IBM and JLL have launched a global sustainability solution powered by IBM Envizi Technology, delivered by JLL's sustainability services team. JLL's Sustainability Program Management aids commercial real estate (CRE) companies in reducing carbon emissions, now enhanced by IBM Envizi ESG Suite for ESG reporting and data management. This solution addresses data management challenges as well as decision making in CRE. The IBM Institute for Business Value report shows low current ESG integration, but companies focusing on sustainability are likely to achieve higher profitability and revenue growth. JLL's initial rollout will enable thousands of client sites to adopt IBM Envizi software.
In a recent collaboration, IBM and JLL announced a sustainability solution that will be available globally and is to be operated by the IBM Envizi Technology, and delivered by JLL's sustainability services team.
JLL's Sustainability Program Management helps commercial real estate (CRE) companies with sustainability efforts, like reducing carbon emissions. This program will now use IBM Envizi ESG Suite, a software that helps with Environmental, Social, and Governance (ESG) reporting and managing data, to support and enhance their services.
The solution aims to help organizations in the CRE sector tackle issues like collecting and managing data from their various properties for better decision-making and public reporting. A report from JLL, titled "The Green Tipping Point," highlights that some companies are already choosing office spaces based on ESG requirements. This trend is expected to grow and become much more common in the next 12 to 24 months and by 2025, there will be a 30% shortfall in the market demand for low-carbon office spaces, which will drive a significant shift towards achieving net-zero carbon targets in the leasing market.
Currently, very few companies are employing ESG measures into essential business functions. A report from the IBM Institute for Business Value report highlighted that only 20% of responders are incorporating ESG metrics in supply chain operations, 26% in procurement and sourcing, and a mere 11% into real estate and facilities management. In order to meet their sustainability goals, companies must be more proactive and increase ESG integration. The report illustrated that companies who emphasise sustainability are likely to surpass their peers and competitors on profitability by 52%, and experience a 16% increase in revenue growth rate. One method to attain these outcomes is by utilizing strong data management and reporting systems.
JLL understands the significance of data management and reporting software in supporting their clients' sustainability strategies, with IBM Envizi being an essential component of the JLL Sustainability Program Management solution. The initial implementation will provide thousands of JLL clients' sites the chance to adopt the IBM Envizi software.