EY and IBM Collaborate for Value-Led Sustainability

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by KnowESG,

IBM Corporation

Image courtesy of https://www.ibm.com/

EY and IBM have announced a global collaboration with a focus on developing environmental, social, and governance (ESG) solutions. These solutions aim to support organisations in achieving sustainable business transformation while creating value.

The teams at EY and IBM will work together to create innovative offerings that integrate sustainability with business strategy. Their goal is to facilitate the operationaliation of sustainable programmes at a fast pace and on a large scale while transforming how businesses, stakeholders, employees, and the planet create value.

EY's teams possess significant experience in advising organisations on sustainability strategies and transformation, while IBM offers innovative technology capabilities and a software portfolio to measure, deliver, and report sustainability goals. As industry leaders, both companies are collaborating to tackle the considerable complexities of ESG data by leveraging their understanding of emerging data standards.

The teams at EY and IBM are preparing to offer solutions that incorporate cutting-edge technologies such as hyperscaler public cloud and ERP systems-of-record. These collaborative offerings will cater to a wide range of client preferences across hybrid IT landscapes and will include:

  • Accounting and management of Scope 3 greenhouse gas emissions

  • Managed services for ESG

  • EY Sustainable Enterprise Asset Management (SEAM) tool, which enables carbon capture, analysis, and decision support for Scope 1, 2, and 3 emissions.

The collaboration is set to harness EY's renowned Climate Change and Sustainability Services and Technology Consulting practices, as well as IBM's software portfolio, which includes the IBM Envizi ESG Suite, IBM Environmental Intelligence Suite, IBM Maximo Application Suite, IBM TRIRIGA Application Suite, IBM Turbonomic Application Resource Management (ARM), and IBM Supply Chain Intelligence Suite. Together, these resources will enable the creation of frameworks and accelerators to help companies operationalise decarbonisation action plans at the asset level.

EY and IBM teams are collaborating on various fronts to drive value-led sustainability, which includes leveraging EY SEAM tool with IBM's Maximo Application Suite. This integration will enable organisations to capture and calculate carbon emissions data, report it in compliance with regulations and set targets to drive action. The tool can be used on any public cloud to support companies in asset-heavy sectors such as telecom, energy, mobility, manufacturing, and civil infrastructure.

Additionally, EY Sustainable Travel Approval Tool (STAT), developed in collaboration with IBM Consulting, encourages employees to book more sustainable travel options and supports an organisation's carbon ambition by providing users with greater visibility of the financial and carbon footprint impact of business travel.

Since the launch of the tool within the EY organisation across 41 markets, it has significantly reduced one-day travel from 18% to 3% of total trips and increased train rail bookings to 36%, compared to 10% in FY19, in countries where train rail is a viable option.

Steve Varley, EY Global Vice Chair - Sustainability, says:

“For organisations 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.”

Kareem Yusuf, PhD, Senior Vice President, Product Management & Growth, IBM Software, says:

“A global energy crisis, rising costs and new regulations are among the ongoing and increasing challenges organisations 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.”

The partnership between EY and IBM continues with this latest collaboration on ESG solutions. This builds on their existing work together, including the Talent Center of Excellence and the EY-IBM Center of Excellence for Financial Services. Readers can find more information about the EY-IBM Alliance here.

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Source: IBM