Dynatrace Partners with Lloyds Banking Group to Measure and Manage Carbon Impact of IT Operations
Dynatrace, a leading unified observability and security company, has teamed up with Lloyds Banking Group, 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 partnership 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 identify high-impact areas for improvement. Leveraging the Dynatrace platform’s Smartscape topology and dependency mapping, the tool provides precise optimization insights, helping establish green coding practices.
Klaus Enzenhofer, Product Lead at Dynatrace, highlighted the refinement of the Carbon Impact app in collaboration with Lloyds Banking 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, emphasized the benefits of working with Dynatrace, stating that the collaboration has enhanced the bank’s ability to scrutinize IT carbon emissions. The partnership has enabled Lloyds to identify effective sustainability efforts within their IT architecture, vital for their goal to reduce direct operational carbon emissions by at least 75%.
This announcement comes at a time of increasing pressure on financial institutions to address climate change and reduce their environmental impact. Dynatrace’s Carbon Impact app represents a significant step forward in providing the necessary tools for businesses to understand and mitigate their carbon footprint within the IT sector.
Analysts are optimistic about Dynatrace’s financial future, with the company’s strong financial foundation. 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 demonstrates its stability. The company has also shown substantial revenue growth, with an increase of 24.67% over the same period.
With 26 analysts revising their earnings upwards for the upcoming period, Dynatrace 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.
*Disclaimer: This information is based on a press release statement.
Analyst comment
Positive news. Market analysts predict that with its partnership with Lloyds Banking Group to measure and manage carbon impact, Dynatrace is well-positioned to capitalize on the increasing demand for sustainable IT solutions. Analysts expect the company’s financial performance to improve, with upward revisions in earnings and potential net income growth. The low price volatility of Dynatrace’s stock provides a stable investment opportunity for investors.
