At the end of this quarter, the company is halfway through its Environmental, Social and Governance (ESG) program spanning 2021-2025. By measuring and disclosing progress every few months, Schneider Electric ensures a constant, enterprise-wide focus on meeting the program’s 11 global and close to 200 local targets.
The first two and a half years of the program were marked by substantial expansion of its initiatives to provide access to clean and reliable energy, notably in India. The steady growth of impact revenues and continued efforts to save and avoid customers’ CO2 emissions have also contributed to the progress made so far.
Following the structuring and deployment of tracks related to supply chain engagement, results are starting to show on sustainable packaging and materials and the reduction of top suppliers’ emissions. With the addition of its decent work initiative, Schneider Electric expects to accelerate its comprehensive sustainable value chain efforts from here on in.
“Our sustainability impact initiatives are transformative, not quick wins. While some require longer to ramp up, we expect them to deliver significant results in the second half of the program,” said Gwenaelle Avice-Huet, Schneider Electric’s Chief Strategy & Sustainability Officer. “With only two and a half years left to reach our climate and social ambitions, we need to stay focused and mobilized to live up to our impact company principles: doing well to do good, and vice versa, and bringing everyone along on this journey too.”
Key second-quarter ESG highlights:
- Received 11 iF Design Awards for our products dedicated to energy efficiency and circularity,
- Ranked #1 on the Gartner Supply Chain Top 25 for 2023 after eight consecutive years on the list,
- Partnering with governments and CEOs on the Versailles 10×10 action plan to double the rate of energy efficiency improvements by 2030 at the International Energy Agency’s (IEA) annual global conference,
- 97.67 per cent of shareholders supported Schneider Electric’s decarbonization plan in the first Say on Climate motion,
- Recognized by the 2023 Transparency Awards, with a special prize for high-quality ESG information,
- Certified by the Fair Wage Network for ensuring all employees are valued and compensated fairly for their work.
At the end of the quarter, the overall Schneider Electric Sustainability Impact (SSI) score came in at 5.28, on track to reach the 2023 end-year target of 6 out of 10.