Data driven real estate economy and the role of the Smart Readiness Indicator in sustainable buildings

The property sector is faced with numerous regulations, some of which are based on the European Green Deal. At the same time, the data economy is not stopping at the property industry, leading to the adaptation and reorientation of processes and methods. However, this disruptive environment is also creating new opportunities, like for example assessing the 'smart readiness” of buildings. The digital economy is a key enabler of smart-ready buildings, driving energy efficiency, cost savings and sustainability. As smart technologies evolve, buildings will play an increasingly active role in energy optimisation, carbon reduction and the transition to a greener economy. The Smart Readiness Indicator (SRI) assesses a building's potential to contribute to energy efficiency in building operations, while providing a healthy and comfortable indoor environment, as well as potential grid flexibility. This paper explains the SRI, a simplified approach to determine the indicator in a cost-effective manner, and how it can be used to meet requirements in sustainable finance, ESG reporting, and green building certification. It is based on work carried out in the EU-funded easySRI project. The paper is intended for the following Themes: Theme G: Sustainable Real Estate Theme H: New Technology and Data in Real Estate