submetering can help promote a sense of empowerment and self-responsibility.
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Governance Impact: Submetering can help building owners and managers demonstrate their commitment to transparency and accountability by providing accurate and detailed information on energy consumption. This can help building owners and managers to demonstrate their commitment to ESG principles and improve their reputation among stakeholders.
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Cost Savings: Submetering can help building owners and managers to save money on energy costs by identifying areas of inefficiency and encouraging residents to reduce their consumption. This can help building owners and managers to achieve cost savings which can be re-invested in further energy efficiency measures, or other projects that align with the ESG goals.
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Compliance: Submetering can also help building owners and managers to comply with local, state and federal regulations related to energy consumption and reporting, which can be a part of the ESG goals.
By providing accurate and detailed information on energy consumption, submetering can help building owners and managers to identify areas where they can reduce their environmental impact, promote social responsibility, and demonstrate their commitment to transparency and accountability.
[Revised: 01/23/2023] - Zachary D
