PlanRadar, a platform for digital documentation, communication, and reporting in construction, facility management, and real estate, has released an analysis on the impact of digital platforms on ESG due diligence. The main finding indicates that only one-third of construction industry professionals believe digital tools are useful for ESG certification management, yet customers of PlanRadar report significant gains when utilising digital tools, highlighting the opportunity still to be seized by the industry. (1,355 professionals from construction and real estate industries from 19 countries, August 2023)
To achieve environmental certification, companies must implement energy-efficient practices, reduce emissions, have an efficient use of natural resources, reduce waste production, and preserve natural habitats.
Recent data from PwC forecasts ESG investments to surge to US$33.9 trillion by 2026, with three in five institutional investors reporting superior performance from ESG-compliant investments compared to their non-ESG counterparts. For construction companies, this translates into a growing market for projects meeting ESG standards, unlocking significant scope for sustainable growth.
Digital platforms like PlanRadar simplify the path to compliance with documentation, communication, and reporting that seamlessly integrates ESG practices into construction, real
estate and facility management operations. Key features include:
ESG Data Collection: Detailed logging of each build stage with geo-tagged photographic evidence for ESG and technical due diligence.
Automated Reporting: Converting data into comprehensive reports for audits, supplier management, client communication, and documentation.
Waste and Rework Reduction: Efficient documentation and tracking to minimise rework, saving time and resources.
Risk Reduction: Quick assessment of risks and costs, facilitating informed decision-making for sustainable and energy-efficient practices.
Safety and Quality Control: Implementation of inspections, QR codes, and NFC tags to enhance job site safety and quality, appealing to investors.
Commenting on the findings and why choosing the right tool for the job is so important, Ibrahim Imam, CEO & Co-Founder at PlanRadar adds, “Contrary to industry perceptions, digital platforms offer substantial benefits in achieving ESG compliance, as this analysis shows. The path to compliance does not have to be complex. '.