Time Magazine has named Schneider Electric as the World’s Most Sustainable Company for 2024. For its list, Time used data firm Statista to measure a “rigorous” method to determine which company is most sustainable. The magazine says, “The companies at the top of the list have signed on to some of the most respected climate programs, including the 1.5°C target from the Science Based Targets initiative (SBTi), and receive high scores from CDP (formerly the Carbon Disclosure Project).”
Other NAED-member companies on the list include Siemens at number 11, Prysmian Group at number 42, ABB at number 51, and Rexel at number 77.
Schneider’s overall score of 88.6 on the Time Magazine/Statista scale beat NEC Corp, which finished second, by more than 3 points. The magazine points out Schneider has, “not only set ambitious targets to reduce its own emissions—carbon neutral by 2025—but also helps its customers reduce emissions and become more energy efficient through its Sustainability Business. It has its own sustainability impact program to track its performance, and has also reduced emissions across its supply chain. Schneider has received a climate score of “A” from the CDP for 12 years in a row.”
“We are incredibly honored to be recognized as the world’s most sustainable company,” said Peter Herweck, CEO of Schneider Electric. “This achievement is a testament to our unwavering commitment to sustainability, which is embedded in everything we do. We consider the environment, society, and good governance in our decisions and daily operations. That’s why we’re pushing hard to make even more progress on our sustainability goals and ensure everyone contributes to creating a positive and enduring impact”.
Schneider Electric was also recently included in the Dow Jones Sustainability World Index for the 13th consecutive year, ranked #1 in its industry and secured its place in the Europe index. This achievement reflects its strong environmental, social, and governance (ESG) performance, with sustainability at the core of its strategy.
In its press release, Schneider points out that its Schneider Sustainability Impact (SSI) program measures the company’s progress toward global sustainability with six long-term commitments that cover all environmental, social, and governance (ESG) dimensions. Among this progress, the company helped customers reduce their carbon emissions, with 553 million tonnes of CO2 saved and avoided since 2018. The company has also made significant progress in transforming its own supply chain. Carbon emissions from Schneider Electric’s top 1,000 suppliers fell by 27% since the beginning of the program — and 21% of the company’s most strategic supply chain partners have met Schneider Electric’s decent work standards.
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