Temenos emissions reduction targets get validation

Temenos emissions reduction targets get validation

Temenos, an enterprise software developer for banks and financial services, has received validation from Science Based Target initiative (SBTi) for its emissions reduction targets.

The SBTi certified Temenos’ commitment to reduce absolute scope 1, 2, and 3 GHG emissions 50 per cent by 2030 from a 2019 base year. Temenos stated this target is aligned with keeping global warming to no more than 1.5°C compared to pre-industrial levels.

It added that this commitment underpins its strategy to integrate ESG into its operations and product offerings, as well as the goal of becoming a net zero organisation by 2050 across its global operations and value chain.

Temenos chief ESG and marketing officer Kalliopi Chioti said “We are proud to join the world’s top businesses in this race towards a net-zero economy because we believe that climate change is not only one of the greatest risks facing the planet, but also one of the greatest opportunities for sustainable innovation.

“Our focus on ESG is a key part of our business strategy. We believe ESG and digital transformation belong together, and so our mission is to help clients digitally transform with an open cloud platform that also empowers the transition to a low-carbon global economy.”

The SBTi is a collaboration between Carbon Disclosure Project, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature.

The body defines and promotes best practice in science-based target setting to prevent the most damaging effects of climate change and independently assesses companies’ targets. Temenos is now one of 2,218 to have validation from SBTi.

In other ESG FinTech news, London-based ESG FinTech company ekko opened up its services to employers, banks and payment providers for the first time. Prior to this launch, the services were only available to consumers.

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