BOSTON, April 23, 2020 /PRNewswire/ -- For the sixth year, Schneider Electric, the leader in digital transformation of energy management and automation, announces its financial and non-financial results together for the first quarter of 2020. Each quarter, Schneider Electric publishes 21 indicators from the Schneider Sustainability Impact (SSI), measuring progress towards its ambitious sustainability commitments for 2018 to 2020, in line with its COP 21 commitments and United Nations Sustainable Development Goals. This quarter, Schneider Sustainability Impact reached a 7.15 out of 10 score, an expected slowdown due to the current crisis. The Group has deployed additional actions confirming its socio-economic and societal engagements worldwide.
Gilles Vermot Desroches, Sustainability Senior VP at Schneider Electric, commented:
"We experience an unprecedented challenge, affecting billions of people in the world, and sustainability is as important as ever. I am convinced that together we not only go farther, but also faster when we pursue the same global goals. Schneider Electric is closely monitoring and reacting to the rapidly evolving global health and economic crisis due to Covid-19 (Novel coronavirus). The Schneider Electric Foundation has reacted immediately by launching the Schneider Electric Foundation Tomorrow Rising fund, an accelerator for our actions to respond to immediate needs, to contribute to recovery from the crisis and to build resilience for the future."
Sustainability commitments in response to the Covid-19 crisis
Today, Schneider Electric is united to respond to the crisis and to prepare a post crisis rebound articulated by four pillars of action:
1. Supporting employees everywhere
Schneider Electric's priority is to ensure the health and safety of all employees worldwide, implementing measures and protocols in line with local government directives.
In response to the Covid-19 crisis, the Group has enhanced its existing global benefit standards (Life, Health and Family Care) for all its employees worldwide, for the duration of the crisis. At the end of 2019, two of Schneider Electric's flagship programs under the health and equity pillar of the Schneider Sustainability Impact had reached close to full coverage (Gender Pay Equity and Global Family Leave programs).
2. Supporting society and providing expertise to the ecosystem
Schneider Electric is recognized around the globe as an essential business providing service continuity to critical infrastructure such as hospitals, data centers, IT networks, the temperature-controlled food supply chain, energy, transportation, water treatment and vital industries.
Ensuring continuity of service to critical industries in all the countries and communities where Schneider Electric operates is the Group's responsibility and its main contribution to the fight against Covid-19. In this context, the Group is focused on maintaining operations to service critical infrastructure, in compliance with health and local government regulations, collaborating across the entire business ecosystem, from suppliers to partners and distributors.
Schneider Electric is leveraging digital training for its employees as well as its partners via their online platforms such as Energy University and by offering employee family learning modules on Sustainability Development Goals, and more.
3. Mobilizing people and giving to the communities
On April 8th, the Schneider Electric Foundation announced the creation of a fund dedicated to Covid-19 support. This "Tomorrow Rising fund" supports emergency and longer-term reconstruction actions related to Covid-19 in all the territories in which Schneider Electric operates. The Schneider Electric Foundation invites leaders and employees who wish to do so, to donate and all donations will be matched by the company. Schneider also invites its other external stakeholders to donate to this fund.
Jean-Pascal Tricoire – Chairman & CEO – will personally contribute 25% of his base salary for the duration of the current crisis to the Tomorrow Rising fund. He is joined by the members of the Executive Committee of Schneider Electric who have committed to contribute 10% of their base salary to this fund for the duration of the current crisis.
Through these initiatives, Schneider Electric reiterates its commitment to sustainability and expresses its appreciation to all of those who are demonstrating extraordinary courage in their efforts to fight this pandemic. For example:
- In France, more than 100 Schneider Electric employees have volunteered as qualified Operators to work 24/7 for approximately six weeks at the Air Liquide site in Antony (South of Paris) to deliver 10,000 respirators requested by the French government
- In India, donations directly benefit more than 10,000 electricians and their families during the lock-down period
- Around the world, Schneider participates in supporting hospitals and healthcare providers to ensure continuity of services
- Employees in Schneider plants around the world have started the process of printing face shields for donation to local medical facilities
4. Advocating for a green recovery
Schneider Electric believes that the economic relaunch is an opportunity of positive transformation of society and the Group promotes decisions and investments leading to decarbonization, decentralization, and digitization. Schneider Electric has joined the European Parliament's "Green Recovery Alliance" to build a shared reflection on post-crisis green investment plans. The Alliance is committed to proposing the necessary investment solutions, aligned with climate commitments, to revive the economy after the crisis.
In addition, Schneider Electric has announced the signing of the European Plastics Pact on the occasion of its official launch in Brussels on March 6th 2020.
The non-financial results for the first quarter of 2020 are available on our site www.schneider-electric.com/sri
About Schneider Electric
At Schneider, we believe access to energy and digital is a basic human right. We empower all to make the most of their energy and resources, ensuring Life Is On everywhere, for everyone, at every moment.
We provide energy and automation digital solutions for efficiency and sustainability. We combine world-leading energy technologies, real-time automation, software and services into integrated solutions for Homes, Buildings, Data Centers, Infrastructure and Industries.
We are committed to unleash the infinite possibilities of an open, global, innovative community that is passionate about our Meaningful Purpose, Inclusive and Empowered values.
Hashtags: #LifeIsOn #Sustainability #SRI #OurImpact
SOURCE Schneider Electric