JLL - IBM and JLL Collaborate on ESG Reporting and Data Management Solution for Commercial Properties | Benzinga
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 ...