Schneider Electric included on Fortune’s annual Change the World List
- Schneider Electric retains spot amongst Top 50th
- Recognition is testament to Schneider Electric’s long-standing commitment to sustainability and climate-positive action throughout its business ecosystem
Schneider Electric, the global leader in the digital transformation of energy management and automation has been announced as part of the 2021 Fortune Change the World List, a global ranking of the top 50 companies making positive social or environmental impact through activities integral to their core business strategy and operations. Schneider Electric retains its spot amongst top 50th on the list in recognition of its efforts to drive change within its business ecosystem as part of the company’s ongoing sustainability efforts. Schneider Electric’s inclusion by Fortune comes on the heels of its recognition in February as the World’s Most Sustainable Corporation by Corporate Knights Global 100 Index.
Stepping up actions for sustainability
On the back of the recent United Nations (UN) Intergovernmental Panel on Climate Change (IPCC) and in the lead-up to COP26, it is evident that the journey towards a climate positive and inclusive world requires stronger collaboration from corporations, partners, suppliers to the government.
As an industry pioneer in leading sustainability efforts 15 years ago, Schneider Electric has continued its long-standing leadership in the sphere of Environmental, Social and Governance (ESG) by launching its 2021 – 2025 sustainability impact program in early 2021. Designed to accelerate the delivery of concrete results aligned to each of the United Nations Sustainable Development Goals, this aligns with six long-term commitments on climate, resource efficiency, principles of trust, equal opportunities, harnessing the power of all generations, and empowering local communities.
Fortune’s inclusion of Schneider Electric on this year’s list is testament to its commitment to reach 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 from indirect activities across the value chain, including suppliers. In addressing this, Schneider Electric launched The Zero Carbon Project in 2021 to support its top 1,000 suppliers — representing 70% of Schneider Electric’s supplier’s emissions — in halving carbon emissions by 2025. In just six months, the group registered 91% of its top suppliers who will take advantage of Schneider Electric’s experience and expertise alongside trainings, tools and climate solutions.
Acting for a climate positive world
Testament to demonstrating its unwavering commitment to sustainability even during the pandemic, the common goal has always been to fight climate change, help the world lower CO2 emissions, in aims of keeping the rise in average global temperatures to at or below 1.5° C above pre-industrial times.
Alongside Schneider Electric’s engagements of reducing its customers emissions, this commitment has been demonstrated by 263 million tons of CO2 emissions saved and avoided since 2018. By the end of 2025, the company is also set on key targets including saving and avoiding 800 million tons of CO2 emissions, and providing access to green electricity to 50M people.
While reaching climate change goals requires momentum building for a new generation of innovative solutions, it is imperative for corporations, investors and the government to shift away from reliance on novel business models and policy innovation alone. Bridging this gap in the industry, Schneider Electric has been creating business value by partnering and investing in climatech innovation to increase electrification while accelerating the clean energy transition, electric vehicles powered by digitalization.
Evident with the company’s work with organizations such as Enel, Italy’s largest electricity distributor, exemplifies Schneider Electric’s aspiration to promote renewable energy adoption for cleaner power generation and more stable electric grids.
With new solutions requiring the mindset and agility of a start-up are needed in these fast-moving markets and to build an open innovation ecosystem, Schneider Electric is committed to making sustainability a reality for all as the company accelerates forward.
Fortune’s annual list ranks companies on four criteria: measurable social impact; business results; degree of innovation; and corporate integration. They develop the list in collaboration with the Shared Value Initiative with Fortunes editors selecting the final list and rankings based on the magazine’s reporting and analysis.