Purpose of the project
In 2014, Triovest identified an opportunity to improve understanding of property- and portfolio-level environmental and sustainability performance. Triovest partnered with Refined Risk to co-develop and implement the system’s environmental and sustainability modules, which provide the Triovest team with valuable real-time dashboards and key reports to make informed and consistent business decisions
Refined Risk is an integrated management and reporting system that consolidates portfolio information to reduce risk and create healthy, resilient buildings and workplaces. Triovest uses Refined Risk to manage environmental compliance and measure portfolio-wide energy, greenhouse gas emissions, water and waste performance. The system supports building-level target setting, action planning, progress measurement, and analysis to fulfill corporate and client expectations and meet legislative compliance. Its dashboards and reports allow Triovest’s managers to easily query data by client, region, building type and/or address, and export data in a variety of formats to support further details analysis and scenarios building.
Triovest’s subject matter experts and Refined Risk software developers teamed to create a unique questionnaire builder that allows users to produce and self-manage an unlimited and highly flexible range of questionnaires. This functionality enables creative thinking, and improves Triovest’s ability to adapt to new standards and priorities. For example, Triovest used this feature to build a sustainability questionnaire that identifies green building certification potential (LEED EB:OM, BOMA BESt) and simultaneously supports Global Real Estate Sustainability Benchmark (GRESB) survey performance. In testing the system’s scoring outputs versus recent green building certification achievements, Triovest re-created comparable results for much less time and cost.
“The long-term goal is to engage building management, operation teams, and tenants to implement sustainable practices and achieve continuous improvement,” says Refined Risk’s COO, Hugh Molyneux.
The software delivers new levels of performance management and accountability.
“We worked with Refined Risk to ensure that the system was attractive and user friendly. Our focus was to ensure that we had a system that provides real-time user feedback so improvement or compliance measures could be implemented immediately at the building level” says Kyle Nicholls, Triovest’s Director of Environmental Health and Safety. “Our practical, data-driven approach will ensure that continuous improvement efforts are realized and that success can be measured.”
“If we are to achieve energy performance improvements, or, by extension, sustainability at the broadest scale, we can’t ignore people,” says Philippe Bernier, Triovest’s Director of Sustainability. “People need to see a clear vision and purpose, understand how their role and actions influence the organization, and be able to use data-driven systems that reinforce desired behaviour. We are beginning to achieve this through Refined Risk and are excited for the path ahead.”
What began as an idea is now a fully functional system that can be used by any real estate manager to identify and mitigate environmental and sustainability risk and drive positive change. Refined Risk system outputs will also feed Triovest’s Sustainability Scorecard, which will measure performance across key indicators and communicate performance and targets.
Nicholls says, “Our collaboration with Refined Risk has been extremely positive: a client-developer success story. The final result is that Triovest now has a “world-class” system that will help our team to make solid real estate management and investment decisions.”
Through the Refined Risk system, we are able to translate our policies into actions that are practical, achievable, repeatable, and measurable, across property types and geographies.
- Philippe Bernier