Dive Brief:
- JLL is deploying IBM’s ESG reporting and data management software in its sustainability program management to support clients’ decarbonization strategies, the real estate services firm announced Monday.
- The IBM Envizi ESG Suite can operate as a single data source for companies’ ESG reporting requirements, with features that include automatic data capture, data structuring and connectivity to operational systems, according to IBM’s website.
- By leveraging this platform for its sustainability program, JLL aims to help commercial real estate owners and operators address challenges with capturing and managing data across their portfolios while ensuring compliance with ESG reporting requirements, the firm said in a news release. The initial rollout will give thousands of JLL client sites access to the software, JLL said.
Dive Insight:
ESG metrics are not widely integrated into core functions of most organizations, according to The ESG Data Conundrum, a 2023 report from the IBM Institute for Business Value. The survey, one part of which involved 2,500 executives across 22 industries, found that only 11% said they are integrating ESG metrics into real estate and facilities management.
Companies must increase the integration of ESG metrics into their core functions to meet their sustainability goals, JLL said in the release. It also noted business reasons for ESG tracking: Its research indicates demand for low-carbon office space is expected to exceed supply by 30% by 2025 and by more than 70% by 2030.
Steven Newman, chief commercial officer of sustainability at JLL Work Dynamics, noted that automation is key for successful ESG data collection and reporting. JLL will use IBM Envizi to manage client data and generate insights that can help its clients “understand where they are on their journey and what further actions they can take to meet compliance requirements,” Newman said in an email. “This work may be done at a building level, where adjustments can be made on-site, or at an organizational level, where a program of work is necessary to fundamentally shift how a client operates.”
JLL’s sustainability program management combines its access to data, market insights and implementation services with IBM’s technology. This move is part of a wider strategy to marry JLL’s advisory solutions with other leading technology solutions in the market, including Jupiter for climate risk data, to help clients meet regulations, hit their decarbonization goals and fulfill reporting obligations, Newman said.
