Holistic tool IBOS measures ESG performance of buildings
The ESG movement is rapidly changing the way we look at buildings when assessing their value. Besides rental income and location, what other aspects should we be paying attention to?
RICS is taking the lead in this by offering the Building Operations Standard (IBOS), a self-assessment tool that supports companies and organisations in consistently measuring the operational performance of their buildings.
IBOS looks at performance in five aspects: conformity, functionality, economy, sustainability and performance capability. This free tool helps bring these five pillars to life, and standards such as WELL, BREEAM, Fitwel, Leed and WiredScore/SmartScore provide practical approaches for each pillar.
IBOS, revolves around five key pillars: compliance | economics | functionality | sustainability | performance. By assessing against these pillars, buildings can be measured in a consistent way. On which pillar does your building perform best? What can you do to improve the status of your weakest pillar?
IBOS goes beyond traditional ways of assessing building performance to provide professionals with a range of data. The assessment results can be used to make decisions on ESG and sustainability, building optimisation and user experience.
The framework can be integrated into your own system or you can use the RICS IBOS self-assessment tool.
'Compliant' means that a building complies with relevant legislation, best practices and guidelines for the built environment and translates IBOS into the following scores:
- Underdeveloped - No systematic monitoring or measurement of the indicator.
- Developing - Systematic monitoring and measurement of the indicator against a benchmark or target.
- Good - Systematic monitoring and measurement of the indicator against a benchmark or target and regular reporting to management/comparable on performance and how to improve it.
- Advanced - Systematic and automated monitoring and measurement of the indicator against a benchmark or target and regular reporting to management/comparable on performance and how it can be improved and technology is used to automate data capture and analysis.
Click here for IBOS self-assessment tool
Blue Module's ESG software, based on leading standards (see above), supports IBOS' approach.
