Randy Moss, manager at Yardi, sat down for a video interview at Nareit’s REITworks: 2024 Sustainability & Social Responsibility Conference, held in McClean, Virginia from Sept. 10-12.
Moss discussed the current landscape of commercial real estate regarding energy management and sustainability reporting. He identified a primary challenge: accessing energy data, particularly in tenant-controlled spaces. Despite ongoing efforts over the past five years to collect this data, difficulties persist.
Yardi has achieved recognition as an ENERGY STAR Partner of the Year for six consecutive years, emphasizing that success hinges on two main areas: accurately reporting property information using ENERGY STAR and fostering a collaborative partnership with the program.
Looking ahead, Moss noted the complexities in sustainability reporting due to varying standards across regions, including European, U.S. SEC rules, and IFRS. He believes that while alignment on reporting standards remains elusive, the consistency of underlying data can provide a solid foundation for compliance. Moss emphasized the importance of managing this data efficiently and consolidating it into a single system to streamline reporting processes.