The Rise of Sustainable Business
Technology is transforming the world. We witness breakthroughs that we could not have imagined years ago. Technology moves fast. The world has to keep up and adapt fast. Digital technologies and the rise of an interconnected world are transforming the way businesses think, plan and operate. Business models are not linear any more. Millennials and Gen Zers are questioning the ‘traditional’ ways, mobilize themselves for a variety of causes, and are now setting new game rules.
Our roles as CEOs have been transforming as well. We are looking for new and better ways to listen and act upon the expectations of our stakeholders. We have witnessed a number of initiatives in the headlines lately, just to name a few: the Business Roundtable new statement on corporate purpose, BlackRock and State Street letters to CEOs, as well as the aspiring teenage world-changers sitting on the same table along with CEOs at the United Nations (UN) or the World Economic Forum (WEF) events. We have the ethical responsibility to consider the expectations of our stakeholders, along with our corporate purpose, our company’s strengths, the opportunities and trends in the global marketplace, and our personal aspirations and values to get a clear understanding of what will generate value to all those associated with us.
Our sector has experienced more change in the last five years than in the previous 20 years combined. Digital technology is transforming banking. Being innovative, fast, flexible and compact in size can put you ahead of the game. Banks are changing to adapt to this new fast-paced, digital, interconnected global world: moving from the physical to the digital model service delivery that transcends border, time or adverse event limitations, topped up with all the new risks and the ethical implications of an increasingly digital world as well as the changing new regulations. The possibilities now emerging for companies are equally transformational as challenging.
At Temenos, we are proud of our dynamic and sustainable presence in the banking industry for over 25 years, as an enabler for the transformation and re-invention of banks, having built one of the world’s most dynamic banking communities, where we share best technology banking practices and see their impact on our stakeholders.
As a truly global company, we want to keep on doing what we know best in a way that takes care of the world around us both globally and locally. It is our mission and ethical responsibility to keep growing our business in a responsible and sustainable way, delivering value to anyone associated with us. Responsibility after all is in our Culture, Temenosity, the magic that makes Temenos, Temenos.
In 2019, we renewed our commitment to furthering the agenda for global action on sustainability and advancing the UN Sustainable Development Goals through our engagements with the UN Global Compact and WEF.
We also remained close to the local communities where our employees, Partners and clients live and work, by sharing our technology, expertise and resources with those that need them the most. Through the Temenos Adopt iT project, we built solar-powered computer labs in two additional schools in India, reaching more than 8,000 students in five government or government-aided schools in Chennai and Bangalore. It is with enormous pride that I keep returning to India and volunteer myself along with our Temenos India volunteers every time we build another computer lab: to help these children improve their work skills and capabilities and promote gender equality and inclusive education for all.
They are the ones who will transform local communities, enhance India’s competitiveness and change the world.
We also expanded the Adopt-iT program to promote innovation and digital skills and create employment opportunities to University students. We created the first Temenos Innovation Lab and provided 43 need and merit-based scholarships to deserving engineering students at Anna University in Chennai. And this is only the beginning. Our long-term goal is to reach as many young people as possible and inspire them to achieve, do better, and improve their own lives and others within the communities around them.
We are also proud of the progress we have made in 2019 on our long term environmental sustainability journey. Temenos received ISO 14001:2015 certification for having implemented an Environmental Management System (EMS) in our office in Romania, adding to our three already certified offices in India. In addition, we measured for the first time the carbon footprint of our two biggest Temenos events – Temenos Community Forum and General Sales Meeting 2019 – and offset the emissions that could not be avoided or reduced.
At Temenos, we believe that people can make the difference. Our strength lies in our people, as our people are the key to our success. What we create and achieve is the result of the aspirations and goals of the 8,000 Temenosians that make up Temenos today. And a solid proof of that were our four 2019 Great Place to Work recognitions in Europe, Middle East and Asia.
For us, it is not enough to simply have a CSR strategy. Instead we have integrated responsibility into the way we operate, promoting a sustainable corporate strategy across our entire business and beyond. In 2019, we celebrated a big milestone in our sustainability journey: our inclusion in the 2019 Dow Jones Sustainability World Index (DJSI), ranking in the top 10% of the largest global companies listed, as well as our inclusion in the FTSE4Good Index Series.
As we look to the future, we will continue to embrace our global role and create sustainable value for all our stakeholders. Maintaining the trust of our stakeholders and remaining accountable to them is critical to us. We will keep on doing what we know best – while managing our operations responsibly – from investing in our people and managing our carbon footprint, to providing secure, compliant and trustworthy services to our clients, while conducting our business in an ethical and transparent way.