IBM and JLL have introduced a new sustainability solution, powered by IBM’s Envizi technology and delivered by JLL’s sustainability services team, available globally.
JLL’s Sustainability Program Management, which offers sustainability services such as decarbonization strategies to the commercial real estate (CRE) sector, will now incorporate IBM Envizi ESG Suite for enhanced ESG reporting and data management.
This solution aims to address the challenges that organizations in the CRE sector face, such as capturing and managing data across real estate portfolios for decision-making and public reporting. According to JLL’s research report, “The Green Tipping Point”, corporate lease demand is shifting based on ESG requirements. In the next 12 to 24 months, significant changes are expected. By 2025, 30% of the market demand for low-carbon office space will remain unmet, creating a tipping point for net zero carbon targets in lease markets.
However, integrating ESG metrics into core functions remains limited. The IBM Institute for Business Value report, “The ESG Data Conundrum”, indicates that only 20% of respondents integrate ESG metrics into supply chain operations, 26% into procurement and sourcing, and just 11% into real estate and facilities management. To achieve sustainability goals, companies need to increase this integration. The report “Beyond Checking The Box” shows that organizations operationalizing sustainability are 52% more likely to outperform their peers in profitability and enjoy a 16% higher rate of revenue growth. Robust data management and reporting platforms can help achieve these results.
JLL acknowledges the significance of data management and reporting software in supporting their clients’ sustainability strategies, with IBM Envizi being a crucial part of the JLL Sustainability Program Management solution. The initial rollout will offer thousands of JLL clients the opportunity to onboard the IBM Envizi software.
Guy Grainger, Global Head of Sustainability Services at JLL, stated, “As ESG reporting requirements become increasingly mandated, our clients rely on us to deliver decarbonization strategies across their portfolios. We identified IBM Envizi as our preferred solution, allowing our sustainability experts to provide more robust reporting and data management for these strategies.”
Kendra DeKeyrel, Vice President of ESG and Asset Management at IBM, added, “Organizations now more than ever need ESG data to underpin their sustainability performance initiatives and reporting. We look forward to working with JLL to enable their customer base with our AI-infused, specialized software to meet their evolving business needs.”
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By Proptechbuzz
By Ravi Kumar