The companies aim to offer capabilities orchestrated with technologies including hyperscaler public cloud or ERP systems-of-record

Marine on the coast of Portland, Maine, USA

EY partners with IBM to address complex ESG challenges. (Credit: IBM)

Ernst & Young (EY) has announced a partnership with IBM to address complex environmental, social and governance (ESG) challenges and power value-led sustainability. 

The companies will provide ESG solutions to support organisations to expedite business transformation in line with sustainability. 

Through the collaboration, EY and IBM will seek new capabilities to assist the combination of sustainability with business strategy. 

Both parties intend to provide offerings to organisations that help the operationalisation of their programmes with speed and scale and transformation of value created for the business, stakeholders and the planet. 

IBM stated that the companies are collaborating to tackle the enormous complexities of ESG data by bringing a strong understanding of evolving data standards. 

The companies are said to combine EY’s expertise in advising firms on sustainability strategies and transformation and IBM‘s technology capabilities and software portfolio to measure, deliver and report against sustainability goals. 

EY sustainability global vice chair Steve Varley said: “In order for organisations to address an ever-evolving set of ESG challenges, solutions must be delivered and deployable at a faster pace than ever before.  

“The value of this deepened and longstanding alliance is in how it leverages the consulting and technology capabilities of both EY and IBM teams, to be at the forefront of how clients plan and accelerate their ESG journey and build trust with their most critical stakeholders.” 

The companies aim to offer capabilities orchestrated with technologies including hyperscaler public cloud or ERP systems-of-record. 

Some of the offerings to be provided by the companies include scope 3 greenhouse gas emissions accounting and management, ESG managed services and EY Sustainable Enterprise Asset Management (SEAM) tool for scope 1, 2 and 3 carbon capture, analysis and decision support. 

IBM Software product management and growth senior vice president Kareem Yusuf said: “A global energy crisis, rising costs and new regulations are among the ongoing and increasing challenges organizations face as they act to deliver upon their sustainability goals while still balancing revenue, risk and driving shareholder returns.

“IBM’s expanded collaboration with EY is a critical step forward in helping our joint clients accelerate their most pressing sustainability and business objectives.”