IBM and JLL Collaborate on ESG Reporting and Data Management Solution for Commercial Properties
CHICAGO, July 15, 2024 /PRNewswire/ -- IBM (NYSE:IBM) and JLL (NYSE:JLL) today announced a sustainability solution powered by IBM Envizi technology and delivered by JLL's sustainability services team, available globally.
JLL's Sustainability Program Management, which provides sustainability services, such as decarbonization strategies to the commercial real estate (CRE) sector, will now be underpinned by ESG reporting and data management software in the form of the IBM Envizi ESG Suite.
The solution is designed to help address the challenges organizations in the CRE sector are facing, such as capturing and managing data across real estate portfolios for decision-making and public reporting. According to a research report provided by JLL, "The green tipping point", while some corporate lease demand is already shifting based on ESG requirements, the next 12 to 24 months will bring widespread change. By 2025, 30% of market demand for low carbon office space will not be met – creating a tipping point for net zero carbon target penetration in lease markets.1
However, across organizations, the integration of ESG metrics into core functions is limited. The IBM Institute for Business Value report, "The ESG Data Conundrum", showed that only 20% of respondents are integrating ESG metrics into supply chain operations; 26% into procurement and sourcing; and just 11% of those surveyed, into real estate and facilities management2. It follows that in order to address their sustainability goals companies must increase this integration. In fact, according to the IBM Institute for Business Value report, "Beyond Checking The Box", those organizations that operationalize sustainability are 52% more likely to outperform their peers on profitability, and enjoy a 16% higher rate of revenue growth3. In this scenario, one way to achieve these results is through the help of robust data management and reporting platforms.
JLL recognizes the importance of data management and reporting software to support their clients' sustainability strategies, and IBM Envizi is a critical part of the JLL Sustainability Program Management solution. The initial roll out will offer thousands of JLL clients' sites the opportunity to onboard to the IBM Envizi software.
Guy Grainger, Global Head of Sustainability Services at JLL, said: "As ESG reporting requirements are increasingly mandated, our clients rely on us to help deliver decarbonization strategies across their portfolios. We identified IBM Envizi as our preferred solution that will allow our expansive team of sustainability subject matter experts to provide more robust reporting and data management around these strategies."
Kendra DeKeyrel, Vice President of ESG and Asset Management at IBM, said: "Now more than ever, organizations 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."
To learn more about IBM Sustainability, please visit www.ibm.com/sustainability. To learn more about JLL's Sustainability Services, please visit https://www.us.jll.com.
About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.
About JLL
For over 200 years, JLL (NYSE:JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Media Contact:
IBM
Agustina Begalli
[email protected]
JLL
Jesse Tron
[email protected]
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1 | JLL's The green tipping point: https://www.jll.co.uk/en/trends-and-insights/research/the-green-tipping-point |
2 | Download "The ESG data conundrum" report, IBM Institute for Business Value: https://www.ibm.com/thought-leadership/institute-business-value/en-us/report/esg-data-conundrum |
3 | Download "Beyond checking the box" report, IBM Institute for Business Value: https://www.ibm.com/thought-leadership/institute-business-value/en-us/report/sustainability-business-value |
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SOURCE JLL-IR