TCS partners with Switzerland’s Landis+Gyr to help utilities meet carbon emission goals – CNBC TV18
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“These solutions will empower utilities to help their commercial and industrial
customers achieve sustainability goals, improve operational efficiency, and reduce carbon emissions,” TCS said in a statement to the stock exchanges.
TCS said that over the next three years, it will integrate TCS Clever Energy, which leverages IoT, machine learning and AI to optimize energy consumption across campuses, with Landis+Gyr’s smart metering and grid management technologies to create a comprehensive energy management solution for utilities.
“By integrating TCS Clever Energy capabilities into our portfolio, we now provide a solution that supports utilities in delivering energy efficiency and sustainability solutions to their commercial and industrial customers. This ensures grid resilience while enabling utilities to meet both their and their customers’ sustainability goals.” Amith Kota, Global Chief Technology Officer at Landis+Gyr, said.
The announcement comes as businesses confront increasing pressure to help their customers meet sustainability targets and adapt to changing regulations.
In 2021, TCS had announced plans to reduce its absolute greenhouse gas emissions across ‘Scope 1’ and ‘Scope 2’ by 70 percent by 2025, and to achieve net-zero emission by 2030. In its recently published Integrated Annual Report 2020-21, the company has set forth this new carbon reduction goal after having achieved the previous target of reducing its specific carbon footprint by half by 2020, ahead of schedule.
TCS’ environmental footprint was significantly reduced in FY 2021 due to the large-scale switch to remote working, enabled by its ‘Secure Borderless Workspaces’ operating model, as per the company.
With over 97 percent of employees working from home throughout the year, resource consumption, emissions, and wastes were significantly lower.
Shares of TCS fell 1.3% to close at ₹4,416 on Monday. The stock price of India’s largest IT services company have given a return of 17% to its investors in 2024 (year-to-date), but has underperformed the sectoral index Nifty IT that rose almost 30% this year.
