Sustainability has become increasingly critical for organizations to remain relevant and competitive in today’s world.
Much like digital transformation, driving sustainability requires organizations to transform every division of their business.
ET Insights caught up with Anil Chaudhry, Zone President, India and CEO & MD of Schneider Electric India Private Limited to understand how the energy management and automation company, with operations in more than 100 countries is building a sustainable business and company.
“Schneider Electric globally and in India is working strongly with the industry, institutions and society at large to ensure how we a accelerate the journey to make the world greener and inclusive,” Chaudhry said.
Schneider Electric itself has taken strong global and local commitments to sustainability, including that of saving and avoiding 800M metric tons of CO2 for customers by 2025 and helping 1000 of its suppliers halve their carbon emissions by 2025.
It has also committed to achieve net-zero emissions by 2030.
“By 2040, we want to become carbon neutral in our whole ecosystem, that is scope 1, 2 and 3 emissions,” Chaudhry said.
In January 2021, Schneider Electric was ranked as the world’s most sustainable company in the 2021 by Corporate Knights Global 100 Index.
Recently, the company won the FICCI CSR Award for its ‘Energy for Sustainable Livelihood’ project under the Food Security and Agriculture category at the 20th FICCI CSR Award Ceremony. The project aims to transform lives of tribal women farmers in 10 economically backward districts in Bihar, Jharkhand, and Odisha by providing assured irrigation through 428 solar powered irrigation system, supporting 8356 farmer families for their agricultural use resulting in income enhancement.
By 2025 Schneider Electric aims to support 6000 more farmer families through installation of 300 additional solar pumps.
“There is a debate around the initial costs for ESG versus the benefits. We have taken a stand of not compromising on the long-term sustainability of the organization and that of the planet,” Chaudhry said.
Electricity 4.0: Future of sustainability
Chaudhry added that a more electric and digital world is key to addressing the climate crisis.
“Together with our customers, we are building a new electric world by providing smart energy everywhere in our homes, buildings, data centres, industries, infrastructure and grids,” Chaudhry said.
Proven to be 3-5x more efficient than other sources, electricity is the most efficient energy; it is also the best vector for decarbonisation.
“We need to have equal standards and concerted efforts from all stakeholders – the community, regions, government and the private sector – to reduce carbon dioxide (CO2) emissions or to promote energy decarbonisation,” Chaudhry said.
ET Insights opinion:
Today, companies across sectors are facing increasing pressure from consumers, governments, investors, and financial services companies to have a positive and active role in protecting people and the planet.
Sustainability will play a key role in the coming years and embedding it at the core of corporate strategy will be critical. It is essential that companies take a five-step approach that involves engage, prioritise, collaborate, report, and communicate to pave the way for an effective decarbonisation and an inclusive energy transition.