Corporate World
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

In recent years, thousands of companies have voluntarily pledged to meet sustainability targets, but many of them likely lack the knowledge and the tools to properly measure progress and  optimize their carbon and energy footprints.[i] Honeywell (Nasdaq: HON) is working to help solve this problem with its new Carbon & Energy Management, a carbon energy management software, that enables building owners to track and optimize energy performance against carbon reduction goals, down to a device or asset level.

Carbon & Energy Management is the centerpiece of Honeywell’s new Sustainable Buildings solutions portfolio, which is ready now to help building owners and operators meet two pressing, yet often conflicting, objectives: reducing the environmental impact of buildings while optimizing indoor air quality to support occupant well-being, with the aim of helping them to meet carbon neutral goals.

Companies face increasing pressure today – from stakeholders as well as regulatory agencies – to curb energy consumption, reduce carbon emissions and create more sustainable, healthier facilities. There’s an urgent reason for this: commercial buildings currently account for almost a third of global energy consumption[ii] and 37% of global energy-related CO2 emissions.[iii] While 28% of those emissions are related to building operations[iv] – or the energy used to heat, cool and power the building – many building owners likely don’t have device or asset level insight into energy consumption or carbon impact.

Leveraging the Honeywell Forge enterprise performance management software solution’s artificial intelligence (AI) and machine learning (ML) algorithms, Carbon & Energy Management autonomously identifies and implements energy conservation measures to help drive efficiency, resiliency and accountability throughout a real estate portfolio. It continuously investigates, analyzes and optimizes building performance, down to an asset-specific level, measuring critical sustainability KPIs including carbon emissions.

“The buildings industry has long worked to improve energy efficiency and reduce carbon impact, but it is imperative to make meaningful change in the near term – and that means building owners need better data about their operations,” said Manish Sharma, vice president and general manager of Sustainable Buildings, Honeywell. “Given the increased awareness of and investment in sustainability, it’s critical for a company to know – and to clearly communicate to stakeholders – how its facilities are optimizing energy baselines to reduce their carbon impact. We’re helping customers create new metrics for success and removing the complexity of carbon management while balancing healthier spaces with our ready now solutions.”

“Regional governments are rapidly progressing on the path towards achieving carbon neutrality[1] and have laid out guidelines to improve energy consumption and building efficiency standards,” said Sultan Chatila, chief commercial officer, Honeywell Building Technologies, Middle East, Turkey and Africa. “In the UAE, where electricity consumption within commercial buildings stands at 36%,[2] the government has set a 2050 target of improving energy efficiency by close to 40% and cutting CO2 emissions by nearly 70%.[3] With such momentum to reduce carbon footprint, the commercial buildings sector is in urgent need of readily available technologies that can help lower energy-related emissions.”

‘Impact investors’ want to know in specific terms what companies’ carbon reduction goals are and what they’re doing to meet them.[v] According to recent market studies, reducing a building’s carbon footprint can potentially increase its commercial value.[vi]

Honeywell Carbon & Energy Management establishes an energy performance baseline using up to a three-year usage history, live meter data and environmental factors to determine which assets are driving energy consumption. The enterprise-level Carbon & Energy Management software provides a real-time dashboard of critical sustainability KPIs; aggregates carbon data from energy-related emission sources in a building – gas, electricity and fuel sources; reduces energy consumption using advanced building control capabilities; and reduces carbon footprint without compromising occupant well-being or comfort.

Carbon & Energy Management continuously collects energy use data 24/7, logged at 15-minute intervals from submeters connected to all energy-consuming assets to collect granular consumption information. This data allows Honeywell to help customers establish a rigorously derived baseline, provides a roadmap for carbon neutral, and helps customers to execute the roadmap to help meet their carbon neutral goals. The solution allows building owners to avoid capital outlays for technology upgrades to meet sustainability reporting demands and minimize the time required to implement solutions.

Honeywell’s advanced Sustainable Buildings portfolio can help meet energy efficiency goals, improve occupant well-being and change the way occupants experience a building. The portfolio aligns with Honeywell’s commitment to achieve carbon neutrality in its facilities and operations by 2035, building on a track record of sharply reducing its greenhouse gas footprint as well as its decades-long history of innovation to help customers meet their environment, social and governance goals.

[1] UAE announces Net Zero by 2050 strategic initiative Saudi Arabia commits to net zero emissions by 2060  
[2] KAPSARC, Economic and Environmental Benefits of Improving UAE Building Stock Energy Efficiency, K, Dubey, June 9, 2017
[3] The bad boys of energy consumption
[i] UC San Diego Extended Studies, “COP26 and what top companies are doing to lead the way,” Jennifer McEntee, April 22, 2022. [Accessed May 6, 2022]  
[ii] International Energy Agency, “Buildings: A source of enormous untapped efficiency potential.” [Accessed May 6, 2022]  
[iii] World Economic Forum, “Why building greener is crucial to meeting Paris climate targets,” Patrick Henry, November 1, 2021. [Accessed May 9, 2022]
[iv] World Green Building Council, “Bringing Embodied Carbon Upfront” [Accessed June 9, 2022]  
[v] Blackrock, “Larry Fink’s 2022 letter to CEOS: the power of capitalism,” Larry Fink. [Accessed May 6, 2022]
[vi] Financial Review, “Green buildings worth more to investors,” Martin Kelly, October 21, 2021. [Accessed May 6, 2022]

Source: Four Communications