LTIMindtree has announced a partnership with Thomas Cook (India) Limited to collaborate with Eurolife FFH

2024-05-01 03:55:10 Environment

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India, 16 October, 2023: 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 onboarding 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.

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."

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."

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

? Simplified data capture & analysis of travel emissions with real time dashboards
? Alignment 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

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."

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

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).

About Thomas Cook (India) Limited: Set up in 1881, Thomas Cook (India) Limited (TCIL) is the leading omnichannel travel company in the country offering a broad spectrum of services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Value Added Services and Visa Services. It operates leading B2C and B2B brands including Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied TPro, Australian Tours Management, Desert Adventures, Travel Circle International Limited (TCI 勝景), Sterling Holiday Resorts Limited, Distant Frontiers, TC Tours, Digiphoto Entertainment Imaging (DEI), Go Vacation, Private Safaris East & South Africa

As one of the largest travel service provider networks headquartered in the Asia-Pacific region, The Thomas Cook India Group spans 28 countries across 5 continents.

About LTIMindtree

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 82,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree ? a Larsen & Toubro Group company ? combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit https://www.ltimindtree.com/.

About Eurolife FFH: Eurolife FFH values most to be right by the people, designing insurance products that respond to every need they have. Member of Fairfax Financial Holdings Ltd., it is one of the top organizations in the Greek insurance sector. It offers integrated insurance solutions for individuals and companies that cover every aspect of life and business activity. Eurolife FFH has a broad network of insurance partners all over the country and works with them closely, in order to support its customers so that they can achieve more every day. Eurolife FFH aims to be a catalyst for positive change not only through its insurance products, but also through important initiatives that contribute to sustainable development. Having people in the epicentre, it designs and supports purposeful actions that focus on low birth rate and quality of life in remote areas, gender equality and inclusion, culture, entrepreneurship etc.

About Fairfax Financial Holdings Limited: Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Founded in 1985 by the present Chairman and Chief Executive Officer, Prem Watsa, the company is headquartered in Toronto, Canada. Its common shares are listed on the Toronto Stock Exchange under the symbol FFH and in U.S. dollars under the symbol FFH.U.