If you have read about the changes in the corporate world recently, you have no doubt heard of the term CSR, which stands for Corporate Social Responsibility, and ESG, which stands for Environmental, Social and Corporate Governance. Organizations of all kinds and sizes seem to be advertising, blogging, announcing their goals in these areas and talking about the progress they have made in this field.
The topics of CSR and ESG are not new, but they have certainly gained more attention as a result of social change, increasing environmental concerns, and regulatory requirements. In particular, issues of environmental sustainability have received a great deal of attention recently, as fires, floods, and other natural disasters caused by climate change are wreaking havoc around the world. As a result, many organizations have ambitious plans to do things like reduce energy consumption and carbon emissions, and do everything they can to reduce their environmental impact. Companies are not only focusing their efforts here, but also the companies they work with in the supply chain. While most of these challenges are caused by epidemics, some can be related to environmental changes. This is especially true in industries such as agriculture and energy. Looking to the future, many organizations are also concerned about the impact of future climate and environmental issues on business continuity. In the latest Global Risks Report from the World Economic Forum 2021, the three threats to jobs in the next 10 years are linked to climate and the environment: extreme weather, climate failure, and human-led environmental damage.
In this regard, IBM's new SaaS proposal for environmental data collection (EIS) seems very reasonable. It also—perhaps for some latecomers—provides a more comprehensive explanation for why IBM bought The Meteorologist (the digital asset behind The Weather Channel, but not the cable channel itself) more than five years ago.
The Environmental Information Collection combines comprehensive climate information with geospatial analysis and advances IBM research with artificial intelligence. These capabilities allow companies using the tool to monitor and predict climate and environmental changes, even in the medium to long term. They also provide insights into how these changes affect the company's performance.
This type of information can be very important to industries such as transportation and logistics, as well as insurance, agriculture, and energy. Not only can EIS provide a variety of clear warnings, but it can also do things like cover satellite images of trees growing on top of existing power lines to alert energy companies to where they are putting their efforts to improve trees.