IBM a global hybrid cloud and AI provider and JLL, a commercial real estate and investment management company, have unveiled a new global sustainability solution to support the sustainability efforts of the commercial real estate (CRE) sector. Powered by IBM Envizi technology and delivered by JLL’s sustainability services team, JLL’s Sustainability Program Management offers decarbonisation strategies and other sustainability services to the CRE sector. This tool is being supported by the IBM Envizi ESG Suite for ESG reporting and data management.
This solution aims to help CRE sector organisations capture and manage data across real estate portfolios for better decision-making and public reporting.
According to JLL’s research report, “The Green Tipping Point,” corporate lease demand is already shifting based on ESG requirements, and significant changes are expected in the next 12 to 24 months. By 2025, 30% of the market demand for low-carbon office space is projected to be unmet, indicating a critical point for net-zero carbon targets in lease markets.
Despite the importance of ESG integration, a report from the IBM Institute for Business Value, “The ESG Data Conundrum,” reveals limited integration across organisations with only 20% integrating ESG metrics into supply chain operations, 26% into procurement and sourcing, and just 11% into real estate and facilities management. Companies must enhance this integration to meet sustainability goals.
The IBM report “Beyond Checking The Box” indicates that organisations that operationalise sustainability are 52% more likely to outperform their peers in profitability and enjoy a 16% higher rate of revenue growth. Robust data management and reporting platforms are key to achieving these results.
Recognising this, JLL has integrated IBM Envizi into its Sustainability Program Management solution, initially offering the IBM Envizi software to thousands of JLL clients’ sites.
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 decarbonisation 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, “We look forward to working with JLL to enable their customer base with our AI-infused, specialised software to meet their evolving business needs.”