Schneider Electric Maintains Sustainability Leadership with Top ESG Ratings
Schneider Electric, a leading force in revolutionizing energy management and automation, disclosed its sustainability impact for 2023 alongside its annual financial results. Surpassing expectations, the Schneider Sustainability Impact score for the year reached 6.13 out of 10, exceeding the targeted 6 out of 10. Notably, independent environmental, social, and governance (ESG) ratings consistently recognized Schneider Electric as a top performer throughout the year.
Despite facing the challenges of the hottest year on record, Schneider Electric's commendable performance underscores the crucial need for collective efforts to decarbonize business operations and value chains. This collective action is imperative to mitigate the adverse impacts of global warming and expedite the transition to a cleaner, more equitable world.
Now in its third year, the Schneider Sustainability Impact (SSI) program continues to yield impressive results. Schneider Electric's solutions in electrification, digitalization, and automation have significantly reduced customers' carbon emissions, with 112 million tonnes saved and avoided in 2023 alone. Moreover, substantial progress has been made in transforming Schneider Electric's supply chain, evident in a 27% reduction in carbon emissions from its top 1,000 suppliers, a marked improvement compared to the 10% reduction achieved in 2022. Additionally, 21% of the company's key supply chain partners now adhere to Schneider Electric's decent work standards.
Concerted efforts across the company have resulted in 63% of Schneider Electric's product packaging being free of single-use plastic and crafted from recycled cardboard. Furthermore, the company's longstanding commitment to bridging the energy access gap has made significant strides, with 46.5 million individuals now benefiting from clean and reliable electricity through Schneider Electric initiatives worldwide. Additionally, over 578,000 people have acquired new skills to address the future energy needs of their communities, further advancing Schneider Electric's mission.
“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.”
Regarding external ESG ratings, Schneider Electric continues to demonstrate its leadership in sustainability. It has retained its position as a sustainability frontrunner in the Dow Jones Sustainability Index (DJSI) and Corporate Knights' Global 100 Most Sustainable Corporations in the World list for the 13th consecutive year. Additionally, Schneider Electric has received commendable scores from Moody’s Analytics, CDP, and EcoVadis, earning a prestigious Platinum medal.
These accomplishments significantly contribute to the company's short and long-term incentive plans, emphasizing its unwavering dedication to sustainable performance.
Despite facing the challenges of the hottest year on record, Schneider Electric's commendable performance underscores the crucial need for collective efforts to decarbonize business operations and value chains. This collective action is imperative to mitigate the adverse impacts of global warming and expedite the transition to a cleaner, more equitable world.
Now in its third year, the Schneider Sustainability Impact (SSI) program continues to yield impressive results. Schneider Electric's solutions in electrification, digitalization, and automation have significantly reduced customers' carbon emissions, with 112 million tonnes saved and avoided in 2023 alone. Moreover, substantial progress has been made in transforming Schneider Electric's supply chain, evident in a 27% reduction in carbon emissions from its top 1,000 suppliers, a marked improvement compared to the 10% reduction achieved in 2022. Additionally, 21% of the company's key supply chain partners now adhere to Schneider Electric's decent work standards.
Concerted efforts across the company have resulted in 63% of Schneider Electric's product packaging being free of single-use plastic and crafted from recycled cardboard. Furthermore, the company's longstanding commitment to bridging the energy access gap has made significant strides, with 46.5 million individuals now benefiting from clean and reliable electricity through Schneider Electric initiatives worldwide. Additionally, over 578,000 people have acquired new skills to address the future energy needs of their communities, further advancing Schneider Electric's mission.
“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.”
Regarding external ESG ratings, Schneider Electric continues to demonstrate its leadership in sustainability. It has retained its position as a sustainability frontrunner in the Dow Jones Sustainability Index (DJSI) and Corporate Knights' Global 100 Most Sustainable Corporations in the World list for the 13th consecutive year. Additionally, Schneider Electric has received commendable scores from Moody’s Analytics, CDP, and EcoVadis, earning a prestigious Platinum medal.
These accomplishments significantly contribute to the company's short and long-term incentive plans, emphasizing its unwavering dedication to sustainable performance.
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