Global professional services firm EY and tech giant IBM announced the launch of an expanded collaboration, aimed at providing ESG solutions to help companies accelerate, manage and report on sustainability-related business transformations and initiatives.
With plans to provide offerings orchestrated with leading technologies and across diverse hybrid IT landscapes, anticipated solutions under the collaboration include Scope 3 greenhouse gas (GHG) emissions accounting and management, ESG Managed Services, and EY’s “SEAM” tool for scope 1, 2 and 3 carbon capture, analysis and decision support.
Steve Varley, EY Global Vice Chair – Sustainability, said: “In order for organizations to address an ever-evolving set of ESG challenges, solutions must be delivered and deployable at a faster pace than ever before. The value of this deepened and longstanding alliance is in how it leverages the consulting and technology capabilities of both EY and IBM teams, to be at the forefront of how clients plan and accelerate their ESG journey and build trust with their most critical stakeholders.”
The collaboration comes as both EY and IBM work to build out their own sustainability and climate focused capabilities and solutions for clients. In a statement announcing the alliance, the companies said that are both “working to address the enormous complexities of ESG data by bringing deep understanding of emerging data standards.”
As part of a series recently announced sustainability goals by EY, the company pledged to invest in services and solutions that help its clients profitably decarbonize their businesses and provide solutions to other sustainability challenges and opportunities. EY’s (CCaSS) practice helps businesses understand and manage the risks and opportunities arising from climate change and other sustainability issues.
IBM has launched solutions including its AI-driven Environmental Intelligence Suite, aimed at enabling companies to predict, monitor and report on environmental and climate-related risks facing their businesses, and manage their own climate initiatives, and last year the company acquired environmental performance data and analytics software provider Envizi.
According to the companies, the collaboration will leverage EY’s CCaSS practices, as well as IBM’s Envizi and Environmental Intelligence suites and other offerings, to help companies operationalize decarbonization action plans at the asset level.
Kareem Yusuf, Ph.D., Senior Vice President, Product Management & Growth, IBM Software, said: “A global energy crisis, rising costs and new regulations are among the ongoing and increasing challenges organizations face as they act to deliver upon their sustainability goals while still balancing revenue, risk and driving shareholder returns. IBM’s expanded collaboration with EY is a critical step forward in helping our joint clients accelerate their most pressing sustainability and business objectives.”