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Thomas Cook India and LTIMindtree sign agreement with Eurolife FFH for the Green Carpet Platform

Posted On: 2023-10-17 07:17:12 (Time Zone: IST)

As part of its innovative Green Carpet initiative, Thomas Cook (India) Limited, India's leading omnichannel travel services company, and LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, have inked an agreement with Eurolife FFH, a leading insurance group based in Greece, servicing over 500,000 customers with Life and non-Life insurance products.

Green Carpet, a pioneering global initiative aimed at tracking carbon emissions generated by business travel, addresses specific challenges faced by organisations by providing them with tools to capture, monitor, analyse, report, and ultimately reduce their carbon emissions. The platform offers real-time insights into Scope 3 emissions, thereby enabling organisations to markedly reduce their Environmental, Social, and Governance (ESG) reporting expenses.

The on boarding of Eurolife FFH onto the Green Carpet platform underscores the escalating necessity for global leaders to monitor and manage their carbon emissions while establishing ambitious sustainability targets.

Thomas Cook India and LTIMindtree's Green Carpet will deliver the following benefits to Eurolife FFH:

- Simplified data capture & analysis of travel emissions with real time dashboards
- Aligned with global sustainability frameworks
- Swift and easy integration with current business travel platforms of corporates
- Advanced AI & ML to provide analytics
- Decision making to drive enterprise net zero goals

About Green Carpet: In March 2023, Thomas Cook (India) Limited and SOTC Travel partnered with LTIMindtree to launch "Green Carpet," an innovative global platform designed to empower enterprises in efficiently tracking and mitigating carbon emissions generated by business travel. Developed with the expertise of Fairfax Digital Services, this ground-breaking initiative amalgamates Thomas Cook and SOTC's extensive experience in the travel sector, LTIMindtree's proficiency in ESG consulting and digital solutions, and the global insights of Fairfax Digital Services (a Fairfax company).

Mr. Madhavan Menon, Executive Chairman of Thomas Cook (India) Ltd said, "We are delighted to welcome Eurolife FFH to our pioneering Green Carpet sustainability initiative. Our united efforts emphasize the critical need for corporations worldwide to embrace sustainable practices and assume responsibility for their carbon footprint. Through Green Carpet, we are paving the way for a greener, more responsible business landscape.

Since its launch in March 2023, Green Carpet has garnered attention from prominent players in the international business landscape and our acquisition pipeline is looking encouraging. This strategic initiative is aligned with the company's commitment to fostering sustainable business practices and contributing to environmental preservation."

Sudhir Chaturvedi, President and Executive Board Member, LTIMindtree said, "We at LTIMindtree are working to simplify and accelerate the net zero journey of our clients by utilizing our ESG and digital solutions expertise. Green Carpet is a SaaS based platform that furthers the sustainability efforts of companies to make their business travel sustainable. This is achieved through the automation of data capture, calculation, insightful analytics, and the reporting of scope 3 emissions from the company's travel. The Green Carpet initiative was launched earlier this year along with Thomas Cook India, with the aim to improve monitoring and reporting of Scope 3 emissions aligned to global frameworks and reducing carbon footprint to build a greener planet."

Mr. Alexander Sarrigeorgiou, Chairman & Chief Executive Officer Eurolife FFH stated: "We aspire to be right by the people, not only through our insurance products but also through important initiatives that have a positive impact on society in various ways. Our ambition is to be a driving force for a more sustainable future for everyone, therefore we are very glad to join 'Green Carpet' within the framework of our overall ESG strategy. Every meaningful tool that helps the world tackle climate change must receive exposure and support."

Mr. Sanjay Tugnait, President and CEO Fairfax Digital Services said, "Green Carpet is a powerful enabler that will empower the enterprise customers to accelerate their journey to Net Zero. This is an exemplary partnership between Thomas Cook and Eurolife FFH powered by the Global Knowhow of Fairfax Digital to create ESG solutions. To capture, measure, benchmark and report is not only a requirement by the UN for scope 3 emissions but also a social obligation for us to do our bit and save the planet. In this the year of India's G20 Presidency, as a member of the G20 Startup 20 Task Force on Sustainability, I am delighted we have built this digital solution that we can showcase amongst the G20 nations."

Shares of LTIMindtree Limited was last trading in BSE at Rs. 5161.70 as compared to the previous close of Rs. 5096.75. The total number of shares traded during the day was 17599 in over 2680 trades.

The stock hit an intraday high of Rs. 5191.00 and intraday low of 5097.40. The net turnover during the day was Rs. 90827039.00.

Shares of Thomas Cook (India) Limited was last trading in BSE at Rs. 128.85 as compared to the previous close of Rs. 126.65. The total number of shares traded during the day was 21903 in over 212 trades.

The stock hit an intraday high of Rs. 129.35 and intraday low of 123.90. The net turnover during the day was Rs. 2799885.00.

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