IBM Acquires Envizi to Impel ESG PracticesBy Cinthya Alaniz Salazar | Tue, 01/11/2022 - 17:55
IBM complemented its growing asset management portfolio with the acquisition of Envizi, a leading data and analytics software specialized in environmental performance management. Its new acquisition will allow IBM to capture the growing number of companies invested in meeting ESG practice, help them create more efficient operations and reduce the environmental impact of their supply chain, said IBM in a press release this morning.
"As a leader and innovator in AI for business, IBM has decades of experience helping organizations around the world harness the power of their data and act on it," said David Solsky, CEO and Co-Founder, Envizi. "IBM's global reach, depth of resources and breadth of expertise will help us to scale at an unprecedented pace. As part of IBM, we feel more confident than ever that we can achieve our goal of providing clients and partners with the world class tools they need to reduce their operational impacts and optimize for the low carbon future."
Social-political pressure for companies to meet ESG commitments from regulators and consumers alike has grown in tandem with the undeniable regularity of extreme weather events. At the end of last year this problem intersected with supply chain disruptions and bottlenecks, which outlined to companies that their standing operational procedures had become outdated in the digital age. Attentive to this US$35 trillion market, IBM has maneuvered to provide this much needed service, as reported by MBN.
Envizi’s data-centric approach will automate the collection and consolidation of more than the 500 data types, which it will use to identify efficiency opportunities and assess sustainability risks on a single user-friendly dashboard. Its compatibility with IBM’s AI-powered software will enable automated feedback across corporate environmental initiatives and operational endpoints, a crucial step in making ESG efforts scalable.
"To drive real progress toward sustainability, companies need the ability to transform data into predictive insights that help them make more intelligent, actionable decisions every day," said Kareem Yusuf, PhD, General Manager, IBM AI Applications. "Envizi's software provides companies with a single source of truth for analyzing and understanding emissions data across the full landscape of their business operations and dramatically accelerates IBM's growing arsenal of AI technologies for helping businesses create more sustainable operations and supply chains."