(IN BRIEF) EY and IBM are collaborating globally to provide environmental, social, and governance (ESG) solutions for organizations to accelerate business transformation with value-led sustainability. The collaboration will help integrate sustainability into business strategy, support operationalization of ESG programs, and transform value creation for businesses, stakeholders, people, and the planet. The collaboration will leverage EY’s Climate Change and Sustainability Services and IBM’s software, creating a set of frameworks and accelerators to help companies operationalize decarbonization action plans at the asset level. The offerings will include greenhouse gas emissions accounting and management, ESG managed services, and Sustainable Enterprise Asset Management tool.
(PRESS RELEASE) LONDON, 8-Mar-2023 — /EuropaWire/ — EY, a multinational professional services firm, and IBM have announced a global collaboration that focuses on providing environmental, social, and governance (ESG) solutions for organizations to accelerate business transformation with value-led sustainability. The partnership will offer innovative offerings that integrate sustainability with business strategy, support operationalization of ESG programs with speed and scale, and transform value creation for businesses, stakeholders, people, and the planet.
EY’s extensive experience in advising organizations on sustainability strategies and transformation, along with IBM’s innovative technology capabilities, portfolio of software, and deep understanding of emerging data standards, will address the complexities of ESG data. Collaborative offerings are planned to include Scope 3 greenhouse gas emissions accounting and management, ESG Managed Services, and EY Sustainable Enterprise Asset Management tool.
The collaboration will leverage the EY organization’s Climate Change and Sustainability Services and Technology Consulting practices, together with IBM’s software including the IBM Envizi ESG Suite, IBM Environmental Intelligence Suite, IBM Maximo Application Suite, IBM TRIRIGA Application Suite, IBM Turbonomic Application Resource Management (ARM), and IBM Supply Chain Intelligence Suite, to create a set of frameworks and accelerators to help companies operationalize decarbonization action plans at the asset level. The offerings will be orchestrated with leading technologies such as hyperscaler public cloud or ERP systems-of-record to meet client preferences across diverse hybrid IT landscapes.
The collaboration is expected to provide a unique opportunity for businesses to leverage EY and IBM’s complementary capabilities to accelerate their digital transformation and achieve better outcomes. The partnership will help organizations integrate sustainability with business strategy and create a set of frameworks and accelerators to help companies operationalize decarbonization action plans at the asset level.
EY and IBM teams have been collaborating in various ways to deliver value-led sustainability. One of these initiatives is the EY Sustainable Enterprise Asset Management (SEAM) tool, which leverages the IBM Maximo Application Suite to help organizations capture and calculate carbon emissions data, report it according to regulations, and set targets to drive action. The tool can be used on any public cloud and supports asset-heavy industries such as civil infrastructure, telecom, energy, mobility, and manufacturing.
Another initiative is the EY Sustainable Travel Approval Tool (STAT), which was developed in collaboration with IBM Consulting. STAT encourages employees to book more sustainable travel choices and supports organizations’ carbon ambition by providing users with greater visibility to both the financial and carbon footprint impact of business travel. Since its launch, the tool has reduced one-day travel from 18% to 3% of total trips, and increased train rail bookings to 36% compared to 10% in FY19, in countries where train rail is a viable option.
Steve Varley, EY Global Vice Chair – Sustainability, says:
“In order for organizations to address an ever-evolving set of ESG challenges, solutions must be delivered and deployable at a faster pace than ever before. 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.”
Kareem Yusuf, Ph.D., Senior Vice President, Product Management & Growth, IBM Software, says:
“A global energy crisis, rising costs and new regulations are among the ongoing and increasing challenges organizations face as they act to deliver upon their sustainability goals while still balancing revenue, risk and driving shareholder returns. IBM’s expanded collaboration with EY is a critical step forward in helping our joint clients accelerate their most pressing sustainability and business objectives.”
These initiatives build on the EY organization and IBM’s ongoing collaboration, which includes the recent launch of the Talent Center of Excellence and the EY-IBM Center of Excellence for Financial Services. Together, EY and IBM are committed to delivering innovative solutions that integrate sustainability with business strategy and help organizations accelerate their transformation towards value-led sustainability.
More information on the EY-IBM Alliance, here.
Terms and details of definitive agreements to be finalized. Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice, and represent goals and objectives only.
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform, and operate.
Working across assurance, consulting, law, strategy, tax, and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data, and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law were prohibited by local laws. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
IBM is a leading global hybrid cloud and AI, and business services provider, helping 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. Nearly 3,000 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 business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service.
For more information, visit www.ibm.com.
Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only.
Assistant Director, Media Relations and Social Media Ecosystems, Ernst & Young LLP
SOURCE: Ernst & Young Global Limited
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