GOING GREEN

Sustainable initiatives in FM for a greener future

- Dr. Hassam Chaudhry

Sustainability has become increasingly central to the strategies and responsibilities of many organisations. Facility Management (FM) plays a crucial role in steering sustainable initiatives that not only optimise operations but also contribute to environmental conservation and societal well-being. There is a prominent role of FM in implementing sustainable practices across operational, tactical, and strategic management tiers. Nonetheless, the FM profession encounters escalating pressures and obstacles as the objectives of sustainability initiatives evolve. To navigate these shifts effectively, there’s a necessity to continuously acquire fresh knowledge, tools, and competencies, enabling the profession to adeptly address emerging challenges. As per a study conducted by Mordor Intelligence, the projected facility management market size stands at approximately USD 53.73 billion in 2024 and is anticipated to surge to USD 74.59 billion by 2029. This growth is predicted to manifest at a CAGR of 6.78 per cent within the forecast period of 2024 to 2029. The escalating demand for Facility Management (FM) services is primarily attributed to a multitude of private and public endeavours, encompassing construction, infrastructure development, energy initiatives, and similar projects. These undertakings are significantly fueling the need for comprehensive FM services to ensure efficient and effective management of facilities across various sectors.