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    Schneider Electric ranked world’s most sustainable company by Corporate Knights

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    Peters, Lagos Correspondenthttp://Naija247news.com
    Anene Peters is an intern with Naija247news Media. He's focus is on tech and science. He's a graduate of Abia State University with a major in Computer Science and Communications. You can contact him for press events on 0903 927 6505

    Leading company in the digital transformation of energy management
    and automation, Schneider Electric, has been ranked the world’s most
    sustainable corporation, in a prestigious annual list compiled by
    Corporate Knights, a media and research company focused on
    corporate sustainability performance.

    The recognition which coincides with the Schneider Electrics
    announcement of its accelerated sustainability programme marks a big
    jump from 29th place the previous year and represents a high-profile
    external acknowledgement of the company’s long-standing commitment
    to Environmental, Social and Governance (ESG) issues.

    Chairman and Chief Executive Officer, Schneider Electric Jean-Pascal
    Tricoire, while reacting to the achievement in a press statement, said the
    award was a reflection

    of the company’s drive towards sustainability and
    making the world greener and more inclusive.

    “We are honored and grateful to be ranked number one by Corporate
    Knights. It is a major encouragement for our teams and partners, and a
    great recognition of more than 15 years of engagement to make our
    company and the world greener and more inclusive. Sustainability is a
    journey that we accomplish with our people, partners, suppliers,
    customers and communities where we operate. This recognition goes
    also to all of them.”

    Corporate Knights’ 2021 ranking was based on an assessment of 8,080
    companies with more than US$1 billion in revenues. Performance
    indicators include evaluations of how much renewable energy and waste
    companies generate

    The Toronto-based company identified Schneider Electrics steady shift
    towards products and services that help customers manage their energy
    needs more efficiently and safely.

    According to the CEO of Corporate Knights, Toby Heaps; “In recent
    decades, Schneider Electric has shifted its focus to data centers;
    storage and other distributed energy resources; and smart solutions that
    advance electrification, energy efficiency and renew ability. It now earns
    70% of its revenue from, and directs 73% of its investments toward,
    sustainable solutions, Schneider Electric also performs strongly in racial
    and gender diversity and in resource productivity and safety.”

    In another development, General Manager, Sub-Saharan Africa,
    Process Automation, Schneider Electric, Ajibola Akindele, has called on
    stakeholders of Nigeria’s power sector to augment investment in the
    power sector so as to enable the country achieve her industrialization
    goal.

    Akindele who gave the charge recently, in an interview with Arise
    TV, averred that the country needs to create the necessary framework
    for private sector investments.

    “We have had several years of under-investment in the power sector.

    If you look back at the last 30 years, particularly between 1989, to
    2007, there was no major investment in the power sector. The country
    was just spending enough to stabilize the grid infrastructure. The
    sector needs investments in order to accelerate GDP growth and
    create jobs,” said Akindele.

    He further noted that based on general consensus by experts in the
    power sector, the country needs between $3-5 billion annual spend
    over the next 15 years to achieve industrialization. While these are
    huge amounts, he expects that some funding could come from
    Government, International Development Agencies and from the Private
    sector. All available funding options must be explored and investors
    should be given the necessary incentives and where necessary
    guarantees to ensure they can make a decent return on their
    investments.

    In conclusion, he highlighted that though there has been some positive
    developments in the power sector recently; these are not enough and
    we need to move much faster to improve electrification rates and
    reliability of the grid.

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