Why IBM pledged net zero emissions by 2030?  - Kalkine Media

February 18, 2021 02:36 PM GMT | By Kunal Sawhney
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Summary

  • Tech major IBM aims to hit net zero emissions target by 2030 by reducing its emissions by 65% by 2025.
  • IBM announced a new partnership with Singapore AIoT company Envision Digital to develop renewable energy management solutions.
  • The software giant became one of the 20 companies to join the Climate Pledge initiative spearheaded by Amazon CEO Jeff Bezos.

 

Software giant IBM (NYSE: IBM) pledged to achieve net zero carbon emissions by 2030, joining e-commerce company Amazon’s Climate Pledge initiative. The technology company is one the most high-profile firm to join the initiative.  

 

Amazon’s Climate Pledge, spearheaded by its CEO Jeff Bezos, includes 53 companies from 12 different nations with the goal of achieving net zero target by 2040. Bezos had pledged a US $10 billion to fight climate change in 2019. 

 

Want to know more? Do read: Amazon’s green energy initiative: strikes deal to buy over 380MW of clean power 

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Net zero targets  

The technology firm plans to reduce its emissions by almost 65 per cent by 2025. Besides, it aims to use 75 per cent of its global electricity consumption from renewable sources of energy by 2025, increase it to 90 per cent by 2030. 

 

The company also aims to use carbon capture technology to remove residual emissions either equal to or above the amount emitted by IBM. It had also previously supported the Paris Agreement in 2015 and in 2017, urging the US to not exit the accord while under the former US President Donald Trump’s administration. 

 

New partnership 

The software giant also announced a new partnership with Singapore-based artificial internet-of-things (AIoT) company Envision Digital to develop renewable energy management solutions following its climate pledge. 

 

The deal aims to develop go to market solutions combining AIoT technology and the US-based company’s sustainability products and services to seamlessly aid businesses to transition to low carbon output across sectors such as government, real estate, oil and gas, energy and utilities, infrastructure, and others. 

 

Focus on decarbonisation 

Several technology companies have accelerated their sustainability goals in recent years. E-commerce giant Amazon’s (NASDAQ: AMZN) CEO Jeff Bezos had announced in 2019, the company aims to become carbon neutral by 2040 and meet the targets set by the Paris Agreement. 

 

Last July, iPhone manufacturer Apple (NASDAQ: AAPL) announced that its plans to achieve net zero emissions by 2030. Software company Microsoft (NASDAQ: MSFT) had similarly announced in January that its plans to be entirely carbon neutral by 2030. 

 

Want to know more? Do read: Technical Overview of Global Tech Giants- Microsoft Corporation and IBM 

 

Stock price 

 

The software giant IBM’s (NYSE: IBM) stock prices closed at US $119.97, marginally down by  0.083 per cent as of 17 February.  

 


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