IBM recently announced their latest venture, Big Green Innovations, in order to develop products and services to address environmental problems.

Some ideas in the works include creating a way to measure a company's carbon emissions throughout the entire supply chain; creating software to make electric grids more efficient; developing techniques to forecast water supply for cities; improving water purification and solar technologies. And this is in addition to environmental consulting - or evaluating business practices and operations to find ways to reduce water and energy consumption and waste generated.

Of course Big Green Innovations isn't all altruistic. There's big money in clean and green tech right now. Investors are putting their cash behind new technologies, and there's a growing demand for them from busisnesses and consumers. IBM realizes this and has found a way to make it work for their business.

The idea came about during a companywide brainstorming session called InnovationJam, a process geared to "identify new market opportunities and create real solutions that advance businesses, communities and society in meaningful ways". IBM pledged $100 million in development funding for the top ideas that come from the "jamming" session. Big Green Innovations is the latest.

Before you start to write this off as another green washing scheme, think again. IBM has been a corporate green leader for over 30 years - long before green became cool. IBM's approach to business is as a corporate steward. They see that environmentally and socially responsible business practices can be beneficial to the bottom line. This new venture only falls in line with their current corporate mantra:

By considering the environmental impact of their endeavors-and adopting clean technologies and environmentally sound practices - busniesses can have a profund affect on the planet not only without sacrificing revenue, but while improving it.

Via CNET; IBM