Schneider Electric Partners with WageIndicator Foundation to Promote Global Living Wages

Schneider Electric Partners with WageIndicator Foundation to Promote Global Living Wages

(IN BRIEF) Schneider Electric, a leader in energy management and automation, has forged a three-year partnership with the WageIndicator Foundation to advance its living wage approach. This collaboration aims to make living wage data accessible worldwide, with the Foundation releasing the first public benchmark database covering 165 countries. By supporting this initiative, Schneider Electric emphasizes its commitment to ensuring that all its employees receive at least a living wage and extends this commitment to its suppliers. The company’s dedication to promoting living wages is underlined by its participation in the United Nations Global Compact Decent Work initiative and its certification by the Fair Wage Network for the second consecutive year. This partnership underscores Schneider Electric’s broader sustainability impact program and its call for global collaboration to promote fair wages and decent work.

(PRESS RELEASE) RUEIL-MALMAISON, 2-May-2024 — /EuropaWire/ — Schneider Electric, the leader in the digital transformation of energy management and automation, has advanced its living wage approach by entering a three-year partnership with the WageIndicator Foundation.

Living wage is the minimum renumeration for workers to cover their family’s basic needs and afford a decent standard of living, beyond minimum wage. Schneider Electric supports the WageIndicator Foundation, who published the first public benchmark database on May 1. This makes living wage data for 165 countries available to all. It will provide insights into wage practices globally and enable thousands of companies, including Schneider Electric and its suppliers, to make informed decisions toward the realization of living wages.

“In a world where one in three (or 1 billion) working people are estimated to earn less than they need to afford a decent standard of living, earning a living wage should be a basic human right”, affirms Gilles Vermot Desroches, Senior Vice President, Corporate Citizenship and Institutional Affairs, Schneider Electric. “As a company operating in over 100 countries, this commitment is manifested in our participation in the WageIndicator Foundation’s mission to make living wage information accessible to all wage earners.”

Since 2021, Schneider Electric has been a patron of the United Nations Global Compact (UNGC) Decent Work initiative and is committed to the targets of the UNGC Forward Faster initiative. The company ensures that 100% of its employees receive at least a living wage. In recognition of these efforts, it was certified by the Fair Wage Network for the second consecutive year in April 2024. Additionally, Schneider Electric’s Human Rights Policy and Trust Charter reinforce its dedication to creating a fairer society.

Schneider Electric’s commitment to living wages is not only reflected in internal policies, but also in external partnerships. The company has mandated that all strategic suppliers ensure decent work for their employees by 2025 (including a commitment to integrate living wages into their policies), as part of its comprehensive sustainability impact program (SSI #6). More broadly, Schneider Electric calls for all organizations working on this essential topic to continue to work together to facilitate access to robust data, clear methodologies, and adapted systems.

For more information, please view the WageIndicator Foundation’s press release.

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SOURCE: Schneider Electric