The company says it will also assist its customers and business partners achieve their sustainability objectives.

The announcement coincided with the news that Corporate Knights, a Canadian media and research company which produces rankings and financial product ratings based on corporate sustainability performance, has ranked Schneider Electric as number one in its annual index of “the Global 100 most sustainable corporations in the world."

“The core of our strategy is to build a sustainable business and company. Customers, employees, partners and investors have never been more focused on ESG considerations than they are now.

"Schneider Electric has long embraced those issues, and we keep raising the bar for ourselves, and for our customers and partners,” said Jean-Pascal Tricoire, Schneider Electric’s Chairman and Chief Executive Officer.

He added that: “When we introduced our first sustainability barometer in 2005, we were an early adopter of ESG matters. But ESG commitments cannot just be a one-off, and we have reinforced ours every three years.

"All of us – companies, governments, individuals – can contribute to making the world greener and more inclusive. Our new commitments define the next steps of our contribution.” 

The new Schneider Sustainability Impact (SSI) program will span 2021-2025. It is built on six long-term commitments, which are set to deliver on each of the United Nations’ Sustainable Development Goals.

These commitments are: to act for a climate-positive world; to be efficient with resources; to live up to its principles of trust; to create equal opportunities; to harness the power of all generations; and to empower local communities.

“The ability and willingness to make the world greener and more equitable is not just a moral responsibility – it makes good business sense too,” said Olivier Blum, Schneider Electric’s Chief Strategy and Sustainability Officer.