GridPoint, TimberRock Partner for Carbon Emissions Management

Two companies—GridPoint, which is in building energy management and optimization technology and TimberRock, a software firm providing energy solutions to reduce emissions—announced a new emissions management system. The companies claim it would help “commercial businesses looking to comply with climate-related emission disclosure guidelines and drive emissions reductions.”

There’s been growing interest in ESG on the part of CRE investors, according to a Colliers report from late last year. “Environmental, Social and Governance (ESG) considerations, particularly environmental ones, are prominent on the investor agenda, with three quarters of investors integrating environmental factors into their strategies,” the report said. In the Americas, only 14% of investors have no ESG focus, while 57% have some focus and 29%, strong focus.

The SEC has indicated its interest in requiring ESG reporting from public companies, including greenhouse gas emissions; how the company governs and manages climate-related risks; actual or likely material impacts on business, strategy, and outlook; financial statement metrics; and information about climate-related goals and any transition plans. That would require reporting on buildings and facilities. As a result, the rules could eventually hit CRE hard.

“Combining TimberRock’s insights alongside GridPoint’s platform significantly enhances the data available to businesses as they transition toward net zero emissions,” the companies’ release quoted Mark Danzenbaker, GridPoint CEO, as saying. “The integration will equip businesses with visibility into their carbon footprint, controls to help adjust emissions in real time and reporting capabilities to adhere to oncoming environmental impact regulations.”

TimberRock says that its E-IQ platform “provides accurate and auditable greenhouse gas and carbon reduction metrics, including Scope 1, 2 and 3 emissions, that are ready for third-party validation to support customer sustainability reporting.”

GridPoint claims that its platform is deployed in more than 16,000 commercial buildings. Using data analytics, machine learning, and automation provide information on building operations and can reduce energy costs and maximize decarbonization.

“Beyond Accounting, the combination of TimberRock and GridPoint’s data, unlocks new pathways for CO2e reduction,” the two companies say. Software and hardware integration let companies adjust building performance “to a variety of factors like energy cost savings, utility signals like demand response and now, carbon emissions.” By controlling energy-intensive equipment and distributed energy resources, building operators can reduce electricity demand and, therefore, emissions. The system records and documents reductions for audit or third-party verification.