Green Carpet is a SaaS based platform that seamlessly captures, monitors and reports business travel emissions in line with Global ESG Reporting standards

Mumbai, 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.

TCIL has been felicitated with The Best Tour Operator at India Travel Awards North 2023, winner of the Corporate Citizen Award (Travel Tourism & Hospitality) at the Corporate Citizen Conclave & Award 2023, The Outbound Tour Operator of the Year 2022 & 2019 at the SATTE Awards, IAMAI India Digital Awards 2022, CNBC-TV18 & ICICI Lombard India Risk Management Award – Travel & Leisure Category 2022 & 2021, CIO100 Award for digital innovation 2022, ‘Innovation in Omni-experience’ Award at International Data Corporation’s (IDC) Industry Innovation Awards 2021, The Best Travel Agency – India at TTG Travel Awards 2019, The Best Outbound Tour Operator at the Times Travel Awards 2019 & 2018, Silver award for Asia’s Best Integrated Report (First Time) category at the Asia Sustainability Reporting Awards 2019-2021, Best Risk Management-Framework & Systems at the India Risk Management Awards 2019; The French Ambassador’s Award for Exemplary Achievements in Visa Issuance 5 years in a row and the Condé Nast Traveller – Readers’ Travel Awards from 2011 to 2019.

CRISIL has reaffirmed the rating on debt programs and bank facilities of Thomas Cook (India) Limited – ‘CRISIL AA- / Stable’ on the long-term bank facilities of TCIL and ‘CRISIL A1+’ rating on the short-term bank facilities and short- term debt of the Company.

For more information, please visit www.thomascook.in

Fairbridge Capital (Mauritius) Limited, a subsidiary of Fairfax Financial Holdings Limited, promotes TCIL by holding 72.34% of its paid-up capital and is responsible for the execution of acquisition and investment opportunities.