EY & IBM’s New Tool to Accelerate ESG Reporting
EY and IBM are collaborating to progress ESG solutions to help organisations accelerate business transformation with value-led sustainability. The partnership’s innovative offerings integrate sustainability into wider company strategy, supporting value development for stakeholders as well as the planet.
“It is crystal clear that sustainability challenges are also business challenges," explains Kareem Yusuf, Ph.D., Senior Vice President, Product Management & Growth, IBM Software.
"Companies that want to thrive in today’s competitive landscape need a deep understanding of their waste, energy costs, environmental risks and supply chains. Our partnership lets organisations rely on IBM software and EY experts to deliver transparent, trusted ESG reporting, so that they can focus on building value for their shareholders, board members and employees.”
IBM’s technology capabilities partner perfectly with EY’s consultancy specialism in sustainability transformation as the pair work to centre data in the exploration of complex ESG statistics and reporting.
In an effort to support as many clients as possible the offerings will cover aspects including Scope 3 greenhouse gas emissions accounting and management, ESG Managed Services and EY Sustainable Enterprise Asset Management (SEAM) tool for scope 1, 2 and 3 carbon capture, analysis and decision support.
“Our research with CSOs globally shows that leading organisations are seeing opportunities to use innovations driven by more regulated geographies to gain competitive advantage and become future fit, and this is a great example,” says Amy Brachio, EY Global Vice Chair, Sustainability.
“Too often organisations are navigating disparate data, systems and spreadsheets that anchor sustainability in operational data rather than business wide transformational insights and progress. Now they can access an organisation-wide view that creates report ready insights now, while also having the flexibility for evolving with reporting, standards and how the strategy evolves over time.”
EY & IBM Alliance
EY and IBM’s alliance is not a new endeavour. The two global giants have recently launched the Talent Center of Excellence and the EY-IBM Center of Excellence for Financial Services, as well as previous projects the Seam tool to capture and calculate carbon emissions data and EY Sustainable Travel Approval Tool (STAT), developed in collaboration with IBM Consulting. The partnership aims to support businesses in multiple aspects of sustainable development.
“In order for organisations to address an ever-evolving set of ESG challenges, solutions must be delivered and deployable at a faster pace than ever before,” says Steve Varley, EY Global Vice Chair - Sustainability.
“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.”
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