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Notable progress made with climate solutions, circularity initiatives and energy access programs
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Acceleration of sustainable supply chain activities expected in the second half of the program
HONG KONG SAR – Media Outreach – August 8, 2023 –
Schneider-Electricthe leader in digital transformation of energy management and automation, today released details of its
quarterly sustainability impact performance, alongside its half-year financial results.
At the end of this quarter, the company is halfway through its environmental, social and governance (ESG) program covering the period 2021-2025. By measuring and reporting progress every few months, Schneider Electric ensures a consistent company-wide focus on achieving the program’s 11 global goals and nearly 200 local goals.
The first two and a half years of the program have been marked by a substantial expansion of its initiatives to provide access to clean and reliable energy, particularly in India. Steady impact revenue growth and continued efforts to save and avoid customer CO2 have also contributed to the progress made so far.
Following the structuring and deployment of leads related to supply chain engagement, results are starting to show on sustainable packaging and materials and reducing emissions from key suppliers. With the addition of its Decent Work Initiative, Schneider Electric plans to accelerate its overall sustainable value chain efforts going forward.
“OUR sustainability impact initiatives are transformative, not quick wins. While some need more time to ramp up, we expect them to produce significant results in the second half of the program,“said Gwenaelle Avice-Huet, Chief Strategy & Sustainability Officer of Schneider Electric.With only two and a half years left to achieve our climate and social ambitions, we must remain focused and mobilized to live up to our impact business principles: doing good to do good, and vice versa , and also involve everyone in this journey.”
Main ESG highlights of the second quarter:
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Received 11 iF Design Awards for our products dedicated to energy efficiency and circularity,
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Ranked #1 on the Gartner Supply Chain Top 25 for 2023 after eight consecutive years on the list,
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Partnering with governments and CEOs on the Versailles 10×10 action plan to double the rate of improvement in energy efficiency by 2030 at the International Energy Agency (IEA) annual global conference ,
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97.67% of shareholders supported Schneider Electric’s decarbonization plan during the first Say on Climate motion,
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Recognized by the 2023 Transparency Trophies, with a special prize for quality ESG information,
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Certified by the Fair Wage Network to ensure that all employees are valued and compensated fairly for their work.
At the end of the quarter, the overall Schneider Electric Sustainability Impact (SSI) score stood at 5.28, on track to meet the 2023 year-end target of 6 out of 10.
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The issuer is solely responsible for the content of this announcement.
