Fast-moving digital property company BidX1 is changing the way property is bought and sold, making the process more transparent, efficient and convenient for users.
The firm has developed an innovative digital platform, tailored specifically for real estate transactions, and has sold over 10,000 properties to date, raising more than €2bn.
This rapidly expanding company, which is transforming the property landscape through technology has also taken a forward-thinking approach to climate action and sustainability. BidX1 embarked on the Enterprise Ireland GreenStart programme to help them develop a GHG Emissions and Carbon Strategy – with the goal of ensuring that environmental principles are embedded in their business model.
The company, which is headquartered in Dublin and has operations in the UK, Spain, South Africa and Cyprus, was founded on an inherently sustainable ethos. “We knew we were doing well from a sustainability perspective, but we didn’t have precise metrics to work with because we have been in such a high-growth phase for the past few years.”
“We’ve now established a Carbon strategy and have calculated our emissions across every market, identifying hotspots and key areas for improvement” explains Nicole Pomeroy, Head of Communications.
While 2020 and the global pandemic was a watershed for traditional real estate agents, it was not a significant transition for BidX1 who pioneered a fully digital model in 2015.
“We have developed a digital platform which connects users across the globe with property investment opportunities in 5 markets – and enables them to complete the entire transaction online. We wanted to match that level of innovation and ambition in our environmental policies, putting climate action at the forefront of our decisions as we expand existing operations and also enter new markets”, she explained.
Passion for sustainability
Recommending the Enterprise Ireland GreenStart process she said: “All that is needed to start the process is somebody who is passionate and committed – and who is willing to bring that passion throughout the company” referring to her colleague Eanna Glynn who is part of the finance team and the Head of Sustainability at BidX1.
Eanna is passionate about sustainability and environmental issues and has led the charge within BidX1 with the full support of CEO Stephen McCarthy and the management team. “We looked specifically at greenhouse gas emissions for the GreenStart process. I wanted to aim for carbon neutrality and when I spoke to the management team, they encouraged me to figure out what that journey would look like for us. We kickstarted that with a carbon assessment. It did seem daunting at first but once we had connected with our advisors via GreenStart, who are experts in this field, the process became quite seamless,” he explained.
“We have set up a dedicated sustainability team within the company with a sustainability lead in each of our markets as we had to think globally. GreenStart with Enterprise Ireland was the starting point for that. We have been focussed internally so far but we will now be assessing more of our suppliers to encourage change externally too”.
They have been blown away by the enthusiasm within BidX1. “It has had a snowball effect – it’s not just us driving this – it’s everybody. We always thought we would be pushing a rock up a hill but for us the rock is already at the top of that hill! There is such support and enthusiasm internally – and while we have said that we can’t do everything all at once when it comes to sustainability – that enthusiasm is a good problem to have!”
The advice from BidX1 to other companies starting out on their green transformation journey is: “Don’t be afraid. Get started, with the right advice and assistance from Enterprise Ireland. Don’t think that because you are a professional services company or office-based firm that it’s not for you and it’s not relevant. It is. Until you start measuring and are clear on your own figures and targets, you cannot effect meaningful change. It’s not just manufacturing companies that have to race to achieve the 2050 goals – it’s everybody.”
To get your business ready for a green future visit Climate Enterprise Action Fund or contact the Climate Action Team