Legal & General Investment Management has appointed Norwegian tech startup Carrot to deliver a digital waste management system across its UK real estate portfolio.
Carrot provides specialist software which gives building owners data that can be used to manage and reduce waste workflows. It gives precise details on the type and quantity of waste tenants are producing, even in buildings with more than one occupier.
Occupiers will manually sort rubbish between general waste and various recycling categories and it is then weighed and registered through the Carrot app. This data is used for sustainability reporting, cost distribution and analysis.
The data can also be used to gamify waste collection. In Bergen, three coffee shops within the same shopping centre currently compete to supply coffee grounds to a local mushroom grower who uses Carrot data to see when they are ready for collection and at their freshest for soil enrichment.
Facility managers can also use the Carrot system to register the waste they pick up as part of their cleaning services.
For building managers, the system is designed to offer an overview of waste levels and sorting performance across all buildings and tenants, along with improvement suggestions. For tenants, the app offers direct and instant data for sustainability reporting and waste reduction measures.
Next year, the UK is introducing Sustainability Disclosure Requirements, under which the FCA will create guidelines requiring UK-listed companies to report sustainability-related information.
LGIM head of asset services real estate Mark Tyson said: “Real estate owners and operators must build stronger relationships with their occupiers to educate and drive action. The way buildings are used plays a pivotal role in net zero and therefore greater collaboration is fundamental to effect change.”
Carrot founder and chief executive Tore Totland said: “In a world where sustainability is becoming increasingly critical, waste management has often lagged behind, remaining ‘out of sight and out of mind’.
“Working with Legal & General, one of the UK’s largest and most forward-thinking asset managers, is a powerful step toward changing that mindset.
“By integrating Carrot’s waste data solutions across their extensive property investment portfolio, we are not only helping to reduce carbon footprints but also empowering businesses to see waste as a valuable resource rather than a problem to be discarded.”
Photo © Monkey Business/REX/Shutterstock
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