New energy management and benchmarking platform answers industry's need to simplify and scale ESG reporting strategies portfolio-wide
DENVER, March 29, 2022 /PRNewswire/ -- Touchstone IQ, the first full-service energy management solutions provider, has launched Touchstone IQ for Buildings, a web-based energy intelligence platform that combines a dedicated team of professional engineers and certified energy managers with an intuitive analytics platform driving forward CRE owners' climate action goals.
Overlay Consulting and Touchstone Benchmarking merged and are now Touchstone IQ, the only energy management company with a software solution and on-staff energy consultants working with enterprise clients, governments, building owners and utility companies on all sides of the energy equation.
Earlier this year, the Biden administration announced the Building Performance Standards Coalition, which forwards climate change regulations, building upon the existing 40+ city and state governments with energy benchmarking ordinances in place. The Coalition is a first-of-its-kind partnership among states and local governments dedicated to delivering cleaner, healthier and more affordable buildings.
Touchstone IQ for Buildings' integrated approach tackles the complex challenges related to increased regulations that continue to evolve from state to state and impact the CRE industry.
"We've reached a tipping point, and what was once a nice-to-have is now a necessity," said Jonathan Dierking, Touchstone IQ founder and CEO. "Increasing consumer and shareholder demand and government regulations are influencing CRE companies that need to remain competitive in the marketplace. Approaching energy management from all angles addresses the modern challenges and needs of building owners."
Previously, the commercial real estate industry relied on outdated tools to report required building energy efficiency data without the ability to interpret, analyze and improve outcomes. As ESG is becoming ingrained in CRE owners' policies and operations, companies are in need of a scalable energy management solution that is simple for employees, in multiple departments, to operate and interpret across the portfolio.
Touchstone IQ for Buildings is scalable for corporate building owners, management companies operating in several states or larger REIT portfolios. The platform enables compliance for benchmarking and building performance standards, provides insights to track energy usage to identify potential savings across portfolios, and manages energy projects to support identified energy and sustainability goals as part of overall ESG protocols and reporting.
According to Nareit's 2021 REIT Industry ESG Report, "In recent years, ESG has earned a position as a board-level priority across the REIT industry, with 85% of REITs reporting ESG performance to their boards of directors at least annually, and 42% doing so quarterly."
"For years, our team of long-standing energy efficiency engineers and sustainability professionals worked with governments, utility companies and enterprise clients to design and implement benchmarking, energy management and incentive programs," said Dierking. "We've helped clients, their customers and partners understand and use the existing tools that were available. It is this knowledge and, quite honestly, frustration that led to the creation of Touchstone IQ products."
About Touchstone IQ
Backed by the merger of the software-powered intelligence of Touchstone Benchmarking and the human-powered energy expertise of Overlay Consulting, Touchstone IQ is the collaboration of long-standing energy efficiency engineers and sustainability professionals. Trusted by more cities and states than any other benchmarking platform, Touchstone IQ serves 14 governments with 20,000 buildings tracked to date. The Touchstone IQ platform eases the pain points associated with managing and complying with benchmarking and building performance ordinances and allows clients to analyze and improve upon energy management goals supporting ESG reporting. For more information, visit www.touchstoneiq.com.