PlanRadar, a leading platform for digital documentation, communication, and reporting in construction, facility management, and real estate, has released an insightful analysis of the impact of digital platforms on ESG (Environmental, Social, and Governance) due diligence. The key findings also reveal that only one-third of construction professionals see digital tools as useful for ESG certification management. However, PlanRadar customers report significant benefits, highlighting a missed opportunity for the industry.
To achieve environmental certification, companies must implement energy-efficient practices, reduce emissions, use natural resources efficiently, minimize waste, and preserve natural habitats. PlanRadar’s surveys also reveal a perception gap in the use of digital tools for environmental compliance:
- Only 60% of industry professionals recognize the reduction in paper use due to digital tools. Among PlanRadar customers, this recognition rises to 90%.
- Only 34% of industry professionals believe IT solutions help reduce material waste. In contrast, 60% of PlanRadar customers report significant benefits in minimizing rework and conserving resources through digital platforms.
Recent data from PwC forecasts ESG investments to reach $33.9 trillion by 2026, with three out of five institutional investors reporting better performance from ESG-compliant investments. For construction companies, this means a growing market for projects that meet ESG standards, offering substantial potential for sustainable growth.
Digital platforms like PlanRadar simplify compliance by integrating 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 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 minimize rework, saving time and resources.
- Risk Reduction: Quick assessment of risks and costs, aiding informed decision-making for sustainable practices.
- Safety and Quality Control: Implementing inspections, QR codes, and NFC tags to enhance job site safety and quality.
Ibrahim Imam, CEO & Co-Founder of PlanRadar, states, “Digital platforms offer substantial benefits for ESG compliance. Our user-friendly platform additionally allows teams to log and record every stage of the build, demonstrating meticulous adherence to ESG and technical due diligence. The opportunity for construction companies is clear: align practices with ESG criteria to gain a competitive edge.” PlanRadar’s whitepaper also offers valuable insights on ESG due diligence as a step toward compliance.
