IBM Acquires Aussie Analytics Firm Envizi to Accelerate Sustainability
A Brief Summary
IBM has recently announced the acquisition of Australian-based environmental performance data and analytics software provider Envizi. The purchase aims to help organizations accelerate their ESG goals, sustainable operations and supply chains. However, not much is known about the terms of transactions.
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Envizi's businesses, to a considerable degree, have ESG goals to keep an eye on when it comes to the progress on sustainability reporting requirements. The expertise that Envizi has will integrate with IBM's physical asset management and supply chain software after the acquisition.
These days business leaders are pushing for the adoption of ESG goals as regulators, lenders and asset managers are monitoring the companies with heavy carbon footprints.
ESG incentives range from more interest in a corporate checking account to lower interest rates for loans if specific targets are met, but opponents argue that firms aren't moving far enough to decrease emissions and that penalties for unmet goals aren't stiff enough.
In an interview, Kareem Yusuf, general manager of IBM AI applications, noted that the demand for a proven framework for tracking emissions will only grow in the future. "To respond to regulatory pressure or stay up with peers," he added, "everyone is going to require these platforms." "Everyone is trying to figure out what's going on."