AI is now being used to drive sustainability in the property sector, as shown through a recent initiative by Growthpoint Properties.
The property solutions provider has saved 475 hours per month in municipal invoice processing by using robotic process automation (RPA). With the addition of powerful text extraction algorithms, the automation system is also able to extract and structure sustainability data embedded within the documents.
With a South African portfolio of about 350 buildings, Growthpoint processes more than 1,100 municipal invoices each month, which requires an estimated 160 hours of manual handling – and associated challenges with extracting and applying critical data related to utility consumption, such as power and water use information.
Engelbert Binedell, chief operating officer at Growthpoint Properties, said, “By accurately capturing detailed utility data, we are now better equipped to meet our sustainability targets and optimise resource management across our properties.”
He explained, to ESG Global, that the sustainability data being extracted is specifically related to water and electricity consumption “which is necessary to measure our water and energy intensity per square metre on a monthly basis”.
Growthpoint currently uses a variety of internationally accepted benchmarks to measure its sustainability impact, including SDGs, GRESB, CDP, and other benchmarks where they are relevant.
From a South African perspective, Engelbert believes that sector-specific ESG goals should be a non-negotiable.
“In the recent past, there has been a lot of emphasis placed on clean and reliable energy. Now, the focus in specific geographies is on water security, which could have a severe impact on the built environment and society. Zero waste to landfill should also be a priority as it enhances sustainability and has the power to create employment in the informal sector,” he pointed out.