Temenos achieves top score in Carbon Disclosure Project
Temenos (SIX: TEMN), the banking software company, has been awarded an A- rating by the Carbon Disclosure Project (CDP) for its environmental performance. The top leadership rating recognizes Temenos for implementing current best practices on climate issues and the company’s significant and measurable environmental actions.
Temenos received an overall A- rating in the leadership band. This is higher than the Europe regional average of B and higher than the IT & software development sector average of C. Notably, Temenos received the top A category score for risk disclosure and emissions reduction initiatives.
The leadership rating from CDP follows a recent announcement on Temenos cementing its industry leadership position as one of the two companies in the Software and Services category in the Dow Jones Sustainability World and Europe Indices. Achieving top scores in the CDP and DJSI rankings sets Temenos apart as an environmental, social, and governance (ESG) front-runner.
Max Chuard, Chief Executive Officer, Temenos, said:
“The global economy looks to CDP as the gold standard of environmental reporting. Sustainability is a strategic priority for Temenos. Receiving this top rating recognizes once again our company’s strong ESG governance and disclosure while demonstrating the strength of the Temenos environmental roadmap and climate change strategy. Managing climate-related risks and opportunities towards a low carbon economy is a global challenge requiring an immediate response. More than ever, the banking technology sector has a critical role in driving change in the banking industry and leading by example. Our role towards a modern banking technology transformation is critical to providing our clients with the products to enable them to transition to a low carbon global economy. So in addition to incorporating climate change as a risk into our operations, we are equally committed to helping our clients transform into smart, sustainable organizations.”
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. In 2021, over 13,000 companies with over 64% of global market value disclosed environmental data through CDP. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative.
CDP applies a detailed and independent methodology as the basis of its assessment, assigning companies a score from A to D-, based on the comprehensiveness of their disclosure, awareness and management of environmental risks, and the best practices associated with environmental leadership, such as setting ambitious and meaningful targets.
Temenos has embedded sustainability within its operations, value chain and product offering, with strong ESG governance, reporting and measurable targets. The company communicates its non-financial performance annually in the Sustainability Report within its Annual Report, in accordance with Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) Standards. It has endorsed the United Nations Global Compact (UNGC) and supports the UN Sustainable Development Goals (SDGs). It is included in the SXI Switzerland Sustainability 25® Index, among the 25 Swiss stocks from the SMI® Expanded Index with the best sustainability scores. It is also included in the 2021 Dow Jones Sustainability World and Europe Indices (DJSI), ranking in the top 1% of the Software and Services category in the DJSI World, and in the FTSE4Good Index Series. It has also obtained platinum recognition, placing Temenos among the top 1% performers assessed by EcoVadis. It is also a member of the World Economic Forum, confirming its commitment to furthering the sustainable development impact agenda.
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