GENEVA, Switzerland, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN) has received validation on its ambitious Scope 1, 2 and 3 emissions reduction targets with approval from the Science Based Target initiative (SBTi).
The SBTi validated Temenos’ commitment to reduce absolute scope 1, 2, and 3 GHG emissions 50 per cent by 2030 from a 2019 base year. This target is aligned with keeping global warming to no more than 1.5°C compared to pre-industrial levels, the most ambitious reduction goal of the Paris Agreement.
This commitment underpins Temenos’ strategy to integrate ESG into its operations and product offering and to become a net zero organization by 2050, across its global operations and value chain, while helping clients transform into smart, inclusive and sustainable organizations.
Since both operational Scope 1 and 2 and value chain Scope 3 emissions are covered by this science-based target, Temenos’ Scope 3 target is also considered ambitious, exceeding the minimum ambition for the 2°C pathway under the Absolute Contraction Approach, in the target year of 2030.
SBTi 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 one of 2218 companies with an officially validated target, to reduce its emissions in line with climate science.
SBTi is a collaboration between Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
Kalliopi Chioti, Chief ESG and Marketing Officer, Temenos, commented: "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.”
Temenos has proven its commitment to transparency on climate, by disclosing and achieving top scores in the DJSI and CDP, aligning its strategy with the Task Force of Climate-Related Financial Disclosures guidelines and developing tools such as the Temenos Carbon Emission Calculator on the back of the Temenos Banking Cloud, enabling banks to track progress toward their sustainability targets.
An overview of Temenos’ environmental roadmap towards a net zero economy and more information about the company’s ESG achievements are available here.
About Temenos
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve over 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.
For more information, please visit www.temenos.com.
Media Contacts Jessica Wolfe & Scott Rowe Temenos Global Public Relations Tel: +1 610 232 2793 & +44 20 7423 3857 Email: press@temenos.com Alistair Kellie SECNewgate Communications on behalf of Temenos Tel: +44 20 7680 6550 Email: allnewgatetemenos@secnewgate.co.uk
