Unlocking the Path to a Sustainable Future: A Strategic Asset Management Approach

Okay. Welcome everyone. Thank you so much for taking time out of your day to join us on the webinar. We really do value the opportunity to share our insights with you. So whether you're joining us live on the webinar or watching the recording, thank you so much for your time. So my name's Dave Horstman. I'm the senior manager for our professional services team here in Australia for Brightly. And I'll be joined today by an amazing panel of presenters that'll take us through some practical, tips and tricks around how you can really unlock that path to a sustainable future. So before I begin though, I'd just like to acknowledge the traditional custodians of the lands on which we meet today and pay my respects to Elders past, present and emerging. And I'd also like to acknowledge us and celebrate our First Nations people around the world and encourage us all to continually learn from their history and teachings in caring for country. Finally, I'd like to acknowledge and pay my respects to any First Nations people joining us in today's webinar. So just a little bit of housekeeping before we kick off, we really do love your questions and comments. The engagement part of it is the most important and the most valuable aspect from our perspective, so please do use the q and a function that you see on your screen, and feel free to drop any questions or comments into that q and a function at any time throughout the session. We have allowed quite a reasonable amount of time at the end because we really want that discussion to happen. So by all means, the more questions that you can and comments that you can drop in there throughout the course of the session allows us to dive straight into that Q and A at the end. Also, if you wanted to know more about the presenters that we have on the panel today, you should see an icon on the screen that'll allow you to read a little bit more, basically access those presenters' bios, so feel free to do that as well. And at the end of the day, we want this to be the most valuable session that it can be for you, but we acknowledge that at the end of the day, there may be things that you wanna talk about in more detail. There may be topics that perhaps we didn't get to dive into as much detail as you wanted to. By all means use the icon on your screen to reach out to us to make contact or request a discussion with one of the team members. So all of those icons will be available to you throughout the session. And so I mentioned our wonderful panel that's joining us today, so Lauren, Rebecca, Shine and Renuka, they'll be sharing with us their key insights that they've drawn from their own diverse and extensive experience across the asset management industry and more broadly. And in particular today, we really want to focus on insights that enable you to move forward with your sustainability goals right here, right now. So a lot of what we'll be talking you through while leveraging, you know, emerging technologies and modern capabilities, the reality is a lot of the principles and practices that you're probably already very familiar with from an asset management perspective, we really want to focus on how you can use those in your everyday operations right here, right now, and how you can work towards those sustainability goals. But before we do that, we also wanted to briefly touch on this whole concept of, well, what are we talking about though when we talk about a sustainable future? And we all know that, you know, we have really important imperatives at the moment around decarbonizing, meeting net zero strategies, mitigating the very real threat of human induced climate change. These are all really pressing matters for us as a global community, and that's often initially where a conversation around sustainability may start or where it may be focused. But we did want to point out upfront that in reality, sustainability for us as a global community is much broader than that, even though we'll have those pressing commitments, those things that are absolute priorities at any point in time, the reality is across the globe there are a range of factors that go into creating sustainable thriving communities, and perhaps the most simplest way of thinking about that would be to always make reference to those sustainable development goals produced by the UN. And so you can see those on your screen, and I'm sure in reality if you think about what the asset management industry and what you as professionals have to offer on a day by day basis, you can genuinely be change makers across many of these sustainable development goals, whether that's directly influencing an outcome or indirectly, almost all of those things that you see in front of you, if not all, we each have a contribution to make both individually and as a professional community. So we really encourage that thinking about sustainability as these broader sustainable sustainability goals. And the other thing that I just wanted to briefly touch on to set the scene is when we're talking about these insights, when we're focusing on aspects that you can really engage in to remove any roadblocks or to really turbocharge your movement along that sustainability pathway, you can come at that from a number of different lenses, you can look at it from a number of different angles, but because our primary focus today is on the asset management industry and on connected communities, we thought the most simplest way of organising asset management journey in Brightly, and that is moving through the three key levels of foundation, into insights, and to smart. And if you look at the elements that are covered there and the brief narrative at the bottom, you'll see that it's really all about building a solid foundation in terms of your asset register, in terms of digitalising your operations, in terms of then using that capability to derive insights and to improve your maintenance and operations, and then ultimately continuing along that journey to target very specific solutions more easy. So whether that's through automation, sensors, you know, whatever that might be, we all know that technology moves at a very fast pace, but that should never stop us from moving forward with what we have right here right now. So what you'll see in terms of the key topics that we cover with the panel today is that we're really kind of going through it in that type of flow, really focusing on foundational elements I'd like to do right now is hand off to our very first panel presenter, which will be Lauren. So over to you, Lauren. Thanks for that, Davis, and thanks to everyone for joining this afternoon. My name is Lauren. I am currently a consultant with Bytely. You'll see from my bio that, most of my experience is actually in health infrastructure, but I also have a chunk of experience at New Zealand Treasury kind of order auditing the ability for government agencies, to deliver on investments and evaluating the asset management maturity. Just wanted to add that to kind of color my experience. And big disclaimer, this is my first official webinar, so please be nice to me. The topic today is starting with what you have. And, I've tried to keep this under the five minute mark, but I am a yapper, so we'll see if I manage to meet that deadline. For me, that means, as a first point of call, understanding what you have in place already. And to me, the easiest way to do that is actually just by completing a maturity assessment. And so what that does is provide a framework for evaluating yourselves as an agency across a number of industry standard and agreed elements. And it also will provide a measurable way of tracking your progress and ideally the output, kind of results in a structured work program. Again, it's industry standard. It's It's a really easy way to measure yourself. This can be done either via self assessment, or it can be completed by a a consultant. Obviously, I'm a bit biased. I'm a consultant, but I would recommend, based on my experience, getting an objective, consultant or, you know, other person outside the organization and to actually complete that maturity assessment for you. Just because you I find you need an objective lens. I've had to audit quite a number of self assessments, and they tend to be quite optimistic in the level that you're at in your maturity journey. That's not necessarily a bad thing. It's just that, generally, if you've been in the same organization for quite a long time, it's harder to have that objective lens. Whereas if you bring someone in, from outside your organization, you know, we get exposed to quite a broad number of agencies and organizations, and we tend to be able to kind of benchmark you perhaps a little bit more accurately, and also provide, recommendations based off our knowledge, completing it for other clients as well. Either way, really good start. Would recommend the self assessment anyway. You can kinda find them online. And again, you essentially get a score. You score yourself against, a number of agreed metrics, and there's also a target. And so not only do you get an understanding of your current gaps, you can also then kind of start creating that structured work program by setting yourself a realistic maturity target. I tend to target between two years to five years to set yourself really easy wins. Some of those easy wins as a result of this assessment tend to be things like, do we have an asset policy? What is that policy position? Policy is one of the easiest ways to document your organization's commitment through asset management and those sustainability goals, and you demonstrate that from a an executive standpoint. And so that's agreeing to commit to things like non asset solutions as a first point of call instead of going and building, things like commitment to reduce emissions, things like committing to recycling practices and diverting from landfill. What this policy will essentially do as well is provide you leverage to then fund the programs and activities you need as an organization to then deliver against that policy, which is great because funding is really hard to get. If you've got a policy statement and your execs have agreed to it, then you've gotta deliver against it. Second point of call, do you have an asset strategy? What are the goals? Can we update that to include more sustainability metrics or, you know, commitment to programs or activities? As part of that, you know, the maturity assessment will kind of identify what assets do we own, what is the quality and completeness of the data that we currently have. You know, that can help you then identify further easy wins, like, if this is health care, how many coal and diesel generators do we have? How new are they? Can we replace that with electric? What is the impact of that on the electrical grids? The Victoria University of Wellington, recently replaced four and a half thousand older style light bulbs with longer lasting LEDs. That's resulted in about a hundred thousand dollars of savings per year just in labor costs. And so you can start identifying really easy wins by evaluating what you currently have within your organization and then starting to address those in a really structured way as part of a work program. And just to add on to that, that should also be brought into the rest of the organization at all levels, strategic, tactical, operational. So it's baking in commitment to sustainability in your procurement processes, setting expectations on your partners and your service providers, including that in your position descriptions when you're hiring asset managers and facilities coordinators. But at the end of the day, you know, what's measured matters. And so when you're going your discovery journey, I think it's really important to create a measurable way to track your progress, as you're going in that journey. And on that point, what's measured matters, I'll pass over to Becky for measuring and monitoring carbon impact. Thanks, guys. Thanks very much, Lauren. Yep. So as Lauren said, my name is Becky. And over the years, as a consultant with Brightly, I've helped many of our clients with the digitalization of their asset management operations. So when you start to digitalize your asset management operations, you will begin to see the immediate impact your efforts are having on your carbon emissions. The obvious one being the reduction in paper records and, of course, the physical storage required to house those records. But when you take, that a step further and move to a geospatial environment for the planning and allocation of your ground activities, you will begin to see the efficiency and effectiveness of using a digital environment. So when you can spatially view your ongoing and planned works as well as well as the locations of your potential downtime of your network. You will be able to use tools to assist you with work scheduling and route optimization to help you ensure that you are working as efficiently as possible. So where can you start with the digitalization? What options do you have right now? So the first thing to do, as Lauren said, is to realize what you currently have available to you in terms of data and tools. And from here, you can analyze your gaps and create a plan of action. For many of you, you already have your asset registers digitally recorded, be that in an asset management system, a GIS environment, or in a spreadsheet. If you have your data stored across multiple environments, then you may wish to bring, begin a consolidation process to start to store your data in a single source of truth. Now this may seem like an obvious step, but it's one that many struggle with, and we all need to walk before we can run. So from here, the next step is to start digitizing and potentially automating your operations processes. So this includes allocation, and recording of maintenance in a digital environment. And for every one of our clients listening here today, you already have the tools available to you to achieve this. And once you start to utilize the tools available to you and record your operations and activities digitally, you will start to see patterns in your data. So when combining this with collecting supporting information, such as condition scores and grades, you were able to begin to start working predictably. So one of the main advantages of predictive working, versus preventative maintenance is that maintenance is only performed on assets when it is necessary. So this decreases the chance of unnecessary maintenance and, as a result, also reduces the use of spare parts and supplies, time spent on each piece of equipment, and, of course, production hours lost due to planned downtime. So when you have the data, capital planning is better informed about asset health and condition. Replacement schedules can be adjusted when assets last longer due to correct and timely maintenance. So to support you in all of this, there are so many new tools available to you to help you monitor not only the condition of your assets, but also to monitor the energy consumption and emissions from your operations. You've all heard about sensors and how they can help you monitor the live conditions of your assets, but how many of you are actually using them effectively? You can set your sensors up to not only display the current condition data, but also to automate certain repair processes by issuing a maintenance request to the appropriate team and instigating a quick response. So, again, this will reduce downtime and reduce the need for constant monitoring of sensor data. Everything becomes automated and repeatable. The data collected over time will help to build an accurate picture of how your assets are performing on your network. There are also new tools available to you to help you measure your carbon output. So once you've gathered data from these tools, similar to the adoption of predictive maintenance, you can use the data to see patterns in your energy usage and highlight areas where efficiency savings can be made. The data from all of these sensors and all these measurement tools can be pushed into your asset management system, helping you view and analyze the data in one place. Eventually, you'll get to a point where you can select the best treatment or repair based not only on cost, but also on carbon savings. So my last point on my little screenshot there is about establishing enhanced reporting and data analysis. I've listed this last, but reporting and understanding your current data and your current state is, like Lauren said, a great start. Once you realize where you may have gaps, you can work on filling these, and then you can adapt and enhance your reporting as you mature your datasets. Analyzing your data for the carbon impact and monitoring for improvement, for that continuous improvement cycle that, again, Lauren just introduced to us. One thing to remember is that this is a marathon and not a sprint. There are many steps you can take to start this journey, but you need to be mindful of the end goal and work proactively towards it. There's nothing stopping you from starting today, but make sure every step you take is considered and measured. And talking about the measurement, of processes, I'm now gonna hand over to Sian, who's going to take you through the measuring and monitoring of the carbon impact. Sian? Hi there. I'm Sian. I'm chartered civil and highways engineer over twenty years of experience in transport construction, PPP, and long term operation and maintenance contract over six countries. Because I'm an engineer and at school, we were taught that engineers, play a crucial role, to meet the sustainability and, with the minimal use of, resources, natural resources, and paying always respect to environment and nature. So this is really important. As a result, I'll just reflect on my experience and when measuring and, monitoring the carbon impact. And, also, with my background, I confirm that carbon measurement in especially in open space, like road, asset management, is a real challenge, unlike confined space or buildings where emissions are measured and metered. As a result, you get the outcome. But before that, I just wanna talk about the three scopes that you might heard, this from, every conversation and every debates and every conferences you go to. So in simple terms, we talk about the, three scope carbon emission. Scope one is direct emission, what you burn, and which is that's why the focus is mainly on the vehicle electrification. The second one is, scope two, which is indirect emission, which is energy you buy, in terms of energy used by infrastructure. And the third one is scope three, which is, again, indirect emissions. And this is everything beyond, so which makes it very difficult to measure when we talk about everything beyond. That means the supply chain emission of the materials. And when you put that into infrastructure asset management, I'm talking about cement. I'm talking about bitumen. I'm talking about steel, which makes it very hard because the concept there is in scope three, you're talking about cradle to gate. So where you start and where you stop. So this is this is really important. But, the point I'm trying to make there is it is not an easy task. It's really difficult. But, we really need to start rather than focusing and getting precise numbers. We really need to look at the methodology, and we really need to look at the measurement standards, worldwide. Because if you have different type of measurements, if you have different type of standards across different countries, across different, areas, which will make it very hard to get consistent consistent result. So, also, we need to keep in mind, as Becky said, it's not a marathon. It's a marathon. It's not a sprint, but I would really reiterate that it's a journey for everyone. It's all new. There is no right or wrong answer. We really need to be on the journey, and, we really need to be open about the, dialogues and the communication rather than criticizing each others on what is done and what is not done. I think it's really a a world issue that we really need to take that as a professional, person to say, how do we tackle this problem altogether? That should be the mindset. So if we just break it down, why measure is if you don't measure, you can improve. As simple as that. So by measuring, the carbon impact, you will meet the sustainability goals. And on the token, also, you are all aware, I'm sure, that climate, change act twenty twenty two, and you need to be we, I would say, we need to be compliant. And as a result, it's really important that to demonstrate that as an organization, you can be in design office, you can be in construction or consultant. You really need to demonstrate that we are meeting the legal requirements for our clients and for ourselves and for future, and we need to take sustainability seriously. So what methods are available? Yes. There are multiple methods, several ways available for the carbon impact. For example, carbon accounting standards gives us a consistent framework to track emissions, And Australia also has its own accounting frameworks through Australian accounting standard boards, which is aligning with the global standards. But the point there is the standards are generally driven by the financial information. So operational inputs are really important. That's why we need to get the guys on the ground to, improve, challenge the sectorial plans or the ways of working and support the policy makers to get meaningful outcomes. So this first report was published by, the board, which is, SR one climate related finance information in October twenty twenty three. I'm suggesting that you guys can have a look and see what has been, what is the standard and what is required from the organization to get yourself familiarized. But alongside with that, as Becky mentioned that there are number of companies providing softwares and tools to assist the organization to go through the decarbonization. Siemens got their own softwares with a bit brightly in terms of strategic level decarbonization or tactical or operational level. So it's really important to understand the whole life cost elements of the measurement, and then you can make a decision when you're actually building things. The third one is how organization reduce the carbon impact. This is about reducing the impact starts with the small changes. And you may find this as a job, but I had a colleague back in the days in UK. He stopped flying, and his motto was, I will reduce my carbon footprint by not flying. And you may see it insane, but what I'm trying to say there is it starts with individuals, and then the corporate companies can put their, input in and then the government, and then we can have a a total impact. But we keep talking about electrification and renewable energy sources, and it comes with own, challenges. Because every time I join a conference, people are talking about the wind energy blades and the batteries and things. I think rather than going into really debatable arguments and challenging each other, we really need to find a way how we can make impact and what outcome are we going to propose. So that's the stuff we need to think about. Another point is low carbon technologies. It's been a long discussions in terms of how do we decarbonize and how do we look at different, sustainable materials in road construction or, in the sector, sustainable materials. But design is not allowing them as such because design standards are very conservative and risk adverse, and those needs to be a bit, open. But just to give you a cons one point there is because I was just reading today that first electrical concrete mix attract begins in trial in Melbourne. And what what that means is you require a high investment cost. But then when you look at the whole life cost and operational cost, that makes a difference. But the point there is production of cement creates two point three billion tons of carbon per year, which is six point two percent of the global carbon emission. When you look at the steel, it's two point six percent billion tons, which makes it seven percent. So when you're actually talking about materials, which is which has a heavy impact on the carbon emission, how much you save with electrification and what you can get, it's there will be always debate. And if we are stuck on the debate, I think we will not get anywhere, in achieving targets. So in terms of what, Australia how Australia is doing, government addressing decarbonization, you might all hear that Australia, along with all parties, they signed up for the Paris agreement, and the commitment is to keep or reduce the global average temperature well below two degrees. And then Australia is pushing for one point five percent. So and, also, I strongly recommend each one of you in your sector to look at the sectorial, emission reduction plan. There are six sectorial emission plans published by the policy makers, and they are really looking for industry experts to have some input and put, that policies in a meaningful sense. So when the policy comes, people can add up and apply. So those are electricity and energy, transport, industry, agriculture and land, and resources, and the built environment. I really strongly suggest that you look at that and you, give your comments and feedback. And that's, detailed feedback of how we can decarbonize. And, also, there is Clean Energy Finance Corporation. They're actually supporting some of the infrastructure projects that are incentivization about the capital projects that part could be tapped into. And I know some of the construction companies are actually looking to get that funding through that mechanism And, also, getting the resources ready, green resources, green labor. I don't know if you heard the whole heard of it, but that's a topic that Australia is discussing at the moment. And the last point is what Brightly and Siemens is doing about it is, as I mentioned to you, Australia has a target to keep the energy level or temperature level to one point five degrees, and Siemens got a commitment one percent. And we got massive event called beyond one percent. You might some of you might have attended that event. So we are trying to lead the sector. And, because Siemens' positioning in terms of manufacturing and automation, we are playing a big part on scope two, especially, and scope one. And then also with Brightly being an asset management organization, we are with the soft with the way we work in terms of whole life cost analysis and in terms of maintenance management, as Lorraine and, Becky explained, we are actually putting a a three t approach solution, which is tactical, operational, and strategic to assist the organization to get the carbon measurement down by sustainable engineering. The last part is, in UK, we work with local government authorities and, Future Highways Group, and we developed the carbon analyzer software, which is activity based, tool that you can measure for carbon and has been trialed and released. And we would like to bring that software to Australia, and I'm quite keen to get the industry, people like yourself on board to go through the journey with us and trial that software in the business to see the impact. So thank you very much for listening, and I'll pass it to Renuka to go into the details of the parts. Thank you. Thank you, Shyne. As, Shyne mentioned, like we are all in a race to, for decarbonization and a lot of organizations here, like trying to achieve like the target of net zero, by two thousand and fifty. And we have and are currently working with, few organizations, on helping them to achieve net zero targets. And, for that, we are working with, Siemens in house teams and partners who specialize in energy efficiency measures that can provide advisory, and guidance on how to achieve these energy efficiency measures. So as you can see here, this is an example of one study we did. And in this case, like where I'd say it's net zero strategy modeling, so we are comparing alternative scenarios to the base case of business as usual. In this case, this, portfolio, like the asset portfolio, look at, two alternative scenarios. So one is actively create taking a high energy efficient pathways, and it's not fully eliminating, for example, all the, gas, use of gas, but include high efficient energy efficiency measures as alternative to the other scenario where it's considering fully electrification pathway and, including other high energy efficiency measures. So and then we can actually take carbon, costing into account. And it is a case of, like, giving the, organizations and the decision makers the, power to make decisions based on this data driven, like, full whole of its life cycle view that takes into total cost as well as that cost include the carbon costing as well. And we can also, do is we can also model, like, the solar panels. Like, it's not just taking into, oh, if we put up solar panels, in our building, it will keep, working in the and provide us, like, renewable energy for, this many years. It's looking at solar panels lose efficiency as they ages. So it's like, how can we actually get that efficiency to in a can we model them? And how do we actually, like, compensate for lose of efficiency by other means? What would be the cost involved if we are operating diesel generators to for, compensate that, loss in electricity by solar? So we can model those things, and we have modeled. And also with regards to, like, the other climate change impact of our assets, there are different ways to model. So we can have alternative, treatments using, fire resistant materials or include incorporating scenarios where we actually, have, the height upgrade to flow levels. If they are if the assets are in coastal zone that are subjected to, storm surges or proximity to flood base. So these are the and then, if the assets are in bushfire zones, so we can, look at, like the different insulation methods and different fire resistant materials, etcetera. But we like to take a holistic approach to, like, the sustainability, and it's not just, like, creating energy efficiency measures to achieve net zero, but we look at we want to look at from the perspective of minimizing resource consumption and take whole of life carbon into account where embodied energy content embodied carbon content and the energy or embodied carbon in when you are disposing the asset, taking to account in the whole life cycle costing. So, the most organizations would think of, if you want to achieve net zero, we look at the operational stage, carbon emissions, but actually when we look at the whole of life, you need to include all those embodied carbon, operational carbon, and disposal carbon into account as well. And we work, in the knowledge that, so in maximizing the, utilization of existing assets and then extending the existing asset useful life is much better. Oh, we should do that before we actually go and actually replace them with more energy efficiency, asset. So we work on that premise because it's like one yeah. There's a saying, like, the most efficient, like, the asset is that from carbon perspective is asset that didn't build, but we already have the asset base that's already built, so we should get the maximum, use of that. But when we also think about the social and environmental aspects of, sustainability and modeling them, so we can use, for example, upgrading all our, assets or facilities to make them more equitable and inclusive. So what are the upgrade measures cost? What would be the impact on the community? And, yeah. So now when we talk about sustainability, there's a big emphasis on sustainability of our built assets or hard assets. And but there's also there's increasingly awareness and big appetite for the sustainability of our ecological or natural assets because they provide a huge benefit to our community. So one question that often get asked is, oh, can we actually model the ecological assets or natural assets? And how would we do that? So it is still very much a gray area. But to tell us more about how we should treat our natural low ecological asset the same way, we treat the, built assets. So now I'd like to pass to David, and David will actually tell you more about ecological asset management in from a sustainability perspective. Over to you, David. Oh, thank you, Ranu. Appreciate that. And, folks, any of you that have met me before know that this is a passion project of mine personally, but also something that Brightly and Siemens value, quite extensively. Yeah? And and as Renu was saying, the really critical thing to focus on here is that while traditionally asset management grew around those hard infrastructure assets, that built environment, the reality is I think we've all come to realize that we actually have a vast network of amazing natural environments and ecological assets, yeah? And those assets, they're very diverse. There's an amazing breadth and depth. You can see on the screen in front of you at the moment just a snapshot from one project that we worked on of the breadth and depth of those assets. And even the fact that while they might be ecological or natural assets, there's often, or can be a built element to that as well, yeah? And they're no different to our other assets in that we need to be actively aware of what we have. We need to understand the breadth and depth of those ecological assets that are in our portfolio, and we need to understand in the same way that we may componentize a building or or a road segment, at the end of the day, we need to understand the elements that go into making up these these amazing assets. And in particular, having that awareness of what we have, having that awareness of what comprises them, and then taking them through those same principles and practices that we've traditionally applied to heart infrastructure, understanding the levels of service that we require from these assets. You can see, you know, also on the screen there where I've highlighted, the reality is these assets provide really significant environmental, economic, and social outcomes. They're really, really important. When we talk about a sustainable future and when we talk about thriving communities, our natural assets are a key part of that. We can't realise that goal unless we protect, look after, and adequately manage and maintain our ecological asset portfolio. And so to do that, it really is about mainstreaming them. It really is about not seeing them as somehow separate to or different to our normal asset management activities, but literally approach, approaching them as just another range of asset types in our portfolio and applying those same principles and practices that we would to everything else to these assets as well. And, you know, you can see on the screen there down in the bottom right, ultimately, that leads to really robust, evidence based asset management plans, literally having the same level of planning and the same level of focus that we do on these assets as we would for anything else. And so it's certainly not without its challenges. These are definitely assets that not all asset management practitioners or all engineering teams are intimately familiar with or maybe have a lot of experience, but we certainly know that across communities right across Australia and more globally now, even if it's through simple, you know, water sensitive urban design water quality requirements, we know that every local community has more and more of these ecological assets as part of their everyday environment and as part of ensuring that we provide that kind of sustainable community that we want. So the first, you know, to to to really wrap it up, what I would say is you need to get out there. You need to audit. You need to understand what it is that you hold, and then you need to go through those same processes that you would with any other asset. Start looking at setting assets, and then, in the same way that Renew was walking us through, how through, how we go about doing predictive life cycle analysis and running multiple simulations and making decisions around how to optimize our investment in our portfolio, those exact same processes can and should be applied to your ecological asset portfolio. And thankfully, look, I I'd like to give just a really quick shout out to one of our partners in this space as well. So we've worked very closely over the last few years with E2 Design Lab. They have an amazing team there that were already doing fantastic work in this space, but by partnering together really gave us that opportunity to grow from each other's experience. So in order to meet our sustainable goals, I'd like to flag that also as just a really important way of ensuring we meet our goals is through multidisciplinary collaboration. This is again another consideration. I'm sure that you all have at least some that warrant consideration and need to be managed, and some of you will have very extensive portfolios that you need to bring into the mix. So encourage you to do that and then work together with your professionals across those different disciplines to make sure that you mainstream these as part of your asset management capabilities. And folks, with that I'd just like to briefly summarise and bring us to our question and answer section, and upfront if you hadn't had a chance yet to drop a question in the Q and A box on your screen, by all means do that, We're still open to receive some more questions while we're going through those that we already have. But before I pass some of the questions to our other panel members, I just want to really briefly summarise what I would see as the key takeaways from today's session. And really first and foremost, it's recognising that sustainability is a very broad topic and some really important elements that you need to focus on, and while some of those may be priorities right here right now, we must never lose sight of all of those factors that go into providing a sustainable future. But where we do need to prioritize things like our decarbonisation, our energy emissions, our net zero targets, one of the most important things is to start right here, right now. As Lauren, you know, quite eloquently took us through, start with what you have. Invariably you've got some capability there that you can already tap into. And in our experience we often talk about that journey, that process being one of the most important things that you can do. It's only by starting with what you have, maximizing the value from that, and learning through that process what's important, that you really get those targeted improvements and you really create momentum behind your maturity journey. And I think we can all agree that we're well past the days of using, you know, paper and whiteboards or or storing stuff in our own heads. Yeah? So that digitalization of your information, you'll often hear, you know, the digital twin, analogy used. And quite simply, that's just the reality of creating a digital version of your asset portfolio and using that digital version to be able to simulate different versions of what the future might look like before you actually take those activities out into the real world and apply them on the ground. So and and Becky quite also touched on just the benefits from a productivity, from an efficiency perspective, and overall an insights perspective that you can gain from digitalizing your asset portfolios and your operations. And Shine touched on for us a very, very, you know, broad and ultimately challenging topic for us all into the future in terms of measuring and monitoring carbon. But the good news is, as she highlighted in that brief session, ultimately, there are a number of things that are already happening and that you can resources available to you to to guide that. And ultimately it's again through that collaboration that Shyne referred to, that we can together achieve those goals and together refine what that measure measuring and monitoring process looks like. And Renuka, the highlighting of that future focus, that ability to take everything that you collect now and convert that into simulations of the future so that you can make those decisions, we all know that we can do this right here, right now. So folding those sustainability goals and those sustainability parameters into what we already do is how you achieve that across your whole portfolio. Because it also means that you can make investment decisions and trade offs where sustainability targets and make sure that they don't just remain aspirations. And finally, you know that as I just talked through, when we're talking about assets, let's make sure that we always remember that's not just hard physical assets, that's not just our usual built environment, but it's our wonderful natural environment and our wonderful ecological assets that really create thriving sustainable communities. And so with that folks, I'll start with the Q and A, and I will just flag if for any reason we don't get to your question, we will absolutely follow-up outside of the session. So if for some reason we run out of time, then by all means we will still follow-up with any questions that you've raised. So, panel, I might just pass this question to any of you. So there's a question there about how you would go about building a business case to support proposing predictive maintenance. So if an organization wanted to convince their executive or their board or their counsel around we really need to target predictive maintenance, What quick tips would you suggest in terms of how to build out that business case? Becky, did you wanna kick us off? Oh, no. Lauren, you go. I was just gonna clarify, whether or not that's a business case for local government or more, I guess, government departments. From the lens of government departments, I've had to do quite a number of business cases. Fortunately or rather unfortunately, those have all been kind of health asset related, which kind of makes my job easier because of the criticality of the assets. And so a lot of the business case development, not only kind of focused on both demonstrating financial value, but I think it's a little bit actually easier in the public sector because you can really, focus in on not only just those cost savings, but really highlighting the risk of the do nothing option or low option or low funding options on your ability to directly, provide equitable services through the provision of assets. And so that's very easy to demonstrate with high criticality assets, assuming you have a criticality matrix. With health assets in particular, the higher the criticality of asset, if you're not maintaining them as part of a predictive maintenance schedule, people can die. That's directly a health outcome. And so creation of the business case really on the risk of not delivering those assets and not meeting your outcomes that you've outlined in your business strategy and in your policies, and then presenting, I guess, a number of options, generally tied to the proportion of critical assets that you are able to fund as part of that program, obviously, including, a lot of red graphs as part of the do nothing options. And then if you've got agreed levels of service, that's even better because you can directly, correlate the lack of maintenance of those assets into not meeting those levels of service, if that's helpful. Yeah. Thank you, Lauren. And David, I will just add something to Courtney's question because I work with local government and department for transport and for the PPP more mature organization. If you think about the maturity, I think Courtney, what you need to think about is pain point. You can't just come up to say okay we're going to propose something. The point is everything starts with the problem statement and the pain. So you really need to look at the organizational maturity because in my organization, I used to work in different companies. But when you try to come up with a advanced level because predictive maintenance requires maturity in business. And if you start talking about predictive maintenance, you really need to look at, is the business mature? They really need to understand where you're coming from. Because you start with the problem statement, you really need to look at the what's the problem? What is the benefit? What is the cost? What is the strategic importance doing this? And you also need to look at reactive versus proactive. Because in Australia, I realized everything is very operational, very reactive compared to the rest of the world because this is my country number six. I can easily say that. Strategy is less, but it's more operational and it's very reactive. So when you look at predictive and proactive, you really need to look at the reactive side of it, which is your unplanned downtime, which is your, maintenance cost, which is your, asset failures, which is the safety aspects that what is what is actually hurting people. When you actually present the data in a way that there is a need, then you can ask for the investment in terms of why do you need to go to the predictive maintenance. I think it's really important to put data facts, and, you can Google it. There is always a structure in terms of what you have to put in the business case, to get your executives to hear because you need to speak their language. But it always starts with what's the problem you're trying to solve and the data. And what I realized in this country, especially, and some of the countries I met is data is quite poor. When you don't have data, then you cannot provide what is costing you, what pain you got in terms of the reactive maintenance, that will hurt. I saw one contract. Just to give you an example, the team over three months fix same pothole six times. It's a junction. It's very reactive because nobody really, worried about, looking, measuring the impact of the society of the public. Because if we have the mindset, we go and fix it. There is an issue, we go and fix it. I think that's where you really need to start looking at your data from the maturity of your business. Thank you, Sean. Fantastic insights. And, actually, it's a nice segue into Renu, I might pass this question initially to you and then also see if any of the other panel want to chime in, but there's a question around in the modeling incorporating open space and bushland as natural assets and taking account of social benefits using a well-being framework. So perhaps you could briefly touch on, you know, how we can incorporate those types of elements into the modeling. Yes. So now we are coming up with, for example, like looking at this or how is there a way to from asset to asset, like, in a certain way quantify that benefit in in terms of, using some metrics? And it might be when I say quantify, it can be relative to each other because it's hard to actually quantify the actual benefits. And then we would have a, we would have a kind of a number of different scenarios running with that social benefit. So how much impact it would have or or, like, how much if we implement this methodology as opposed to the other. And all yeah. That way we can do. And also another way to look at it is actually, prioritize and look at or if you know, like, okay. This item would benefit more compared to another way we handle the assets. So we can go and actually prioritize that different way of, managing or or treating or replacing the assets. So I think, Yeah. Thank you, Renee. Yeah. Yeah. And and I think I'll just add add on the back of that briefly that the really important part of that as well is that reference to the framework. So absolutely, can you incorporate those types of natural assets in the modeling? For sure, one hundred percent. We already do that on a day by day basis. But the actual framework is the important part because when you refer to that well-being framework, then there are elements that you want to assess, from a performance perspective, you know. So we've moved well beyond that sort of concept of, you know, physical condition is everything. The reality is when it comes to making strategic investment decisions, whatever your key strategic drivers are and whatever those frameworks are that underpin that, so say for instance one of those may be that well-being framework, it's exactly as Renew just described, that ability to to take those parameters, introduce them meaningfully within the model, and then simulate different versions of the future that will show how different decisions will influence those outcomes against that framework. So that's a really, really excellent question, and thanks for talking us through that, Renu. Folks, just quickly before I wrap up, there's also a question around the applied outcomes from the ecological asset management side of things and how that helps decision making. And look, put simply, what we find is that when you mainstream, as I said earlier, mainstream ecological asset management and start talking about it and presenting it with the same powerful storytelling that we do for other parts of our portfolio, it really brings your custodians, your responsible officers, and then the executives and the board and sometimes treasury onto the same page in terms of being able to clearly articulate the values that these assets provide, the services that your ecological assets provide, and the consequent impacts of not investing in them the way that you need to and not actually understanding or being aware of those impacts upfront. So as soon as you can start doing that and you can start presenting your business case to the board or to treasury or to council, what it does is it actually puts it basically creates a level playing field between the traditional hard infrastructure and your ecological asset are all again for joining us. It was an absolute pleasure to be able to share these insights with you today. We definitely will be sharing a link to the recording, after this session as well, so anyone that couldn't join live will be able to get it. Plus, if you did join us for all or part of the session, you'll be able to catch it on repeat as well. And, look, do definitely keep an eye out for our future webinars. We hold these regularly. And at the moment, it's looking like our next session, which I'm very excited about, will actually be taking an even deeper dive into the whole net zero strategy modeling and the whole energy efficiency decarbonization topic specifically. So definitely keep an eye out for that. And to leave you with something on that thread, any of you that already had the opportunity to catch the lowest carbon asset is the one that you don't build. And so when we heard Shine talking about some of the carbon so when we heard Shine talking about some of the carbon impacts of our construction industry and of our operations and maintenance, I'm sure we can all agree that better asset utilization, better asset resilience, and optimizing the life cycles of what we already have, that's one of our single best pathways to decarbonizing our economy. So if you haven't had a chance to check that out yet, make sure you do. And otherwise, have a wonderful week. Thank you for your time. Look forward to seeing you on the next webinar. Take care, folks.