Temenos Awarded the Top ESG Rating by MSCI
Temenos (SIX: TEMN) has today announced that it has been awarded a triple A rating in the Morgan Stanley Capital Investment’s (MSCI) ESG rating. This represents the highest possible score and marks Temenos as a “leader”, sitting in the top 8 per cent for ESG progress within MSCI’s “Software and Services” category.
The report recognizes Temenos’ commitment to sustainability and the company’s strong management practices to address carbon emissions in comparison to its market peers in its operations as well as its product offering. This includes Temenos’ commitment to science-based emissions reduction targets that are consistent with keeping global warming to 1.5 degrees Celsius.
Temenos’ commitment to sustainability is embedded in its product offering. It recently announced the availability of its carbon emissions calculator – one of the industry’s first – giving its customers deeper insight into carbon emissions data associated with their consumption of Temenos Banking Cloud services.
This new Environmental Social Governance (ESG) tool presented at COP27 with Microsoft has been introduced by Temenos to estimate its own cloud and SaaS operations’ carbon emissions and is provided to Temenos Banking Cloud customers as a tailored carbon impact assessment at no cost. This helps them gain carbon insights from using Temenos Banking services, track progress towards their sustainability targets, and ensure compliance with growing climate-related regulation.
Beyond its environmental progress, Temenos has also scored particularly highly in both the Corporate Governance and Privacy & Data Security measurements. MSCI analysts highlight Temenos’ industry-leading governance provisions and its strong data security framework.
Max Chuard, Chief Executive Officer, Temenos, said: “We are delighted to announce that we have been awarded an “AAA” rating from MSCI’s ESG rating. At Temenos, we have embedded sustainability and inclusion within our operations, value chain and product offering, and it is great to be recognized as a market leader by the MSCI rating. We are committed to meeting our science-based targets and continuing our ESG mission to ensure we both manage our operations ethically and sustainably and also help our clients and partners transform into inclusive and sustainable organizations.”
Temenos has also cemented its leadership in the FTSE4Good and S&P Sustainability Indices and it has also been awarded an A- rating within the leadership band by the Carbon Disclosure Project (CDP). In addition, it has obtained platinum recognition, placing Temenos among the top 1% performers assessed by EcoVadis.
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