Schneider Electric named Circularity Lighthouse by World Economic Forum
Schneider Electric, the global expert in energy management and automation, has been recognised as one of three global Circularity Lighthouses in the built environment by the World Economic Forum and McKinsey. This accolade is a testament to Schneider Electric's significant endeavours in pioneering circular business models across its comprehensive portfolio.
Schneider aims to empower all to maximise energy and resources, bridging progress and sustainability. The company drives digital transformation by integrating expert process and energy technologies, end-point to cloud connecting products, controls, software and services across the entire lifecycle, enabling integrated company management for homes, buildings, data centres, infrastructure and industries.
The World Economic Forum and McKinsey acknowledged the sustainable practices Schneider Electric adopted across its broad portfolio of energy and building automation solutions. Through progressive methods, including eco-design, waste-to-resources sites, and a global network of refurbishment centres, Schneider Electric has successfully avoided approximately 513 million tons of CO2 emissions since 2018.
Schneider Electric's commitment to sustainability is further displayed through the use of 27% green materials across its range of products. The company is aspiring to extend this figure to 50% by 2025. Moreover, 22% of Schneider Electric's product families feature a circularity option, and over half of the firm's manufacturing sites recover more than 99% of waste.
On receiving the recognition, Peter Herweck, Schneider Electric's Chief Executive Officer, highlighted the importance of circular business models. He said, "Circular business models offer compelling sustainability and commercial benefits," adding that Schneider Electric looks forward to the opportunities provided by the new Circularity Lighthouse network to learn, share, and accelerate action.
The esteemed recognition underscores Schneider Electric's initiatives to promote the circular model in its operations. One example is the company's MasterPact MTZ circuit breakers. Collected at the end of their lifecycle, these circuit breakers are refurbished at the MasterTech plant in France, where they undergo disassembly, diagnosis, upgrades, and testing before re-entering the market.
Circular business models and supply chain design are integral parts of Schneider Electric's IMPACT Supply Chain programme. The programme represents the next phase of the company's supply chain transformation, aiming to impact customers and the planet positively. The programme's key pillars include empowering Schneider Electric's team members to innovate and make a positive impact daily, building a sustainable and net-zero ready supply chain, ensuring the supply chain's reliability delivers industry-leading quality, and driving performance via advanced technology, smart and unified processes, regional ecosystems, and collaborative design.
The Circularity Lighthouses distinction by the World Economic Forum and McKinsey signifies an important acknowledgement of Schneider Electric's efforts in pursuing sustainable and circular business practices. The honour enables Schneider Electric to further its commitment to reducing CO2 emissions and embracing circular economics on a global scale, contributing significantly towards a more sustainable future.
