The rising importance of ESG in the coworking industry

February 2, 2023

In recent years, the concept of ESG (environmental, social, and governance) has become increasingly important in all industries, including the coworking industry. With increased focus on sustainable and responsible business practices by both businesses and consumers, coworking companies are incorporating ESG principles into their operations and strategies. By doing so, they are not only differentiating themselves in a crowded market, but also attracting socially responsible customers and contributing to a better future for both their business and the planet.

Energy efficiency

One of the key components of ESG in the coworking industry is energy efficiency. To reduce their carbon footprint, it’s crucial for coworking companies to focus on energy conservation as coworking spaces can consume a substantial amount of energy. By analysing data, coworking companies can gain insights and make adjustments accordingly.

Here are some examples of how coworking companies are implementing energy-efficient measures to reduce their carbon footprint:
Energy consumption for coworkings
The energy consumption of coworking office is higher than that of private office and open office. The annual total building energy consumption reaches 212,842 kWh, of which the air conditioning energy consumption was 62,586 kWh, accounting for 29% of the total energy consumption. the lighting energy consumption was 45,136 kWh, accounting for 21% of the total energy consumption; the office devices energy consumption was 105,120 kWh, accounting for 49% of energy consumption.

Social responsibility

In addition to environmental considerations, ESG also includes a focus on social responsibility. This includes promoting diversity and inclusion in the workplace, offering wellness programs, and implementing ethical governance practices. Examples of coworking companies promoting diversity, inclusion, and practicing ethical governance are:

Governance consideration

Finally, ESG in the coworking industry also involves governance considerations. This includes implementing strong ethical policies, transparent business practices, and responsible management of resources. By doing so, coworking companies can demonstrate their commitment to responsible business practices and earn the trust of their customers. Lead by example:
In conclusion, ESG is becoming increasingly important in the coworking industry as businesses and consumers alike place a greater emphasis on sustainable and responsible business practices. By integrating ESG principles into their operations and strategies, coworking companies can differentiate themselves in a crowded market, attract socially responsible customers, and contribute to a better future for both their business and the planet. A company that improves its ESG performance will also tend to have a reduced compliance burden, see higher levels of employee satisfaction and find talent more easily.Do you want to learn how zapfloor can help with measuring and understanding Environmental, Social and Governance (ESG) performance? Book some time in the calendar of our representatives.
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