Schneider Electric Achieves Record Sustainability Impact Score in 2023

Schneider Electric Achieves Record Sustainability Impact Score in 2023

(IN BRIEF) Schneider Electric, a global leader in energy management and automation, has announced its exceptional sustainability performance for 2023 alongside its annual financial results. Surpassing expectations, the Schneider Sustainability Impact (SSI) score reached 6.13 out of 10, exceeding the year-end target of 6, and positioning the company as a top performer in independent environmental, social, and governance (ESG) ratings. Despite facing the challenges of record-high temperatures, Schneider Electric has demonstrated significant progress in reducing carbon emissions, advancing supply chain sustainability, and promoting energy access initiatives worldwide. With a strong commitment to sustainability ingrained in its business strategy, Schneider Electric is poised to accelerate its positive impact in the years ahead.

(PRESS RELEASE) RUEIL-MALMAISON, 15-Feb-2024 — /EuropaWire/ — Schneider Electric, the leader in the digital transformation of energy management and automation, announced today its 2023 sustainability impact performance as part of its full-year financial results. The Schneider Sustainability Impact score for the year exceeded expectations, reaching 6.13 out of 10, and surpassing the year-end target of 6 out of 10. Schneider Electric was also recognized as a top performer by independent environmental, social, and governance (ESG) ratings throughout the year.

Schneider Electric’s strong performance spans what was the hottest year on record – serving to highlight the importance of collective action to decarbonize business operations and value chains to avoid the worst effects of global warming and accelerate the transition to a cleaner, fairer world.

Three years into the Schneider Sustainability Impact (SSI) program, Schneider Electric solutions for electrification, digitalization, and automation continue to lower the carbon emissions of customers, with 112 million of tonnes saved and avoided in 2023 alone. Great strides have also been made in transforming Schneider Electric’s supply chain. Carbon emissions from Schneider Electric’s top 1,000 suppliers have fallen by 27% — significant progress compared to the 10% reduction achieved in 2022 — and 21% of the company’s most strategic supply chain partners have met Schneider Electric’s decent work standards.

Efforts across the company to act responsibly with resources mean 63% of Schneider Electric’s product packaging is now free of single-use plastic and made of recycled cardboard. The company’s long-standing commitment to close the energy access gap has also advanced at pace, with 46.5 million people now accessing clean and reliable electricity thanks to Schneider Electric initiatives around the world, and more than 578,000 people learning new skills to address the future energy needs of their communities.

“Schneider Electric’s holistic approach to sustainability ensures that environmental, social, and governance considerations are integral to our business strategy and operations,” said Agustin Lopez Diaz, Chief Sustainability and Customer Satisfaction & Quality Officer at Schneider Electric. “We care deeply about the impact we have throughout our ecosystem and the legacy we leave behind us. That’s why we’re determined to accelerate our sustainability program in its penultimate year and bring everyone along for lasting, positive impact.”

On the external ESG rating front, Schneider Electric has maintained its status as a sustainability leader in the Dow Jones Sustainability Index (DJSI) and in Corporate Knights’ list of Global 100 Most Sustainable Corporations in the World for the 13th year running, and obtained high scores from Moody’s Analytics, CDP, and EcoVadis with a Platinum medal.

All of these achievements feed into the company’s short and long-term pay incentive plans, underlining the company’s commitment to sustainable performance.

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SOURCE: Schneider Electric