The International Financial Reporting Standards (IFRS) recently took over the responsibilities of the Task Force on Climate-related Financial Disclosures (TCFD), a transition that we highlighted in a previous post. This significant change signals a new era in global compliance and is particularly pertinent to businesses in the energy and utility sectors.
As a Data-as-a-Service (DaaS) provider, EP&T Global stands at the heart of these changes. Our unique selling proposition goes beyond just software –providing accurate, auditable, and actionable data to optimise commercial properties and assets. We collate and analyse data from third-party metering and monitoring solutions and in-situ Building Management Systems (BMS) to help our clients in their pursuit of energy efficiency, ESG standards, NetZero targets, compliance with regulations such as NABERS, and Measurement and Verification (M&V) activities.
With the shift in responsibilities from the TCFD to the IFRS, many businesses must adhere to a diverse range of climate-related disclosures and reporting requirements that vary from one country to another. This is where our EDGE Intelligent System comes into play for companies operating in multiple countries.
As a single, global platform, the EDGE Intelligent System collects data from meters, sensors and BMS systems, streamlining it into our cloud-based analytics platform. This unique approach ensures that global companies comply with in-country requirements, meeting various climate-related disclosures and reporting standards. With the constant flow of data, our technical services team can maintain optimisation 24/7/365, managing and keeping trillions of dollars’ worth of assets across multiple countries.
Data is central to this operation. The accuracy of the data collected plays a critical role in reporting standards. Our system time-stamps data upon collection and uses standardised data tags in the analytics framework. This process ensures accuracy, creating auditable data that instils confidence in reporting standards and drives compliance.
Global countries are increasingly making climate-related disclosures and reporting mandatory, a fact underscored in a recent report from Carbon Cloud. Adapting to these changes is no small feat. But for EP&T Global and our clients, the transition is smooth. Our technical services teams work closely with landlords, building owners, and operators, as well as maintenance, facilities management, and BMS teams, reviewing insights from the platform to ensure peak performance.
Integrating our services goes beyond carbon reduction, and ESG focus; it's also about accurate tenant metering and billing and optimising the BMS. This all-around service has helped us manage and maintain assets globally, saving tens of thousands of tonnes of CO2e.
Transitioning responsibilities from the TCFD to the IFRS is a significant milestone towards a more sustainable future. While it does bring challenges, it also presents immense opportunities. With the right partner and tools, businesses in the energy and utilities sector can navigate this transition effectively and efficiently, optimising their operations and driving growth in a greener, more sustainable future.
With EP&T Global and our EDGE Intelligent System, the journey towards a sustainable future is made simple and efficient, no matter how complex the global compliance landscape may be. This sets us apart and ensures our clients are meeting their regulatory requirements, optimising their performance, and achieving their sustainability goals.
For more information, please contact the team here
