Orange (ORAN) and Cisco Sign MoU to Reduce GHG Emission
Orange S.A. ORAN subsidiary, Orange Business and Cisco have teamed up through a Memorandum of Understanding (MoU) to minimize their greenhouse gas (GHG) emissions.
The collaboration will enable both companies to share data and work toward their net zero emission goals. They plan to establish a baseline for GHG emissions from Orange Business Solutions incorporating Cisco products, which allows them to track emissions across their joint portfolio.
The MoU includes a number of key focus areas that the companies will work on. It includes developing GHG emissions trajectories, estimating the carbon impact of products and services, promoting circular economy practices, and integrating eco-design principles into future solutions.
Orange Price and Consensus
Orange price-consensus-chart | Orange Quote
Compared with the 2020 baseline, Orange plans to reduce its GHG emissions by 45% across all scopes by 2030 and commits to reaching net zero by 2040. Both companies are committed to ambitious net zero targets and plan to reduce emissions and transition to a circular business model.
Compared with Cisco’s baseline fiscal 2019, Cisco has set targets to cut absolute Scope 3 emissions by 30% by 2030 from the usage of sold Cisco products, upstream transportation and distribution, and acquired goods and services. In addition, the company aims to achieve net-zero GHG emissions throughout its value chain by 2040.
Both companies have previously collaborated on sustainability initiatives such as optimizing energy consumption in smart office solutions and reducing environmental impact through innovative technologies like the Flexible SD-WAN "One Box."
Orange Business Services is a global digital services provider that offers a range of services, including networking, cloud, cybersecurity and unified communications to businesses of all sizes. The company is a subsidiary of Orange S.A., one of the world’s leading telecommunications carriers with a presence in 26 countries.
At present, ORAN carries a Zacks Rank #3 (Hold). Shares of the company have gained 1.3% against the sub-industry’s decline of 4.2% in the past year.
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Stocks to Consider
Some better-ranked stocks worth considering in the broader technology space are Cadence Design Systems CDNS, Woodward WWD and Watts Water Technologies WTS. Cadence and Woodward sport a Zacks Rank #1 (Strong Buy), while Watts Water Technologies carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Woodward’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 27.2%. Shares of WWD have gained 37.9% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies fiscal 2024 EPS has improved 1.3% in the past 60 days to $8.44. WTS’s long-term earnings growth rate is 7.8%.
WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 13.5%. Shares of WTS have soared 13% in the past year.
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