Schneider Electric remains among the top 50. This recognition is a testament to Schneider Electric’s commitment to sustainability and positive climate action across its entire business ecosystem
SchneiderElectric, a global leader in the digital transformation of energy management and automation, has been named part of the Fortune Change the World 2021 list, a global ranking of the top 50 companies that have a positive social or environmental impact through activities integrated into their core business strategy and operations. Schneider Electric retains its place in the top 50 on the list in recognition of its efforts to drive change within its business ecosystem as part of the company’s sustainability efforts. Schneider Electric’s inclusion on the Fortune list follows its recognition in February as a Corporate Knights Most Sustainable Company.
Boosting sustainability efforts
In the wake of the recent report from the Intergovernmental Panel on Climate Change and the United Nations, it is clear that the path to a climate positive and inclusive world requires greater collaboration from companies, partners, suppliers and governments.
As an industry leader that has had sustainability at the heart of strategy for 15 years, Schneider Electric has continued its long-standing leadership in the Environment, Social and Governance (ESG) arena by launching its 2021 – 2025 Sustainability Impact Program in early 2021. Designed to accelerate the delivery of concrete results aligned with each of the United Nations Sustainable Development Goals, this aligns with six long-term commitments on climate, resource efficiency, trust principles, equal opportunity, harnessing the power of all generations and empowering local communities.
Schneider Electric’s inclusion on this year’s list by Fortune is further evidence of its commitment to achieving carbon neutrality in its operations and for its suppliers and customers. For many companies, the largest and most difficult emissions to address are Scope 3 emissions, i.e., emissions from indirect activities throughout the value chain, including suppliers. To address this, Schneider Electric launched Project Zero Carbon in 2021 to support its top 1,000 suppliers – representing 70% of Schneider Electric’s supplier emissions – to halve carbon emissions by 2025. In just six months, the group signed up 91% of its top suppliers, who will leverage Schneider Electric’s expertise and know-how along with trainings, tools and climate solutions.
Working for an environmentally friendly world
As proof of its significant commitment to sustainability, even during the pandemic, the common goal has always been to fight climate change and help the world reduce CO2 emissions in order to keep the global average temperature increase at or below 1.5ºC.
Together with Schneider Electric’s commitments to reduce its customers’ emissions, this commitment has been demonstrated with 263 million tons of CO2 emissions saved and avoided since 2018. By the end of 2025, the company has also set key targets, such as saving and avoiding 800 million tons of CO2 emissions and providing access to green electricity to 50 million people.
While achieving climate change goals requires driving a new generation of innovative solutions, it is crucial that companies, investors and government stop relying solely on new business models and policy innovation. Bridging this industry gap, Schneider Electric has been creating business value by partnering and investing in climate innovation to increase electrification while accelerating the transition of clean energy, digitization-driven electric vehicles.
The company’s projects with organizations such as Enel, Italy’s largest electricity distributor, show Schneider Electric’s commitment to promoting the adoption of renewable energy for cleaner power generation and more stable electricity grids.
With new solutions that require the mindset and agility of a start-up are needed in these rapidly evolving markets and to build an open innovation ecosystem, Schneider Electric is committed to making sustainability a reality for everyone as the company accelerates forward.
About Change the World List
Fortune’s annual list ranks companies on four criteria: measurable social impact, business performance, degree of innovation and corporate integration. The list is developed in partnership with the Shared Value Initiative, and Fortune editors select the final list and rankings based on the magazine’s reporting and analysis.