Schneider Electric Calls for Urgent Action in the Race to Decarbonize by Accelerating Net Zero Pathways

Rueil-Malmaison, France, October 22, 2021 /3BL Media/ - The world can accelerate urgent climate action and halve carbon dioxide (CO2) emissions by 2030, according to Schneider Electric, the leader in the digital transformation of energy management and automation, recognized as the World’s Most Sustainable Corporation in 2021 by Corporate Knights. Kicking off the Innovation Summit World Tour 2021, Schneider Electric Chairman and CEO Jean-Pascal Tricoire’s keynote advocates achievable pathways to net zero set out in the “The 2030 imperative: A race against time” report from the Schneider Electric Sustainability Research Institute.

Schneider Electric’s flagship annual Innovation Summit World Tour (October 12-November 12) will address global climate challenges and guide customers, partners, regulators, and policymakers on rapidly reducing emissions to decarbonize the world’s economy in this decisive decade. Attendees will experience Schneider Electric’s digital and sustainable innovation and learn more about Electricity 4.0 and Next-generation automation.

Urgent need to act fast to decarbonize

Tricoire’s Innovation Summit World Tour keynote urges attendees to adopt critical decarbonization measures and offers Schneider Electric’s own research as a blueprint to stay within a global warming trajectory of 1.5°C degrees. This report details the need to reduce emissions by 30-50 percent this decade, compared to current levels. Missing this makes it virtually impossible to limit temperature rise to a 1.5°C degree threshold as outlined by the Intergovernmental Panel for Climate Change (IPCC).

The Schneider Electric Sustainability Research Institute modelling shows how 10GtCO2/y can be realistically and affordably abated by 2030. The report focused on a subset of global greenhouse gas emissions. Out of 50GtCO2e/y, “The 2030 Imperative” scenario finds a 30% (10GtCO2e/y) abatement opportunity from a 30GtCO2/y baseline of all energy-related emissions, a significant acceleration from current pledges (ranging around 3GtCO2e/y, which is 10% of the emissions reduction target). There remains however around 20GtCO2e/y of non-energy related emissions which is not covered in this report's modelling.

Schneider Electric is calling for a 3-5 times greater effort from governments and corporates. The Institute believes the only realistic roadmap for success is to deploy proven digital technologies alongside increased electrification as the fastest way to decarbonize buildings, transport, and industry. This approach buys time to address hard-to-abate sectors. Its modelling clearly shows alternative pathways will place too high a burden on consumers.

“Despite increased momentum around sustainability and more companies adopting ambitious targets to tackle climate change, this research reveals how we need to speed up. At Schneider Electric, we are uniquely part of the solution. To support organizations in their quest to decarbonize at pace and deliver on their climate commitments, we are accelerating the expansion of our global sustainability consulting services business to meet the increasing demand for meaningful progress on energy transition and climate action goals,” said Jean-Pascal Tricoire, Chairman and CEO, Schneider Electric. “What organizations require today is a trusted partner who combines strategic planning and target setting with a proven track record of solutions implementation to deliver faster, tangible sustainable outcomes. Having successfully overcome many sustainability challenges ourselves, and in so doing, achieved world-leading digital and electric solutions in our own facilities, we are well-positioned to help others go faster and further.”

Strategies and solutions to decarbonize value chains 

Building on its sustainability leadership and the ambition of the 2021-2025 Schneider Sustainability Index, Schneider Electric is accelerating its global sustainability consulting business and expand on a 10-year track record of success in energy and sustainability services.

Today, Schneider Electric is the world’s leader in energy efficiency, energy management, renewable energy procurement, carbon reporting, climate risk assessment, and supply chain decarbonization, providing software and consulting services to more than 30% of the Fortune 500. Customers include Johnson & Johnson, Walmart, Faurecia, Kellogg, Takeda, Velux Group, Unilever, and T-Mobile, among others.

Read the full release on Schneider Electric's site