Industrial products, solutions and technologies company Honeywell announced the launch of Carbon & Energy Management, a new software and artificial intelligence-based solution aimed at enabling building owners and operators to track and optimize the energy performance of their portfolios and assets against their carbon reduction goals.

The new product forms the cornerstone of Honeywell’s new Sustainable Buildings solutions portfolio, designed to help building owners and operators to meet the often conflicting objectives of reducing environmental impact while optimizing indoor air quality.

Buildings are a key source of global greenhouse gas (GHG) emissions, and also one of the hardest to replace, given their long-term nature. According to the World Green Building Council, buildings are responsible for as much as 38% of energy-related carbon emissions globally, with a significant proportion derived from energy used to heat, cool and power the buildings.

In order to meet climate goals, significant investments are anticipated to address the impact of buildings. According to Honeywell, the new tool will help customers avoid capital outlays to implement solutions and meet sustainability reporting demands.

The new Carbon & Energy Management solution autonomously identifies and implements energy conservation measures utilizing artificial intelligence and machine learning algorithms, while continuously investigating analyzing an optimizing building performance down to the asset specific level, and measuring sustainability KPIs including carbon emissions. The solution will also provide an energy performance baseline to determine which assets are driving energy consumption, and a real-time dashboard to track sustainability KPIs.

The launch of Honeywell’s Sustainable Building solutions follows a recent announcement from the company that it is dedicating roughly 60% of its new products R&D to ESG-oriented solutions aimed at addressing global sustainability challenges.

Manish Sharma, Vice President and General Manager of Sustainable Buildings at Honeywell, said:

“The buildings industry has long worked to improve energy efficiency and reduce carbon impact, but it is imperative to make meaningful change in the near term – and that means building owners need better data about their operations. Given the increased awareness of and investment in sustainability, it’s critical for a company to know – and to clearly communicate to stakeholders – how its facilities are optimizing energy baselines to reduce their carbon impact.”