Read moreCollaborating across the information value chain with infrastructure digital twins
Collaboration With Infrastructure Digital Twins Across the Information Value Chain
Collaborating across the information value chain with infrastructure digital twins
Here’s Why Investors are Starting to Pay Attention to Infrastructure Digital Twins
By Steve Cockerell, Industry Marketing Director, Rail & Transit, Bentley Systems
Continuing from the previous post about Here’s Why Investors are Starting to Pay Attention to Infrastructure Digital Twins…
Collaborating across the information value chain
There is also a significant opportunity to use digital twins to help the investment community with key challenges such as capital allocation, risk screening and management, asset value enhancement through improved performance and reliability, and compliance with environmental, social, and governance (ESG) requirements.
ESG loans have become increasingly widespread, and new professions in the financial sector are being formed to focus on ESG-related investments. My colleague, Mark Coates, International Director of Public Policy and Advocacy at Bentley Systems recently published a white paper that looked at ‘The Power of Data for Long-Lasting Change’ (direct download of white paper available here) in which he highlighted that in February 2020, Great Portland Estates signed a GBP 450 million, ESG-linked, revolving credit facility with a group of five banks, as part of its plans to become net-zero by 2030.
The basics of the information value chain must be applied to harness this potential. The financial community can assist in using data insights to tackle their most pressing challenges by engaging with the entire sector to build realistic use cases. The infrastructure industry must contribute by approaching this debate with openness and flexibility. They must also understand that investors create returns on investment in several ways, through various asset types and at various phases of the infrastructure lifecycle. Some of their use cases will overlap with those established before for supply chain enterprises or operators, while others will not.
We must first improve the quality of dialogue between investors and other stakeholders in the infrastructure sector, reimagine the information value chain from an investor’s perspective, investigate how investors can expand their leadership role, and share some use cases that investors are currently pursuing. There are three critical phases to doing this: First the infrastructure industry needs to recognize the many different infrastructure investors and what this entails for the various ways in which they might profit from digital twins. Second, recognize how investors classify infrastructure. And third, connect digital twin use cases to various investing strategies.
More in the next post about Here’s Why Investors are Starting to Pay Attention to Infrastructure Digital Twins…
This article was republished with prior written permission from Bentley Systems.
(Source: Cockerell, Steve. “Here’s Why Investors Are Starting to Pay Attention to Infrastructure Digital Twins.” Bentley Blog, Bentley Systems, 6 Sept. 2022, https://blog.bentley.com/heres-why-investors-are-starting-to-pay-attention-to-infrastructure-digital-twins/.)
© 2023 Bentley Systems, Incorporated. All rights reserved.
Bentley Systems (NASDAQ: BSY) is the infrastructure engineering software company. We provide innovative software to advance the world’s infrastructure — sustaining both the global economy and environment. Our industry-leading software solutions are used by professionals and organizations of every size for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, mining, and industrial facilities. Our offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, Seequent’s leading geoprofessional software portfolio, and the iTwin platform for infrastructure digital twins. Bentley Systems employs more than 4,500 colleagues and generates annual revenues of approximately $1 billion in 186 countries.
ClimaTwin® is a leading climate risk intelligence solution for infrastructure assets and the built environment.
We empower infrastructure stakeholders to mitigate climate risks and assess adaptation actions across the total asset lifecycle. By connecting complex climate models and infrastructure digital twins, our solution enables engineers, owner-operators, and governments to aggregate, visualize, and analyze disparate datasets, revealing site-specific insights at a hyper-local scale. Benefits include 5-10x near-term returns and lifetime cost-avoidance by mitigating risks to systems, services, and societies.
To learn more about climate risk intelligence for your infrastructure assets, please visit www.climatwin.com today.
© 2023 ClimaTwin Corp. ClimaTwin® is a registered trademark of ClimaTwin Corp. ClimaTwin Basic™, ClimaTwin Enterprise™, the ClimaTwin logo, and Climate Risk Intelligence for Infrastructure Digital Twins™ are trademarks of ClimaTwin Corp. All rights reserved.
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The Rise of Digital Twins: Transforming Infrastructure to Create a Greener Future
Here’s Why Investors are Starting to Pay Attention to Infrastructure Digital Twins
By Steve Cockerell, Industry Marketing Director, Rail & Transit, Bentley Systems
Continuing from the previous post about Here’s Why Investors are Starting to Pay Attention to Infrastructure Digital Twins…
The Rise of Digital Twins
Over the last few years, there has been a surge of interest in the potential role of digital twins, particularly in how the technology is transforming how infrastructure is planned, developed, built, and operated. So much so that current digital techniques, including digital twins, are at the center of an emergent government-industry reform effort, and have been cited in major papers such as the Construction Playbook, the Transforming Infrastructure Performance Road Map to 2030, and the Gemini Papers.
Since the CDBB program’s inception in 2017, there has been a significant improvement in the quality of conversation among industry, academia, and the public sector. Discussions have resulted in a deeper understanding of the applications and benefits of infrastructure digital twins, as well as increased investment in the technology, but can the same be true of negotiations between the infrastructure business and the investors, insurers, banks, and other organizations that supply a large portion of their funding and finance?
After speaking with a diverse group of investors, the report concludes that the finance community can leverage the potential of digital twins for infrastructure to support investment decisions, and in doing so promote better outcomes from the infrastructure in which they are investing. Furthermore, by playing a larger role in the digital transformation of infrastructure, investors can help enterprises, people, and the environment, Alexandra Bolton stating that she believed “the finance community has a huge opportunity to use their influence not only to create these lower risk, higher profit investments, but to create a greener, fairer, safer future.”
More in the next post about Here’s Why Investors are Starting to Pay Attention to Infrastructure Digital Twins…
This article was republished with prior written permission from Bentley Systems.
(Source: Cockerell, Steve. “Here’s Why Investors Are Starting to Pay Attention to Infrastructure Digital Twins.” Bentley Blog, Bentley Systems, 6 Sept. 2022, https://blog.bentley.com/heres-why-investors-are-starting-to-pay-attention-to-infrastructure-digital-twins/.)
© 2023 Bentley Systems, Incorporated. All rights reserved.
Bentley Systems (NASDAQ: BSY) is the infrastructure engineering software company. We provide innovative software to advance the world’s infrastructure — sustaining both the global economy and environment. Our industry-leading software solutions are used by professionals and organizations of every size for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, mining, and industrial facilities. Our offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, Seequent’s leading geoprofessional software portfolio, and the iTwin platform for infrastructure digital twins. Bentley Systems employs more than 4,500 colleagues and generates annual revenues of approximately $1 billion in 186 countries.
ClimaTwin® is a leading climate risk intelligence solution for infrastructure assets and the built environment.
We empower infrastructure stakeholders to mitigate climate risks and assess adaptation actions across the total asset lifecycle. By connecting complex climate models and infrastructure digital twins, our solution enables engineers, owner-operators, and governments to aggregate, visualize, and analyze disparate datasets, revealing site-specific insights at a hyper-local scale. Benefits include 5-10x near-term returns and lifetime cost-avoidance by mitigating risks to systems, services, and societies.
To learn more about climate risk intelligence for your infrastructure assets, please visit www.climatwin.com today.
© 2023 ClimaTwin Corp. ClimaTwin® is a registered trademark of ClimaTwin Corp. ClimaTwin Basic™, ClimaTwin Enterprise™, the ClimaTwin logo, and Climate Risk Intelligence for Infrastructure Digital Twins™ are trademarks of ClimaTwin Corp. All rights reserved.
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Read moreHow to leverage infrastructure digital twins to support key investment decisions
Cross River Rail Mega-Project in Australia Catalyzes City-level Digital Twins
Here’s Why Investors are Starting to Pay Attention to Infrastructure Digital Twins
By Steve Cockerell, Industry Marketing Director, Rail & Transit, Bentley Systems
Continuing from the previous post about Here’s Why Investors are Starting to Pay Attention to Infrastructure Digital Twins…
Another example of a publicly funded mega-project that can serve as a catalyst for a city-level digital twin, is Cross River Rail in Brisbane, Australia. The Cross River Rail project is a 10.2-kilometer section of rail that includes 5.9 kilometers of a tunnel under the Brisbane River, 6 new stations – 4 underground and 2 on the surface, plus upgrades to 6 existing stations, all aimed at making public transport more attractive and removing existing bottlenecks in Brisbane’s public transport.
The AUD $5.4 billion project, which started construction in 2019 and is due to be operational by 2025, is already unlocking future investment in residential and commercial properties and was a key component of the City of Brisbane’s successful bid to host the 2032 Summer Olympics, given its alignment with the International Olympic Committee’s criteria for having the games blend in with, and be catalytic to, the growth of host cities versus a one-off two-week event.
Multi-environment digital twins that continually communicate with one another are at the heart of the project ‘digital network approach’, and its benefits extend beyond digital engineering to provide a better understanding of the interconnected nature of proposed assets with associated infrastructure within and beyond station environs. Andrew Curthoys, digital delivery manager at Cross River Rail comments “they (digital twins) allow us to plan for the life of the project, cast forward to what it will be like, with the advantage of a full digital representation that can be used for additional tasks including the ongoing operations and maintenance.”
Cross River Rail’s CEO Graeme Newton expects that in comparison to the benefits digital twins provide, the cost of creating and maintaining them is insignificant and that investment in digital twin technology will just become the norm. Newton believes future owner-operators will ask “What have been the (data) inputs into all of these things? How are you maintaining the standard you said you would? How do we know that safety is paramount? The digital twin means it is forever captured and forever represented and is forever traceable.”
The problems being handled by digital twins in Singapore and Brisbane are comparable to those that are affecting or will soon impact the UK, but the technology has additional applications. For example, the Grenfell Tower catastrophe has refocused government and regulators on the safety of higher-risk structures, while national and international banks must explain the effect of their investments against economic, social, and environmental (ESG) criteria.
The banking community, as important investors, has a significant chance to reap the benefits of digital twins by employing them to provide value, follow sustainability objectives, attract new investments, and better manage risk.
More in the next post about Here’s Why Investors are Starting to Pay Attention to Infrastructure Digital Twins…
This article was republished with prior written permission from Bentley Systems.
(Source: Cockerell, Steve. “Here’s Why Investors Are Starting to Pay Attention to Infrastructure Digital Twins.” Bentley Blog, Bentley Systems, 6 Sept. 2022, https://blog.bentley.com/heres-why-investors-are-starting-to-pay-attention-to-infrastructure-digital-twins/.)
(Image Source: Adapted from the European Train Control System (ETCS), Cross River Rail Delivery Authority)
© 2023 Bentley Systems, Incorporated. All rights reserved.
Bentley Systems (NASDAQ: BSY) is the infrastructure engineering software company. We provide innovative software to advance the world’s infrastructure — sustaining both the global economy and environment. Our industry-leading software solutions are used by professionals and organizations of every size for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, mining, and industrial facilities. Our offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, Seequent’s leading geoprofessional software portfolio, and the iTwin platform for infrastructure digital twins. Bentley Systems employs more than 4,500 colleagues and generates annual revenues of approximately $1 billion in 186 countries.
ClimaTwin® is a leading climate risk intelligence solution for infrastructure assets and the built environment.
We empower infrastructure stakeholders to mitigate climate risks and assess adaptation actions across the total asset lifecycle. By connecting complex climate models and infrastructure digital twins, our solution enables engineers, owner-operators, and governments to aggregate, visualize, and analyze disparate datasets, revealing site-specific insights at a hyper-local scale. Benefits include 5-10x near-term returns and lifetime cost-avoidance by mitigating risks to systems, services, and societies.
To learn more about climate risk intelligence for your infrastructure assets, please visit www.climatwin.com today.
© 2023 ClimaTwin Corp. ClimaTwin® is a registered trademark of ClimaTwin Corp. ClimaTwin Basic™, ClimaTwin Enterprise™, the ClimaTwin logo, and Climate Risk Intelligence for Infrastructure Digital Twins™ are trademarks of ClimaTwin Corp. All rights reserved.
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