ESG strategy - Frequently Asked Questions

Schneider Electric’s short-term sustainability roadmap for 2025 is built on a consultation process involving external and internal stakeholders, called a materiality assessment, as well as dedicated internal governance mechanisms involving the Strategy & Sustainability team, employees, experts in the Group, the Executive Committee, and the Board of Directors, under the leadership of the Chief Strategy & Sustainability Officer. In the medium (5-10 years) and long term (10-30 years), Schneider Electric aligns its strategy on key issues under the United Nations Sustainable Development Goals and global climate scenarios in coherence with its business model and global footprint.

The results of Schneider Electric’s 2020 materiality matrix showed that the most material topics for the Group are:

1. Leading climate action in our ecosystem with our partners;
2. Pioneering circular economy and being efficient with resources;
3. Ensuring a fair transition and guaranteeing high ethical, social, and environmental standards along more local value chains;
4. Leveraging digital in cyber secure solutions to boost the positive impact.

To cover all these priorities, Schneider Electric defined 6 long-term commitments (Climate, Resources, Trust, Equal, Generations, and Local) and our 2021-2025 Schneider Sustainability Impact and Schneider Sustainability Essentials programs to measure progress against them. 

Our Schneider Sustainability Impact (SSI) is a scorecard demonstrating that rapid, disruptive changes for a more sustainable world are possible across diverse, complex topics. We are committed to taking urgent action to co-create a brighter future aligned with the United Nations Sustainable Development Goals (SDGs), consisting of 17 objectives and measuring our impact with transparency. The SDGs are about protecting the planet, alleviating poverty, and achieving worldwide peace and justice.

Since 2005, we have updated our SSI every three years. By tracking our sustainability performance and publishing quarterly results, we uphold our commitments to the SDGs and industry leadership in corporate social responsibility. Beyond our SSI, we also instill a culture around sustainability through performance incentives for employees and leadership.

Find out more about our contribution to all SDGs.

As part of its Extra-Financial Performance Declaration, the Group presents the main risks and opportunities identified with respect to major societal challenges. To compile the list of risks for the Group every year, a panel of both internal and external tools is used to address the expectations of its stakeholders as best as possible. The Group Sustainability team leads the evaluation, working in close collaboration with the Group Risk Management function and with the Duty of Vigilance Committee.

The Group’s corporate governance bodies supervise the development of internal control and risk management systems. The Audit & Risks Committee has particular responsibility for following up on the efficiency of internal control and risk management systems and reports to the Board of Directors.

Internal tools:

• A regular stakeholder consultation (materiality assessment and matrix), at least once every three years (last exercise done in 2020);
• The Group risk matrix, led by the Group Risk Management function, updated every year;
• Specific committees (Carbon, Human Resources, Ethics, etc.);
• Vigilance risks matrix.

Continuous monitoring of external signals and international frameworks:

• Regulatory framework: the key topics listed under Article R. 225-105 of the French Commercial Code (Extra-Financial Performance Declaration);
• International institutions/organizations (United Nations Global Compact and SDGs);
• Environment, Social, and Governance (ESG) rating agencies;
• Specific requests from investors and customers;
• Recommendations from the Task Force on Climate-related Financial Disclosures (TCFD), and various frameworks (SASB, GRI, etc.).

Each topic is monitored by the relevant departments and their management teams, or “Risk Overseers”, who are in charge of proper risk assessments and the implementation of mitigation and prevention actions.

Overall, the different governance bodies involved in the definition and monitoring of our Sustainability roadmap and programs (Schneider Sustainability Impact, SSI) are in charge of defining strategic mitigation programs in response to the risks and opportunities identified. Strategic programs defined at Group level are then cascaded into business divisions down to the sites for implementation. Each program of the SSI has a dedicated pilot in charge of driving the transformation and is sponsored at the Senior Vice President and Executive level to ensure management control and oversight.

Where appropriate, opportunities for growth are identified and translated into new products (for instance our unique SM AirSeT™ switchgear to avoid using SF6, or the creation of our new Sustainability Business). 

Universal Registration Document 2021 - page 81 to 88

As a world corporate leader in sustainability, we believe that what makes Schneider Electric stand out today and tomorrow is that it is an Impact company through 5 guiding principles:

1. Performance: we are convinced that to do good, we need to do well, and vice-versa. Our sustainability and business impacts converge to act for a climate-positive and socially equitable world.
2. All stakeholders: we seek to address the needs of all stakeholders in its ecosystem, from employees to supply chain partners, customers, as well as local communities, and institutions.
3. All ESG: to deliver sustainability in our entire value chain, we must combine a solid profitability with leading practice on all Environmental, Social, and Governance dimensions.
4. Business: we have integrated sustainability at the heart of our business strategy to be the digital partner for sustainability and efficiency for all partners.
5. Model & Culture: the company’s operating model is set up to impact on all of the above at global and local levels. Our culture builds on strong and practiced values with the right talent and processes to be a leading purpose-led company.

Universal Registration Document 2021 - page 24 to 25

Schneider Impact revenues are defined as offers that bring energy, climate, or resource efficiency to our customers, while not generating any significant harmful impact to the environment. Schneider Electric’s Impact revenues are split into four categories described thereafter. Activities included are:

1. Energy efficiency architectures bringing energy and/or resource efficiency to customers. Offers include building management systems, power management systems, lighting and room control, thermal control, variable speed drives, Energy and Sustainability Services (ESS), and industry automation. Neutral technologies such as signaling, racks and enclosures, access control, or emergency lighting are excluded;
2. Grid reinforcement and smart grid architectures contributing to electrification and decarbonization. This includes all technologies and architectures contributing to a New Electric World, helping grid and electrification come to life: smart grid and microgrid technologies, EV charging infrastructures, medium voltage systems to upgrade electricity distribution networks, low voltage connectable offers enabling smart grid management and energy efficiency, secure power and switches that enable security, and security of supply;
3. Products with differentiating green performance, flagged thanks to our Green Premium^TM program. Green Premium products offer environmental transparency (with digital life cycle analysis and circular end-of-life instructions), superior compliance to stringent environmental regulations, and differentiating performance on climate, resources, or health (note: double-accounting with categories 1 or 2 is removed);
4. Services that bring benefits for circularity (prolonged asset lifetime and uptime, optimized maintenance operations, repair, and refurbish) and energy efficiency (to maintain operational performance of equipment and avoid a decrease of energy efficiency over time).

Revenues derived from activities with fossil sectors and others are excluded, including Oil & Gas, coal mining, and fossil-power generation, in line with prevailing corporate responsibility reporting and sustainable finance practices, even though Schneider Electric’s technologies deliver resources and carbon efficiency in such sectors as well. In line with Schneider Electric’s strategy to phase out SF₆ from offers by 2025, SF₆-containing switchgear for medium voltage applications are also excluded. In addition, neutral technologies such as signaling, racks and enclosures, access control, or emergency lighting are excluded.

All revenues consolidated in financial accounts are taken into account. The calculation is based on revenues per line of business. The exclusion of fossil revenues is based on orders per customers’ end segment, with extrapolation to estimate the destination of transactional sales.

Schneider Electric has been an early adopter of transparent disclosures on sustainable revenues, and created its own methodology of “Impact revenues” in 2019, covering offers that bring environmental efficiency to its customers, while not generating any significant harmful impact to the environment, and excluding revenues from carbon-intensive segments. Recently, the European Union (EU) has shown international leadership by being the first to develop a Regulation and Taxonomy aiming at driving investments towards environmentally sustainable activities, which the Group applauds. Both methodologies are somewhat aligned but currently differ in the scope of eligible activities, and in end-segments exclusions. The Group is supportive of a better alignment over the next years to provide its multinational stakeholders with standardized metrics and empower them to shape a more sustainable future for all.

Universal Registration Document 2021 – page 68 to 71

The methodology for calculating Taxonomy-eligible turnover, Capital Expenditure, and Operational Expenditure is detailed in the Group’s annual report. In a nutshell, regarding revenues, two main approaches are used:

• An offer-based (by nature of technology) approach, whereby workshops are conducted with offer management teams for each line of business to define whether products are in line with the definition of economic activities included in the EU Climate Delegated Act. For example, Building Management Systems (BMS) generally include energy efficiency systems, which are Taxonomy-eligible, and fire safety and access control systems, which are not. In this example, the analysis enables to account only for energy efficiency systems installed as part of a BMS.
• An end-segment-based approach, whereby commercial teams indicate for each product line the amount of revenues generated from Taxonomy-eligible end-segments (Green Transport and Renewables mainly). Double-counting between offer-based approach and end segment-based approaches are removed before consolidation.

Universal Registration Document 2021 – page 216 to 217

Schneider Electric is regularly top-ranked by many ESG rating agencies. For instance, in 2021 the Group obtained a CDP Climate Change A rating and was included in the Dow Jones Sustainability Index, both for the 11^th year in a row. The Group is also part of Euronext Vigeo World 120, Europe 120, Eurozone 120, and France 20 indices. Schneider Electric obtained an Ecovadis Platinum medal (top 1%), is rated AAA by MSCI and Low risk by Sustainalytics. In January 2022, Schneider Electric has also been named the #4 World Most Sustainable Corporate according to Corporate Knights Global 100.

Universal Registration Document 2021 - pages 90 to 91

The execution of the Group’s 2021-2025 sustainability strategy is tracked through quantitative Key Performance Indicators (KPIs), under two complementary tools: Schneider Sustainability Impact (SSI) and the new Schneider Sustainability Essentials (SSE).

Another tool called Schneider Sustainability External and Relative Index (SSERI) measures the Group’s performance in 4 independent ESG ratings.

The numerous awards received (e.g. #1 Most Sustainable Corporation, RE100 Clean Energy Trailblazer, Financial Times top 50 Diversity Leaders, Gartner Supply Chain Top 25, etc.) and the Group’s leadership in the main ESG indices (e.g. Dow Jones Sustainability World Index, Euronext Vigeo Eiris World 120, etc.), confirm that Schneider Electric is headed in the right direction.

Read our reports to see our performance through the years

The SSI is the translation of our 6 long-term commitments into a selection of 11 highly transformative and innovative programs. Program results are published quarterly, audited annually, and linked to short-term incentive plans for the managers of the Group. A notable addition to the SSI in 2021 is the local aspect, aiming to deploy local actions in the 100+ markets where the Group operates in order to better empower all leaders and collaborators to unlock meaningful local impacts.

Another tool has been created to maintain a high level of commitment and transparency in the actions taken by the Group: the SSE. This new tool brings balance between the innovative transformation plans of the SSI and the need to keep progressing on other long-lasting programs. In that spirit of continuous improvement, and in a holistic vision of sustainability, the SSE tracks annual progress with 25 quantitative KPIs, and some additional qualitative programs. Collectively, the SSI 11 Global Impacts and its Local Impact, as well as the 25 SSE programs, are the Group’s short-term sustainability roadmap and our contribution to the 17 UN Sustainable Development Goals.

Yes, annual short-term incentives for the Group’s executives and about 64,000 eligible employees are linked to the Schneider Sustainability Impact (SSI) performance since 2011. From 2019, the weight of the SSI criteria has increased from 6% to 20% in the collective part of the annual incentive, highlighting further the importance of ESG on Schneider Electric’s business agenda. In France, since 2012, the SSI has also been included in the profit-sharing incentive plan for the French entities, Schneider Electric Industries, and Schneider Electric France. The reduction in the occupational accidents severity rate is also considered in the profit-sharing incentive plans of 24 other French entities.

Universal Registration Document 2021 - page 183

The Schneider Sustainability External and Relative Index (SSERI) measures the long-term sustainability performance of the Group in terms of relative performance, through a combination of external indices which cover a range of environmental, social, and governance indicators wider than and different from the Schneider Sustainability Impact (SSI). The SSERI weighs 25% of the long-term incentives (LTI) performance criteria for about 3,000 Group leaders.

Using external indices ensures that the sustainability priorities governing the assessment of the long-term sustainability performance of the Group are at all times those which matter the most to the stakeholders.

As their content is dynamic and includes new and more relevant topics as they emerge, it forces participants to constantly anticipate the most demanding trends in global sustainability. The Board has selected some of the most challenging external indices which are objective, recognized, and independent, covering main geographies in line with the Group’s global footprint and which complement each other as they cover different sustainability dimensions:

• DJSI World which covers three dimensions: economic, environmental, and social;
• Euronext Vigeo which covers environment, community involvement, business behavior, human rights, corporate governance, and human resources;
• EcoVadis which covers four dimensions: environment, labor and human rights, sustainable procurement and ethics; and
• CDP Climate Change representing a major reference for climate change leadership globally.

Yes. Our TCFD correspondence table can be found page 220 to 223 of our 2021 Universal Registration Document. Likewise, a SASB correspondence table is provided page 218 to 219. You can find more details in our reports.

Universal Registration Document 2021 - page 218 to 223

Discover our Sustainability Disclosure Dashboard

As a global specialist in the digital transformation of energy management and automation, the Group places its expertise and solutions at the service of its customers to ensure that energy is safe, reliable, efficient, connected, and sustainable. The Group proposes an integrated offering of technologies and market-leading solutions tailored to customer needs, promoting the transition towards more electric, digital, decarbonized, and decentralized energy. Due to its business model, Schneider Electric is therefore uniquely positioned among the 1,000+ companies taking action for climate change because it acts on both sides of the equation:

• The solutions Schneider Electric brings to the market are directly linked to activities to mitigate, adapt, and improve humanity’s resilience to climate change;
• At the same time, Schneider Electric acts to reduce its end-to-end CO₂ supply chain by 2050, with precise steps for 2025, 2030 and 2040

To demonstrate this positive impact, a new Schneider Sustainability Impact indicator was launched in 2018 to quantify CO₂ savings delivered to customers through the use of Schneider offers (Scope 4). The Group is committed to helping customers save and avoid 800 million tonnes of CO₂ by 2025 and already achieved 347 million tons of CO₂ in 2021.

The methodology allows to quantify CO₂ saved and avoided by the Group’s solutions at its customers’ premises. Saved CO₂ emissions correspond to brownfield sales (retrofit project) that enable reduction of global CO₂ emissions compared to previous years and avoided CO₂ emissions correspond to greenfield sales (new infrastructure) that enable a limitation of the increase of global emissions. Avoided and saved emissions are net emissions, they are the difference between emissions of a reference scenario and emissions with the implementation of Schneider Electric’s offer.

Detailed calculation rules are defined per offer, leveraging sales data, market expertise, and technical knowledge. The methodology is designed to become a shared industry standard; its principles are applicable across capital goods and consumer durables sectors. The methodology is public and was developed with an expert CO₂ accounting consulting company, Carbone 4, and the calculation is audited every year as part of the extra-financial audit.

Our mission is to be the digital partner of our customers for sustainability and efficiency allowing them to reduce their CO₂ emissions in buildings, in data centers, across smart grids, industries, and in homes. For years, we have continuously developed and reinforced a full offer for an all-digital, all-electric world. By combining digital and electric solutions and services, we deliver a unique efficiency value proposition based on four dimensions of integration:

• Firstly, we enable integration of energy and automation for energy and resource efficiency.
• Secondly, we connect everything from end-point to the cloud, making every installation transparent and the data available to all those who need it, from operators to the control room.
• Thirdly, based on a fully integrated suite of software and digital twins, we enable the integration of an installation’s life cycle across all phases, from design and build, to operate and maintain.
• And finally, digitization allows us to connect and manage companies across sites to reach new levels of enterprise-wide efficiency. 
  

Schneider Electric’s Sustainability Business (SB) helps the world’s leading companies on climate, from strategy setting to execution:

• Strategize: SB consultants help companies measure their environmental impacts, create a decarbonization roadmap, structure their program & governance and communicate on commitments.
• Digitize: Create a single-source-of-truth for energy and resource data management requires monitoring of resource usage and emissions, identifying saving opportunities and reporting on benchmark progress. This is achieved with Schneider’s digital platform and services (EcoStruxure™ Resource Advisor and Neo Network™).
• Decarbonize: Execute decarbonization strategy using four key levers: electrification of operations, reduction of energy use, replacing energy source and engaging the whole value chain. Schneider Electric’s robust portfolio of end-to-end net-zero solutions supports clients to deliver those levers. SB global team of experts helps our customers deploy these solutions to systematically achieve their decarbonization aspirations.

Universal Registration Document 2021 – page 43

Time for Climate Impact Disclosure

The process for designing a new Schneider Sustainability Impact program (SSI) includes a sustainability risks and opportunities assessment (including climate), which leads to the design of concrete transformation initiatives to align the company on the challenges identified. The risks and opportunities are then monitored and managed on a continuous basis. Several governance bodies are involved in this process, in particular the Board of Directors, the Executive Committee, the SSI Steering Committee and the Sustainability Department.

A dedicated Carbon Committee is in charge of continuously assessing climate-related risks and opportunities, steering the Group carbon pledge and proposing a strategy and management plan to the Group Sustainability Committee.

Additionally, environmental transformations are driven by a network of leading experts in various environmental fields such as eco-design, energy efficiency, circular economy, or CO₂. Environment leaders coordinate a network of more than 600 managers responsible for the environmental management of sites, countries, product design, and marketing.

Universal Registration Document 2021 – page 220

2021 Climate report

Climate Change has been clearly identified as crucial to both Schneider Electric’s internal and external stakeholders during the various materiality assessments that took place in 2014, 2017, and 2020. It is also one of the pillars of the Group’s Trust Charter.

Overall, transformations linked to climate change are a source of opportunities for Schneider Electric, the main risk being to fail to lead by example and thereby lose traction with customers, investors, new talents, and collaborators in the company.  At present, the impact of climate-related matters is not material to the Group’s financial statements.

Concrete climate-related programs to either grab opportunities, or mitigate risks are deployed every 3 to 5 years in our Schneider Sustainability Impact (SSI) and complement the Group’s Climate Pledge – our short-term (2025), mid-term (2030), and long-term (2040, 2050) objectives, aligned with a 1.5°C trajectory and validated by the Science Based Targets initiative (SBTi).

Universal Registration Document 2021 – pages 222

2021 Climate report 

Since 2018, Schneider Electric has built a scenario planning function and roadmap. This exercise led to the creation of several scenarios leading to 2040, developed following an inductive methodology approach. These scenarios include critical reviews of the geopolitical landscape, commodity and resources availability, economic and financial evolutions, climate sensitivity and evolving policies, energy transition pathways, and technology developments, among others.

The consequences on the energy transition are quantified, looking at 10 regions and a number of sectors individually, framing the business landscape in which Schneider Electric operates. Key findings are regularly cross-checked with new publications, particularly the ones from the International Energy Agency, among others, on a regular basis. Governance is in place, under the leadership of the Chief Strategy & Sustainability Officer, and this exercise is shared internally and used to inform strategic priorities across the business and operations.

Across all scenarios, a key takeaway is the dominant role of:

• Efficiency: a critical enabler for decarbonization, resiliency and security;
• Electrification: the world is becoming more electric, with 2x growth against other sources of energy;
• Digitization: with the increase in connectivity, complemented by real-time information and competitive computing capabilities, digital technologies play a major role in reaching decarbonization targets while augmenting economic productivity.

Based on these inputs and findings, and by estimating the financial impact such scenarios may have on the Group’s business (as risks or as opportunities), key development areas have been identified that allow to actively contribute to the low-carbon transition. These scenarios therefore heavily drive the Schneider Electric business strategy in terms of investments (R&D, incubation, efficiency), and enable it to develop its sustainability portfolio of offers.

Universal Registration Document 2021 – page 135

Back to 2050 scenarios paper

Schneider Electric updates its scope 1 and 2 carbon footprint annually, and scope 3 emissions annually or every three years (depending on the source of emission). Each year, an independent third-party verifier provides a limited assurance on all Scope 1, 2, and 3 CO₂ figures disclosed by the Group.

Thanks to Schneider Electric’s energy efficiency and renewable strategies, the Group has achieved significant CO₂ emissions reduction in absolute terms in 2021 versus 2017 baseline: scope 1 and 2 operational emissions have reduced from 699,079 tCO₂e to 294,051 tCO₂e, which is an absolute reduction of 405,028 tCO₂e, and a -58% decrease. Scope 3 emissions represent around 90% of the Group’s industrial carbon footprint (i.e. scopes 1, 2, and 3 upstream, as per the Greenhouse Gas Protocol, excluding use and end-of-life of products sold), mainly from the purchase of raw materials, equipment, and services to its suppliers.

Emissions produced, saved, and avoided by Schneider Electric’s products and services during their use phase and end-of-life are also quantified.

Universal Registration Document 2021 – page 230 to 231

2021 Climate report

Schneider Electric is a signatory of the Business Ambition for 1.5°C initiative aimed at setting greenhouse gas (GHG) emissions reduction targets in line with the global effort to limit warming to 1.5°C. Schneider Electric has four key milestones leading to net-zero by 2050.

• 2025: Through its Schneider Sustainability Impact program, Schneider Electric has committed to help its customers and partners save and avoid 800 million tonnes of CO₂ emissions thanks to its EcoStruxure solutions. Moreover, Schneider Electric operations (scopes 1 and 2) will be carbon-neutral by 2025 (including CO₂ offsets)
• 2030: The Group has committed to reduce its absolute carbon emissions across its value chain by 25% from 2021 baseline. Schneider has also committed to have “net-zero ready” operations (scopes 1 and 2), meaning the Group commits to reduce its operational carbon footprint by at least 90% (compared to 2017 base year) and will remove residual emissions.  This 2030 target is validated by the SBTi as part of a 1.5°C ambition and their Net-Zero Corporate Standard. To achieve these carbon reductions, the Group is actively engaging its suppliers to accelerate their climate strategy, sourcing lower-carbon materials, as well as improving the energy efficiency of its offers.
• 2040: The Group has committed to reach carbon neutrality across its full end-to-end footprint by 2040 (scopes 1, 2, and 3).
• 2050: Schneider Electric has committed to reach net-zero emissions across its value chain. This target was approved by the Science-Based Target initiative under the “Net-Zero Corporate Standard”. The Group will need to reduce absolute scopes 1, 2, and 3 GHG emissions by at least 90% from a 2021 base year and remove residual emissions.

 Universal Registration Document 2021 – page 223

2021 Climate report

At Schneider Electric, we strongly focus on reducing the emissions from our activities, with a comprehensive climate strategy that covers both our emissions from operations (scopes 1 and 2), and our indirect emissions (scope 3). In addition to the reduction targets we have, we are using CO₂ offsets as an intermediary step toward net-zero CO₂ emissions: by 2025 for instance, we will achieve carbon-neutral operations by reducing CO₂ emissions as much as possible, and we will purchase a volume of high-quality offsets that is equal to the volume of residual remaining emissions. To go further, we will achieve carbon neutrality along our whole value chain (scopes 1, 2, and 3) by 2040, again with CO₂ offsets covering residual emissions we have not been able to reduce.

For our supply in CO₂ offsets, we favor carbon solutions that:

• demonstrate evidence of removing atmospheric carbon dioxide on a lifecycle basis;
• are independently reviewed by our third-party scientific advisors and/or verified by standards;
• avoid and minimize environmental and social harm while supporting social equity and sustainability.

With our investment-based approach with Livelihoods Fund, we are long-term investors in CO₂ offset projects, to help scale up and professionalize the ecosystem of nature-based solutions for climate.  

Finally, we are transparent and follow the recommendations of GHG accounting standards as we disclose separately CO₂ emissions and CO₂ offsets.

On scopes 1 and 2: to get its operations to be “net-zero ready” by 2030 and reach at least 90% reduction of GHG emissions (from a 2017 base year), the Group has launched several transformations under the Climate and Resources commitments of its Schneider Sustainability Impact program (such as turning 150 sites into Zero-CO₂ by 2025). The Group leverages its Power and Building EcoStruxure™ IoT architectures to deliver these ambitions, monitor and optimize energy consumption, manage assets and grid infrastructure, manage distributed renewable energy resources and electricity load, monitor energy quality, and power electric vehicles. Between 2017 and 2021, this strategy has already delivered an absolute reduction of 405,028 tonnes of CO2e emissions on scopes 1 and 2 (from 699,079 tCO2e in 2017), which is a 58% decrease. 

On upstream scope 3: Schneider Electric is taking concrete actions to engage its suppliers to decarbonize. For example, the Group has set the ambition to engage 1,000 top suppliers to reduce their operational CO₂ emissions by 50% by 2025 with The Zero Carbon Project. In addition to that, the Group has committed to increase Green Materials in its products by 50% by 2025.

On downstream scope 3: Schneider Electric is making continuous improvements in the eco-design of products, allowing for higher energy efficiency (but also lower carbon-content in the product, thus lower upstream emissions). In addition to that, the portfolio of its Green Premium products that bring greater environmental value added is growing; finally, the proportion of services and software in revenue is increasing.

Schneider Electric’s climate targets combine ambitious reduction targets with residual carbon removals. Its 2030 and 2050 targets were approved by the SBTi in July 2022, under SBTi’s “Net-Zero Corporate Standard”.

To meet the targets, the Group favors carbon solutions that:

• demonstrate evidence of removing atmospheric carbon dioxide on a lifecycle basis;
• are independently reviewed by our third-party scientific advisors and/or verified by standards;
• avoid and minimize environmental and social harm while supporting social equity and sustainability.

With its investment-based approach with Livelihoods Fund, Schneider Electric is a long-term investor in CO₂ offset projects and has helped scale the ecosystem of nature-based solutions for climate.

SSI 2021 fourth quarterly results

2021 Climate report

Universal Registration Document 2021 – page 64 to 65 

RE100, EP100, and EV100 are business initiatives run as part of the We Mean Business coalition led by the Climate Group NGO. They aim, by inviting companies to join them, to grow corporate demand for renewable energy, energy productivity and electric transport, accelerating the transition to a zero-emissions economy, while helping leading businesses to reduce carbon emissions, be more resilient and increase profits.

Schneider Electric is part of initiatives the RE100, EP100, and EV100 initiatives and has set respective targets for 2030:

• Consume 100% renewable electricity (RE100): in 2017, Schneider Electric joined RE100 (Renewables 100) and committed to source 100% of its electricity from renewables by 2030, with an intermediary target of 90% by 2025. In 2021, the Group sourced 82% of its electricity from renewable sources, up from a starting point of 2% in 2017. To deliver its target, the Group leverages four complementary tools: green tariffs, renewable certificates, power purchase agreements, and on-site generation.
• Double energy productivity vs 2005 (EP100): the Group is a member of EP100 (Energy Productivity 100), a Climate Group initiative. Its target is to double energy productivity by 2030 against the 2005 baseline, meaning double the economic output from every unit of energy consumed within 25 years. In 2021, the Group achieved 76% energy productivity (against a 2030 target of 100%) compared to 2005.
• Switch to 100% electric cars (EV100): at the end of 2019, the Group committed to switching 100% of its corporate car fleet into electric vehicles by 2030, with an intermediary target of one-third by 2025. The Group demonstrates this commitment by being a member of EV100 (Electric Vehicles 100), a global initiative bringing together forward-looking companies committed to accelerating the transition to electric vehicles (EVs) and making electric transport the new normal by 2030. At the end of 2021, 7.7% of the Group’s corporate car fleet was comprised of EVs.

 Universal Registration Document 2021 – page 137 to 138

The Zero Carbon Project (TZCP) is the first step to decarbonize Schneider’s supply chain. Schneider Electric’s Executive leadership launched the initiative in April 2021, on the occasion of an all-digital global event, attended by the leadership of key supplier partners. The ambition of TZCP is to collaborate with 1,000 suppliers and reduce their operational greenhouse gas (GHG) emissions by 50% by 2025 (SSI #3).

The fundamental tenets of TZCP include:

• Quantifying GHG emissions;
• Targeting ambitious emission reductions;
• Implementing an action plan to achieve the targets.

The participating suppliers will be required to make public commitments for their reduction targets and share the emission reduction progress with Schneider. The participating companies cover more than 60 procurement categories from various regions, and vary in terms of carbon maturity and size. To adapt to this diversity, the participating suppliers are allowed a certain flexibility to customize their reduction plans by defining their own base year and baseline and adopt adequate reduction targets and time frames.

So far, more than 1,000 suppliers have committed to participate in the program. An initial survey of those suppliers showed that more than 70% of them have not yet quantified their GHG emissions, so an important part of the journey will be for them to develop a robust GHG accounting tool.

Universal Registration Document 2021 – page 140 to 141

Learn more about The Zero Carbon Project

The 2021 Trust Charter is the evolution of the Group’s Principles of Responsibility and sets out the expectations of how we work at Schneider and equip teams to confront any unethical behavior they might encounter.

To live up to the highest standards of corporate governance, the Trust Charter acts as our Code of Conduct and demonstrates our commitment to ethics, safety, sustainability, quality, and cybersecurity. Schneider Electric believes that trust is a foundational value. It is earned, it serves as a compass, showing the true north in an ever more complex world and Schneider Electric considers it to be core to its environmental, social, and governance (ESG) commitments.

As trust fuels empowerment, each section of the charter states clear do’s and don’ts and provides clear references to relevant policies and procedures, which are adapted to meet local legal requirements when necessary. This Code of Conduct applies to everyone working at Schneider or any of Schneider’s subsidiaries.

It is both an individual and collective responsibility to comply with and respect laws and regulations, to apply Schneider Electric policies, and to uphold strong ethical principles to earn trust at all times.

The Trust Charter was published in 2021 on Schneider Electric's internal and external websites and can be downloaded in 30 different languages.

In 2021, Schneider Electric has started to work on the second version of its Global Human Rights Policy, providing an update notably with the Company’s commitments regarding migrant workers and artificial intelligence. The full deployment is forecasted for the second quarter of 2022 including e-learning and training modules.

 Universal Registration Document 2021 – page 106 to page 108

Read our Human Right Policy

As stated in our Trust Charter and Anti-Corruption Policy, Schneider Electric is committed to complying with all applicable laws and regulations, such as the OECD’s Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, the US Foreign Corrupt Practices Act (FCPA), the UK Bribery Act, and the French Sapin II law.

Schneider Electric applies a zero-tolerance policy towards corruption and other unethical business practices and considers that “doing things right” is a key value-creation driver for all its stakeholders. We count on our employees and third parties to promote business integrity. For doing so, we must provide them with the tools to encourage them to act right.

Anti-corruption awareness is one component of the compliance program. We want to ensure that country leaders, managers, employees, and third parties are aware of our Anti-Corruption Code of Conduct. In 2020 and 2021, a set of anti-corruption e-learnings was built, providing guidance on real-life risk scenarios and is mandatory for 40,000 targeted employees exposed to corruption risks.

To allow specific alerts to be reported with a high level of confidentiality and to be dealt with at a high level, Schneider Electric relies on an online system called Trust Line available at all times. Employees and external stakeholders (suppliers, subcontractors, customers, business agents, etc.) can directly access the whistleblowing system through the Trust Line portal, which provides support to people if they are a victim/witness to a potential violation of the Trust Charter.

Note that the Anti-Corruption Compliance program is part of the Ethics & Compliance program.

In its Registration document, Schneider Electric reviews the risk matrix analysis, and some of the actions to mitigate these risks are described. For more comprehensive and complete information, the full vigilance plan of the Group is available as a standalone document and can be downloaded from Schneider Electric’s website.

Safety is a value on which Schneider Electric will not compromise, and this applies to Schneider Electric employees, customers, partners, and those working on their behalf. Safety is a pillar of the Trust Charter and it reinforces the Group’s commitment to providing a healthy and secure workplace for all.

The Safety and Occupational Health Policy establishes the commitment that Schneider Electric has made to maintaining safe and healthy working conditions, to fulfilling legal obligations, to engaging employees in safety processes, and to continually improving the health and safety program, and is the cornerstone of its certified Safety Management System.

In 2021, as part of its improvement efforts, Schneider Electric successfully achieved re-certification for ISO 45001 Safety Management System as part of a fully integrated management system certified through Bureau Veritas. This certification is in place for over 200 locations, including 176 manufacturing and logistics sites and the central office.

The Schneider Electric global safety strategy includes “S.A.F.E. First” at the core. Developed as a personal reminder to pause and reflect on safety before beginning any task, the program empowers employees to perform S.A.F.E. First checks and if “Unsafe? Stop Work!”. To ensure successful implementation of the strategy, annual Environmental, Health, and Safety (EHS) Assessments are performed in industrial sites worldwide.

Schneider Electric has been very successful in meeting goals for the reduction of workplace injuries and illnesses, including those injuries resulting in lost time days. Over the past 10 years, the Group has reduced the frequency of incidents (Medical Incident Rate, MIR) by 81% and the severity of incidents (Lost Time Incident Rate, LTIR) by 77%. As part of the Schneider Sustainability Essentials, the Group set a 5-year safety target to reduce the Medical Incident rate to 0.38. The MIR performance has reduced from the baseline of 0.79 in 2019 to the result of 0.65 in 2021, which represents 34% of the 5-year target. 2021 shows an increase of MIR versus 2020, which was an exceptional performance, impacted positively by the pandemic.

Schneider Electric, like other organizations with a similar global footprint and presence, is exposed to the risk of cyberattacks and data privacy breaches.

As an industrial and technology company, the Group has IT and Operational Technology activities spread over more than 25 sites, with dozens of R&D sites, and more than 200 production and logistic units. On those sites, Operational Technology systems are converging more and more with IT systems, especially through the use of Internet of Things (IoT) expanding the overall attack surface.

Additionally, the move from a product-centered business model to a service-oriented business model with software (e.g., digital offers like “Advisors” software suites or managed digital services) and augmented data naturally increases cybersecurity risks, such as data breaches and intellectual property theft.

This is why Schneider Electric has implemented several actions and processes to manage cyber threats:

• Cyber threats are mitigated by implementing cyber practices and capabilities, policy-driven controls, and enforcing mechanisms. For example, the Group implemented a Data Protection program, Source Code Management framework, and System & Solution security program.
• Global Cyber incident management and response process is in place. Events and incidents are monitored through a Security Operations Center, driven jointly with the Group’s partners. 99% of employees were trained on cybersecurity in 2021. Specific employee categories received mandatory trainings for risks linked to their activity.
• Multiple cyber risk assessments were completed in 2021 by the Group’s cybersecurity consulting partners. Furthermore, the Group is conducting regular crisis simulation exercises on different scenarios.
• Schneider Electric’s posture is continuously revisited and adapted through “reality checks”, including emergency and improvement plans across the Company and cyber scoring platforms.
• Independent “reality checks” were performed: three crosscutting internal audits and external assessments.

As part of the Trust pillar of its 2021-2025 sustainability strategy, Schneider Electric commits to be in the top 25% in external ratings for Cybersecurity performance (SSE #16).

The Energy Management and Industrial Automation sectors, like many others, are becoming more digital with pervasive IoT usage and augmented data being major accelerators for mobility, the cloud, pervasive sensing, big data, and analytics.

The digitalization of products, including native connectivity, is increasing the exposure to cybersecurity risk, where connected products and digital offers (e.g., remotely managed services like “Advisor”) at Schneider Electric or customers' sites could be used as a gateway for malicious cyberattacks.

Schneider Electric Exchange is an ecosystem collaboration platform with over 50,000 users, approximately 300 leverageable applications, more than 150 service providers, and around 100 communities. These types of digital offers and platforms, if compromised, could negatively impact a customer’s business and consequently affect the service quality, profitability, and reputation of Schneider Electric.

The Product & Systems Security Office (PSO) is reinforced with a strong mandate of developing products and securing the ecosystem in conformity with cybersecurity standards (such as the ISO 27000 suite and IEC 62443). As an illustration, the IoT Cloud Platform (EcoStruxure™ Technology Platform) has implemented controls that are mappable against the ISO 27001 standard.

Schneider Electric follows a Secure Development Lifecycle process to build cybersecurity into its products, even before the design stage. In 2019, security and privacy design were enhanced with a new Secure Development Lifecycle and certified to IEC 62443-4-1. Since 2020, all digital offers (mainly “Advisor” software suites) were assessed in the framework of digital security and privacy conformance.

Schneider Electric enforces digital security and privacy conformance for products, systems, software, platforms, applications, and digital offers through security reviews and, when applicable, the Digital Certification process.

Schneider Electric addresses cybersecurity vulnerabilities affecting products, software, and systems to support the security and safety of our customers. Schneider Electric works collaboratively with researchers, Cyber Emergency Response Teams (CERTs), and asset owners to ensure that accurate information is provided in a timely fashion to adequately protect customer installations. In case of a cyber incident, a process of response, connecting, and debriefing is organized with partners and customers.

Since 2004, the Group has been encouraging its suppliers to commit to a sustainable development initiative. Since 2012, Schneider Electric has wanted to place itself in a continuous improvement process as well as to follow up with its suppliers by requiring them to make progress according to the ISO 26000 guidelines.

This approach is strengthened by the General Procurement Terms and Conditions which all suppliers must abide by: each supplier undertakes to apply the principles and guidelines of the ISO 26000 international standard, the rules defined in the ISO 14001 standard. Sustainability is considered as part of the selection criteria.

Schneider’s strategy combines actions on large and deep coverage (multiple tiers), seeks to engage strategic & impacting suppliers, allows supply chain risks identification & prevention, and drives continuous improvement on four main pillars:

• Net-zero CO₂ emissions
• Decent work & Human Rights (Decent work program)
• Circular supply Chain
• Environment friendly

Universal Registration Document 2021 – pages 117 to 123

Read more details on our sustainable relations with suppliers

Schneider Electric’s overall aspiration to improve the lives of people everywhere in the world by developing sustainable energy solutions for its customers extends to its diversity, equity and inclusion (DEI) ambition. The Group’s Diversity Policy was first written in 2006.

The DEI and Well-Being strategy focuses on engaging and impacting the individual, the organization, and society at large, via three pillars:

• “Sustain You”: Schneider Electric is committed to making sure all employees feel safe to be their best selves in a culture that fosters trust, respect, and flexibility. Employees are empowered to prioritize their own well-being and mental health, invest in healthy ways of working, and role-model inclusive behaviors.
• “Activate Schneider”: Schneider Electric is committed to reflecting the diversity of the communities in which it operates. The Company continues its efforts to hardwire equity and inclusion at all stages of its Total Employee Experience, ensure fairness in people processes and policies, and foster a culture of care and inclusion at all levels.
• “Impact Society & Planet”: Schneider Electric is committed to driving change within its broader ecosystem and society at large, through advocacy and role-modelling. The Company works closely with its strategic partners and suppliers and invests in local actions through the Schneider Electric Foundation, with the goal of addressing systemic inequities and becoming a leader in corporate citizenship. Schneider Electric also engages in coalitions and partnerships to influence policy and play its part in building a society that embraces diversity, equity, and inclusion.

At the Group level, diversity and inclusion focus on five areas of diversity: Gender; Ethnicity and Nationality; Generation; People with disabilities and LGBT+.

While DEI is increasingly driven by local and regional regulations, with which the Group complies, other countries where Schneider Electric operates are encouraged to tackle additional DEI and well-being challenges specifically relevant to their markets and tailored to their local needs.

Schneider Electric’s Diversity, Equity & Inclusion

The Board of Directors pays due attention to its composition and that of its committees. It relies on the works of the Governance & Remunerations Committee which reviews regularly and proposes as often as required, the relevant changes to the composition of Board of Directors and its committees depending on the Group’s strategy.

In that respect, in conformity with its internal regulations, the Board of Directors ensures through its proposals and its decisions that:

• its composition reflects the international nature of the Group’s activities and of its shareholders by having a significant number of members of non-French nationality;
• it protects the independence of the board through the competence, availability, and courage of its members;
• it encourages open and unrestricted speech;
• it pursues its objective of diversifying the Board of Directors in compliance with the legal principle of attaining balanced representation between men and women on the Board;
• it appoints persons with the expertise required for developing and implementing the Group strategy while considering the objectives of diversity based on criteria such as age, professional skills, nationalities, and background;
• employee shareholders and employees shall continue to be represented on the board in compliance with the provisions set forth in Articles 11.3 and 11.4 of the Articles of Association; and
• it preserves the continuity of the Board by changing some of its members at regular intervals, if necessary, by anticipating the expiry of members’ terms of office.

The gender diversity ratio of the Board of Directors, should the appointment of Mrs. Nive Bhagat be confirmed in the 2022 Annual Shareholders' Meeting, will reach 45% (excluding the employee Directors and the representative employee shareholders Director).

Schneider Electric is deeply committed toward diversity in general and gender diversity in particular. Schneider Electric focuses on taking proactive measures to encourage a balanced representation of men and women at the leadership level: the portion of women at the Executive Committee had been increased from 38% in 2020 to 44% in 2021. For the leadership pool comprising of the top leaders (around 1,000 employees), the female representation is 26% (+2% vs. 2020).

At its meetings of December 15, 2021, and February 16, 2022, the Board of Directors reviewed senior management’s ambitions regarding the balanced representation of men and women at the leadership level and noted that the objectives are set to:

• at least 40% of women on the Executive Committee;
• at least 30% of women among the Leadership (VP and above, around 1,000 employees).

Universal Registration Document 2021 – page 281

In 2021, Schneider Electric renewed its commitment to gender balance with the 2021 – 2025 SSI gender balance KPI, 50/40/30 – women representing 50% of all new hires, 40% of frontline managers, and 30% of senior leadership by 2025. As of end 2021, women made up 41% of the hiring, 27% of the front-line management, and 26% of leadership teams.

At the leadership level, we focus on 30% representation because research has shown that 30% is the tipping point for diversity to have a real impact on teams. This approach is informed by critical mass theory, which takes its roots in physics, where a minimum ‘critical mass’ is needed to sustain a nuclear chain reaction. When it comes to diversity on teams, 30% has been identified as the critical mass number. To get to that level of representation in leadership, we need to build a strong pipeline for female talents to grow within the organization and access senior levels. This starts with a strong commitment to reaching gender balance in hiring and continues with efforts to promote and develop women internally.

Schneider Electric is also committed to removing the structural and social barriers hindering women’s career progression through a holistic strategy promoting gender equality in Science, Technology, Engineering and Math (STEM) and within the organization, and through targeted career development initiatives.

In 2019, the Company partnered with INSEAD to launch the Schneider Women Leaders’ Program (SWLP) – a global program with a common cause, enabling more women at their mid-career point to build the skills and confidence to step up their leadership capability and impact. Since its inception in 2019, more than 230 women have benefited from this targeted leadership development program.

In addition to SWLP, a new program called “How Women Rise” was launched for Schneider employees in several countries. Over the last couple of years, this leadership program has benefited more than 1,000 women.

Employee Resource Networks (ERNs) also play a large role in empowering women locally and helping drive efforts to advance women in leadership. As of the end of 2021, local ERNs have contributed to the Group’s efforts towards gender equality and inclusion in more than 40 countries.

Universal Registration Document 2021 – page 171

Well-being has been a strategic priority since 2015. Schneider Electric’s well-being ambition is to create an environment where employees are empowered to manage their unique life and work by making the most of their energy.

The holistic view of well-being (physical, mental, emotional, and social) and the joint effort between the Company, leaders, and employees, are key for the success of the program. The current strategy tackles three areas of impact:

• Overall Well-Being
• Mental Health
• New Ways of Working

2021 has shown how the expertise in well-being, gained in the past six years, has evolved and translated into an increase in internal demand for consulting to leaders’ teams to sustain and boost their performance.

Awareness and training are essential for this transformation. Back in 2020, Schneider Electric achieved its goal to reach 90% of employees having access to a comprehensive well-being at work program (including access to medical coverage and well-being training).

Employees have access to training in different topics such as new and smarter ways of working, the upside of stress, how to work in a hybrid world, mindfulness at work, energizing our people to perform, spotting the signs of mental health challenges, and using strengths to prevent burnout. For instance, in 2021, a global mental health campaign was organized during the month of October using the tagline “Mental Health Matters” with more than 10,000 employees worldwide participating in different activities and training and 300,000 people reached on social media with testimonies from our leaders.

Universal Registration Document 2021 – page 174 to 175

Schneider Electric’s Diversity, Equity & Inclusion

At Schneider Electric, the basic foundational principles of fairness, equity, ethics, and transparency are fully embedded in our values. Through reward policies and processes, employees are compensated fairly and equitably for the skill set they possess and value contributions as a business imperative. Over the past five years, proactive actions have been taken to not only close gender pay gaps, but to prevent new gaps from being created.

To ensure accountability and transparency, Schneider Electric conducts quarterly reviews of compensation, both at country and global levels, leveraging analysis from HR data, which covers all key drivers of the employee lifecycle from hiring, performance assessment, and salary adjustment to career moves. Focusing on this Pay Equity Ecosystem allows Schneider Electric to proactively create offers for new hires and promotions that do not create pay gaps. The global pay equity framework was implemented in all countries by the end of 2020, covering 99.6% of Schneider Electric’s total workforce.

Given the progress made on pay equity and to support our inclusion philosophy, starting in 2021 the focus on pay equity has gone beyond gender. The ambition to attain and maintain a pay gap below 1% by 2025 for both females and males has been included as part of the SSE #18 for 2021 – 2025. Our baseline as of the end of 2020 is -1.73% and +1.00% for females and males respectively. As of the end of 2021, the pay gap was -1.61% for females and 1.11% for males, on track with the target. Note that this measurement will differ from Country figures that may be required to be reported due to statutory requirements.

Universal Registration Document 2021 – page 182

Schneider Electric’s Diversity, Equity & Inclusion

In line with its Human Rights Policy and Principles of Responsibility, Schneider Electric believes earning a decent wage is a basic human right. Schneider Electric is committed to paying employees in the lower salary ranges at or above the living wage to meet their families’ basic needs. By basic needs, the Group considers food, housing, sanitation, education, healthcare, plus discretionary income for a given local standard of living.

In 2018, Schneider Electric started working with an independent advisor – Business for Social Responsibility (BSR) – to implement its living wage commitment. Schneider Electric has initiated a global process to analyze wage levels and employment practices against local living wage standards set by BSR. At the end of 2019, the analysis had covered 63 countries, reaching 99% of the Schneider Electric footprint. Moving forward into 2020, the COVID-19 crisis highlighted even more strongly the need for a safety net to guarantee a minimum income level for employees. Given the complexity to evaluate and mitigate the macroeconomic impact of the crisis, the Group did not run a gap analysis this year. In 2021, the new gap analysis covered 63 countries (representing over 99% of Schneider Electric's footprint globally). As of December 31st, 99.9% of in-scope employees, i.e. all Schneider employees treated as permanent workforce, were paid at least a living wage. Where living wage gaps were identified, corrective actions were taken to ensure that all employees are paid a living wage and no new gaps are created. In addition to guaranteeing that all in-scope employees are paid at least a living wage, Schneider continues to comply with all applicable federal, state, and local regulations regarding minimum wage requirements.

Universal Registration Document 2021 – page 185

Read the UN's article: "Ensuring a Living Wage is an Essential Aspect of Decent Work"

As of December 31, 2021, the employee shareholding represented 3.6% of Schneider Electric SE’s capital and 6.3% of the voting rights. 77% of the Group employee shareholders were located outside of France, of which 13% are in China, 15% in India, and 10% in the US. This also includes employee shareholding resulting from the long-term incentives grants. 

Schneider ensures that all employee benefits are locally and globally compliant, as well as market relevant. Because employee benefit plans vary significantly between countries due to different levels of social, tax, and legal regulations, Schneider Electric’s benefits portfolio is primarily country-driven and aims at providing similar benefits within a country territory.

Global benefit standards
Schneider Electric regularly reviews compliance with its global benefit policies and principles to ensure that its inclusive global benefit standards are delivered for everyone, everywhere. These standards cover healthcare, family leave, and life cover and are audited in the Schneider Sustainability Impact.

One of Schneider Electric’s underlying benefit objectives is to ensure all its employees are equipped to manage their basic health and well-being and to provide adequate security to employees and their dependents. The Company has a commitment to strive, at a minimum, that 90% of Schneider Electric’s employees have access to a comprehensive well-being at work program – translated into a dual standard of access to healthcare and well-being training programs. Access to an inclusive and comprehensive standard of healthcare coverage (outpatient, hospitalization, key health risks/chronic conditions, maternity, children) is defined by local regulations and employment agreements. Schneider Electric also supports its employees with personal time off at critical life stages and this is fully deployed in 100% of countries. In addition, the Group commits to provide financial security to employee dependents, in the event of an employee’s death, in the form of a minimum standard of life assurance coverage of at least a multiple equivalent to one year’s salary.

Global Family Leave Policy
As part of being a caring and responsible employer, Schneider Electric launched its global family leave policy along with care leave in 2017. With its industry-leading Global Family Leave Policy, Schneider Electric supports employees with personal time at critical life stages and empowers everyone to manage their “unique life and work” so that they can be at their best. While the Group’s countries have flexibility to define eligibility and policy details per statutory/market requirements, the policy sets global minimum standards:

• Fully paid parental leave (primary parent – 12 weeks, secondary parent – 2 weeks);
• Care leave (for sick/elderly relatives – 1 week); and
• Bereavement leave (1 week).

All benefits eligible employees have access to this global policy.

Employee Share Ownership
The World Employee Share Ownership Plan (WESOP) is one of the Group’s recurring key annual reward programs, offering employees across the world an opportunity to become owners of the Company, at preferred conditions.

Universal Registration Document 2021 – page 184 to 185

Schneider Electric launched its Access to Energy program in 2009, with a unique approach combining three dimensions that enrich each other:

• A training & entrepreneurship program aimed at developing skills in the electricity trades and supporting entrepreneurs in this area, in particular women, in order to promote sustainable and inclusive local development. 

• A social and inclusive business, with products and solutions for rural electrification (collective and individual, such as solar lanterns, solar home systems including Pay As You Go feature, solar water pumping systems, microgrids including plug and play containerized solutions, etc.), creating local jobs in distribution, energy services, agriculture, etc., and promoting in particular women’s empowerment.

• Impact investment funds to support local economies in gaining access to energy and reducing energy poverty.

The ambition of the Access to Energy social business is to connect an additional 20 million people between 2021 and 2025, and 70 million by 2030. 34 million people have already benefited from the Schneider energy access solutions between 2009 and 2021.

Universal Registration Document 2021 – pages 190 to 194