IBM, a global technology giant, is known for its continuous innovation in the field of computing, cloud technology, and artificial intelligence (AI).
The company has now expanded its capabilities into environmental, social, and governance (ESG) reporting with its IBM Envizi ESG Suite.
The introduction of the Supply Chain Intelligence module addresses the growing need for businesses to manage and report on Scope 3 emissions. This need is driven by tightening regulations and the demand for transparency in sustainability practices, particularly with the advent of the EU’s CSRD and the IFRS’ ISSB standards.
IBM stands at the forefront of technological advancement, offering a wide array of services including AI, cloud solutions, and business consultancy. Its dedication to sustainability has led to the development of the IBM Envizi ESG Suite, a platform designed to assist companies in collecting, analyzing, and reporting ESG data efficiently.
The newly launched Supply Chain Intelligence module within the IBM Envizi ESG Suite enables companies to accurately collect and analyze emissions data across their supply chain. This tool facilitates the calculation and reporting of Scope 3 emissions, which are crucial for comprehensive ESG reporting and identifying opportunities for emissions reduction.
The module is particularly innovative because it allows for the aggregation of high-volume supplier and product-level transactional data. It supports automated data collection and analysis, significantly improving the quality of ESG reporting data.
This enhancement to the IBM Envizi ESG Suite comes at a time when companies worldwide are seeking solutions to meet new regulatory requirements and improve their sustainability performance. IBM’s initiative demonstrates its commitment to supporting businesses in their ESG reporting and sustainability goals.
IBM VP of ESG & Asset Management Kendra DeKeyrel said, “Assessing emissions from your supply chain for reporting and performance improvement presents a data challenge. IBM Envizi offers an integrated, centralized system to bring together supply chain data and broader ESG data to scale Scope 3 accounting and reporting.”
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