IBM announced the launch of a new Supply Chain Intelligence module in its ESG data collection, analysis and reporting platform, IBM Envizi ESG Suite, adding capabilities for companies to collect and analyze supply chain emissions for Scope calculations and reporting. 3.
The new features come as companies globally face increasing regulatory pressure to report their Scope 3 emissions, or those originating in their upstream and downstream value chains, with emerging sustainability reporting standards , including the EU CSRD and IFRS ISSB standards that require Scope 3 disclosure. While Scope 3 emissions are often responsible for the majority of many companies' carbon footprint, they are typically the most difficult to monitor and report, as they occur in areas outside the direct control of companies.
According to IBM, the new module enables users to capture and aggregate high-volume product- and vendor-level transactional data, including automated collection and analysis of product-level data request data, providing better data quality for reporting and the ability to identify opportunities for emissions reductions.
In a post announcing the new features, Kendra DeKeyrel, vice president of ESG and asset management at IBM, said:
“Assessing your supply chain emissions for reporting and performance improvement presents a data challenge. IBM Envizi offers an integrated, centralized system for bringing together supply chain data and broader ESG data to scale Scope 3 accounting and reporting.”
IBM acquired Envizi in 2022 as part of its efforts to enhance its AI-based ESG solutions capabilities.
