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Dynatrace aids Lloyds with IT carbon footprint tracking

EditorEmilio Ghigini
Published 02/12/2024, 07:34 AM
© Reuters.
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WALTHAM, Mass. - Dynatrace (NYSE: NYSE:DT), a company specializing in unified observability and security, has partnered with Lloyds Banking Group (LON:LLOY), a major UK financial institution, to enhance the bank's ability to measure and manage the carbon impact of its IT operations. This collaboration aims to assist Lloyds in achieving its sustainability targets by providing detailed insights into the environmental footprint of its digital infrastructure.

The initiative involves the use of Dynatrace's Carbon Impact application, which calculates the carbon dioxide equivalent (CO2e) of IT resource utilization, including CPU, memory, disk, and network I/O. The app also offers recommendations on reducing the carbon footprint and includes filters to pinpoint high-impact areas for improvement. Leveraging the Dynatrace platform's Smartscape topology and dependency mapping, the tool provides precise optimization insights, aiding in the establishment of green coding practices.

Product Lead at Dynatrace, Klaus Enzenhofer, mentioned that the Carbon Impact app was introduced last year and has since been refined in collaboration with Lloyds Banking (NYSE:LYG) Group to better support hybrid and multicloud environments. This partnership has accelerated product development while helping customers meet their environmental objectives.

Kevin Bird, Operational Performance and Analytics Lead at Lloyds Banking Group, highlighted the benefits of working with Dynatrace, stating that the partnership has enhanced the bank's ability to scrutinize IT carbon emissions. The collaboration has enabled Lloyds to identify effective sustainability efforts within their IT architecture, which is crucial for their goal to reduce direct operational carbon emissions by at least 75%.

This announcement is based on a press release statement and comes amid increasing pressure on financial institutions to address climate change and reduce their environmental impact. Dynatrace's Carbon Impact app represents a step forward in providing the necessary tools for businesses to understand and mitigate their carbon footprint within the IT sector.

InvestingPro Insights

In light of Dynatrace's recent collaboration with Lloyds Banking Group to enhance sustainability in IT operations, investors may find the following metrics and InvestingPro Tips particularly relevant. With a market capitalization of $17.47 billion and a high gross profit margin of 82.53% for the last twelve months as of Q2 2024, Dynatrace showcases a robust financial foundation. The company has also demonstrated considerable revenue growth, with an increase of 24.67% over the same period.

InvestingPro Tips indicate that analysts are optimistic about Dynatrace's financial future, with 26 analysts revising their earnings upwards for the upcoming period, and the company is expected to see net income growth this year. Moreover, Dynatrace's stock has been highlighted for its low price volatility, offering a sense of stability for investors.

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This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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