IBM Announces $45 Million Investment in Social Impact Program Centered on Climate Adaptation
Leading technology company IBM has unveiled a fresh commitment to allocate $45 million towards its social impact endeavor, the IBM Sustainability Accelerator. This investment is part of a pioneering initiative geared towards enhancing urban resilience through technology-driven climate adaptation solutions.
Established in 2022, IBM’s Sustainability Accelerator harnesses the power of IBM technology and knowledge to amplify the efforts of non-profit organizations and governmental entities. Its primary objective is to foster the creation of solutions tailored to assist vulnerable communities in addressing environmental challenges. Since its inception, the program has provided support to 15 projects globally, spread across three cohorts. These initiatives focus on various domains including sustainable agriculture, clean energy, and water management.
For the forthcoming cohort, IBM has unveiled a fresh call for proposals (RFP) aimed at soliciting solutions that advance city resilience, aligning with UN Sustainable Development Goal 11, “Sustainable Cities and Communities.” According to IBM, this new RFP seeks to bolster projects addressing challenges confronting cities amidst rapid urbanization, including environmental degradation and inadequate urban infrastructure, which can be exacerbated by climate change and extreme weather events.
Potential project areas under this RFP encompass AI foundational models and geospatial analytics, weather and climate forecasting to aid in predicting impacts on both natural and built infrastructure, and asset management for public services. IBM pledges to allocate $45 million over a span of 5 years, comprising cash contributions and in-kind donations of technology and services. Selection criteria for applicants will prioritize the level of assistance provided to communities vulnerable to urban environmental threats, the viability and longevity of proposed technology solutions for climate change mitigation, as well as transparency in measurement and reporting, among other factors.
In addition to this new commitment and RFP, IBM has announced the initiation of a strategic partnership with global professional services firm EY for the Sustainability Accelerator program. EY will contribute to the resilient cities cohort by assisting in the RFP selection process, providing organizational development coaching, and facilitating capacity-building workshops.
Justina Nixon-Saintil, Vice President and Chief Impact Officer at IBM, remarked:
“After three years working to improve lives and uplift vulnerable communities around the world, we’re proud to recognize the success of the IBM Sustainability Accelerator by strengthening both our impact and our investment in the program. We look forward to working with a new cohort of partners to transform the cities we live in, and to deploy solutions that harness the potential of artificial intelligence to build a more resilient future.”
March 15, 2024
