Temenos Introduces Carbon Emissions Calculator on its Banking Cloud
Temenos announced that a carbon emissions calculator, one of the first in the industry, is now available. This gives Temenos customers a better understanding of the carbon emissions data related to their use of Temenos Banking Cloud services.
Temenos developed this method to evaluate the carbon footprint of their own cloud and SaaS activities. Grant Thornton, one of the world's largest accounting and consulting firms, independently verified the calculator's methodology.
To report carbon emissions metrics, the calculator uses data given by Microsoft Cloud for Sustainability Emission Impact Dashboard services.
Temenos Banking Cloud customers can get this new Environmental Social Governance (ESG) offering for free. It is a custom carbon impact assessment showing them how using Temenos Banking services affects their carbon footprint. It will help them keep track of how far along they are in meeting their sustainability goals and following the growing rules about the climate. The Temenos Banking Cloud client site includes an emissions calculator.
Migrating from legacy IT systems to cloud-based services can reduce carbon emissions dramatically. Industry groups like the International Sustainability Standards Board (ISSB) are making banks follow new reporting rules that will make their carbon emissions more transparent.
Temenos helps customers meet these standards by giving them a full set of data on cloud emissions, in addition to the data that Microsoft gives them on how much Azure they use.
This lets banks figure out how much carbon their Temenos Banking Cloud subscription produces each year and how much carbon they could save by running their workloads in the cloud instead of in their data centres.
Banks that use Temenos Banking Cloud save more than 90% on carbon emissions when compared to on-premise IT infrastructures. Temenos Banking Cloud is powered by Azure and uses services like Azure Kubernetes Service, Azure Functions, Azure SQL and more.
Temenos, Chief Executive Officer, Max Chuard, said:
“Our mission is to help our clients with their digital transformation while providing them with the open cloud platform to transition to a low-carbon global economy. With this one-of-a-kind carbon emissions calculator, we're giving our cloud customers the tools they need to make their own operations less harmful and reach their sustainability goals. We are transparent with our climate action commitments, determined to reduce our own environmental impact by setting science-based targets and improving the carbon efficiency of our products while helping our clients transform into smart, sustainable organisations."