Arbitrage Real Estate was engaged in Greater London Authority Business Energy Challenge (BEC) 2015 later last month, an initiative of the Mayor of London that puts forward the energy efficiency agenda to London’s commercial real estate users. The initiative was firstly launched in 2013 and has been evolving ever since. The initiative is inviting annually businesses operating within the Greater London Authority (GLA) and occupying commercial spaces of a total Gross Internal Area (GIA) of more than 500m² to showcase progress in CO² emissions reduction.
Arbitrage RE provided resources to Green Value Associates and Rodin Consulting (project contractors) who were part of GLA Business Energy Challenge (BEC) team and coordinated the initiative and related tasks. The committed resources were responsible for business recruitment through targeted communication of the initiative’s objectives, provided reporting support and quality assurance. Furthermore, our resources were responsible for data collection and analysis, which was achieved via a co-developed property and energy data aggregation tool.
In cooperation with the project contractors and the members of the GLA Development, Enterprise and Environment directorate, our resources’ contribution to BEC resulted in the recruitment of more than 100 leading business with presence in London. The participating businesses submitted property and energy use related data for c.1,600 property locations. The assessed data revealed that their overall carbon emissions reduction during 2010 - 2014 by the 50 BEC award winners was above 80,000 tones. Overall, the benchmarking analysis of the collected data provided an understanding of how occupiers’ decisions in their business space requirements affect resource efficiency, carbon emissions reduction and effectively climate change mitigation. In addition, the benchmarking analysis revealed best practice examples and showcased ways to improve the energy profile of corporate occupied spaces.
For more information on Business Energy Challenge, please click here.