IBM Launches New Framework for ESG Initiatives and Reporting
Global technology and business services provider IBM announced today the launch of IBM Impact, a new framework for outlining and reporting on the company’s ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. goals and initiatives. IBM Impact was introduced alongside the publication of the company’s 2021 ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. Report, which uses the new framework to report on the company’s ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. progress
The new framework establishes three pillars for IBM’s ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. work, including EnvironmentalEnvironmental criteria consider how a company performs as a steward of nature. Impact, Equitable Impact, and Ethical Impact.
EnvironmentalEnvironmental criteria consider how a company performs as a steward of nature. Impact includes IBM’s commitments to conserve natural resources, reduce pollution and minimize climate-related risks. Key goals in this category include IBM’s targets to achieve net zero greenhouse gas emissions by 2030, divert 90% of non-hazardous waste from landfill and incineration by 2025, and to initiate 100 client engagements or research projects with environmentalEnvironmental criteria consider how a company performs as a steward of nature. benefits by 2025.
Equitable Impact covers IBM’s socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. impact work, ranging from its diversity and inclusion goals and workforce initiatives to its community development and supply chain socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. responsibility commitments. Key goals in this category include skilling 30 million people globally by 2030, logging 4 million volunteer hours by 2025, and dedicating 15% of first tier supplier spend to Black-owned suppliers by 2025.
Ethical Impact includes IBM’s corporate governanceGovernance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights., business ethics and responsible technology initiatives, with goals including providing technology ethics education to 1,000 ecosystem partners by the end of this year and engaging 100% of suppliers on sound business practices. IBM noted that it has added a diversity modifier to executive annual incentive program metrics.
Arvind Krishna, IBM Chairman and Chief Executive Officer, said:
“IBMers have always applied their time, talent, and technology to make a meaningful impact in the world, evolving the nature of their work over time to meet the most urgent needs of society. As always, we stand ready to collaborate with our clients, partners, and governments to build a safer, more equitable and peaceful future.”
The post IBM Launches New Framework for ESG Initiatives and Reporting appeared first on ESG Today.
