Schneider Electric Issues Urgent Calls to Accelerate Energy Transition
Schneider Electric issued an urgent call for governments and companies around the world to accelerate their sustainability action and step up investments into technologies that will help them reduce their carbon emissions and bolster their energy security.
January 17, 2023. By News Bureau
The call comes amid spiking energy prices, an energy supply crisis and fast accelerating climate change, which together pose major challenges for companies, economies and societies around the globe.
These challenges form the backdrop for the World Economic Forum’s annual meeting in Davos, Switzerland, from 16-20 January, which senior Schneider Electric executives will attend.
"Today’s climate and energy crises are an economic reality for ever-increasing numbers of people. As business leaders and policymakers come together at Davos, we must act in our own best long-term, not short-term, interests," said Jean-Pascal Tricoire, Schneider Electric’s Chairman and CEO. “We must not avoid the tough decisions. There can be no long-term prosperity without a complete energy transition. At Schneider, our approach is to ‘Digitize Strategize, Decarbonize’ - businesses, governments and societies must do this now, to make good on the commitments they have made."
With 38% of global CO2 emissions coming from the built environment, and a further 32% from industry, Schneider Electric’s products, software and services in the areas of industrial automation and energy management help companies, industries, building managers and households to decarbonize and digitize their energy usage.
An independent survey of more than 500 C-suite executives commissioned by Schneider last year found that corporate sustainability commitments and investments are often hampered by the complexity of decarbonization.
On average, the financial commitment to sustainability and decarbonization initiatives across the companies surveyed was less than 2% of projected revenue over the next three years - despite the fact such investments are often efficient and cost-effective, with return on investment often under one to three years.
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