Environmental factors impact every business, every day
In a year defined primarily by the global pandemic, 2020 was also marred by more weather and climate disasters than ever before, escalating in frequency and severity. There were 22 separate billion-dollar disasters in the U.S. alone, shattering the previous record. So, it comes as no surprise that for the fifth year in a row, the World Economic Forum cited extreme weather as the number one global risk in terms of likelihood to happen, with failure to adapt to climate change just behind at number two. To give you a sense of the urgency, cybersecurity comes in at number nine.
The past decade had the largest natural disaster impact on record, which resulted in an equally significant financial impact on businesses. With estimates of 6% of annual earnings affected by extreme weather and climate events, businesses must factor climate change into their decision-making.How can I factor the impact of climate change into my business operations in a scalable and repeatable manner.
Governments, investors and consumers are demanding action to address climate change by reducing carbon in the atmosphere -necessary to limit global warming. This is also driving businesses to set net zero greenhouse gas (GHG) emissions targets.
Our environment impacts every business, every day, requiring industry leaders to plan for and respond to immediate disruptions and longer-term trends. And taking the right action for your business at the right time requires more than just weather data. You need to employ advanced analytics and intelligent workflows to reimagine processes and better predict how weather will impact your assets, employees and customers. In the process, you can also meet new requirements for sustainability and do right by the planet.
The IBM Environmental Intelligence Suite has a long history of helping companies forge their own unique paths to environmental resilience and sustainability. Our suite of applications brings together your proprietary and third-party geospatial and weather data, with geospatial analytics, custom weather alerts and dashboard visualizations. Industry add-ons, including renewable energy forecasting, agribusiness, airports, vegetation management and outage predictions, provide even deeper insights so you can plan and adjust to changing conditions.
Prevent disruption to critical assets such as infrastructure and their operations by using geospatial data and analytics to assess the climate risk. Assess climate risks across supply network to determine security and prepare contingency plans. Wherever you are on your sustainability journey, IBM experts are here to help. With our deep domain and industry expertise, we can work with you to develop and implement the right strategies, operating models, intelligent workflows and technology innovation to achieve your sustainability goals.
Here are just a few examples of how we are helping companies manage climate risk while driving profitability and sustainability.
More innovations are coming soon to support your sustainability programs and environment intelligence, including an engine to help you track and reduce energy costs and carbon emissions, and another to assess and mitigate the impact of climate risks such as wildfire and flooding to your business.
Learn more about IBM Environmental Intelligence Suite solutions for climate risk management that are good for both your business and the planet.
You can also learn more about IBM sustainability solutions, and read the other articles in our enterprise sustainability series:
- How to create more sustainable operations – one asset at a time
- 3 high-value ways to accelerate your journey to supply chain sustainability
- Sustainably fueling the future: Accelerating decarbonization through clean electrification
- Sustainability: Core of your business strategy
Trends & directions: Empowering a resilient, sustainable future: Sustainability is a business imperative. Climate change, dwindling natural resources, and other hazards are disrupting business in unexpected ways, compelling organizations to transform the way they operate. Join us to learn how to tackle the most important challenges to your business with AI-powered solutions, intelligent automated workflows and open platforms to accelerate your journey to a resilient, sustainable future.