October 14, 2022
Schneider Electric kicked off its Innovation Summit Las Vegas with a passionate call to address the triple crisis – energy, economic and climate – facing governments, businesses and consumers around the globe, and outlining its approach and solutions to achieve this.
“In a time of global crisis, we must have complete clarity on our journey and destination. The current energy crisis is only the tip of the iceberg,” said Jean-Pascal Tricoire, Chairman and CEO of Schneider Electric. “With energy demand globally anticipated to grow three-fold in the next 30 years, it’s vital that we deploy all the technologies that are already available now to accelerate electrification, digitization, and sustainability.”
Tricoire addressed Innovation Summit Las Vegas attendees as part of a joint keynote with Aamir Paul, President, Schneider Electric North America. They highlighted the urgent need for action as this is a pivotal moment when sustainable commitments can become a reality now that technology has aligned with intention.
Key topics discussed by Tricoire and Paul included:
- Using digitization to unlock the full capacity of efficiency: The future of sustainability depends on interoperability and breaking down siloes across value chain partners. Through digital twin interfaces, online exchanges and marketplaces and other digital tools, Schneider’s customers can optimize the entire lifecycle of a commercial building, as an example, throughout the Design, Build, Operate, and Maintain phases, with the potential to realize a 30 efficiency impact.
- Electricity is the most efficient form of energy and the best vector for decarbonization: As it is cleaner than burning fossil fuels, it has advantages for electrifying homes, buildings, and transportation. Together, electrification and digitization are key to doing more with less energy and with fewer resources.
- Today’s available technology can reduce carbon emissions: The pair also discussed recent findings from Schneider Electric’s Research Institute which issued a first of its kind quantitative study demonstrating the potential of available technologies, which, if combined and deployed at scale has the potential to lower carbon emissions by two-thirds by 2030, while generating massive savings on energy spend for building dwellers (up to 70 per cent). ]
To further support customers in their sustainability goals, Schneider Electric also debuted seven new product, software, and service offerings that address the pressing environmental and social issues arising from the energy crisis and climate change.
The company also announced a $46M investment to modernize manufacturing plants in Kentucky and Nebraska to increase circuit breaker and related electrical products for customers in the U.S. and Canada. This follows the more than $100 million investment in 2021 to expedite the reshoring of its manufacturing capability in the North American region which saw organic growth of +12.6 per cent in fiscal year 2021.
“Ours is the first generation to understand the reality of our climate challenges, and the last one that can do something about it. We’re at a pivotal moment to lead in the journey to net zero and the key to reaching our sustainability goals is embracing a digital and electric-first future,” said Aamir Paul, President, Schneider Electric North America. “In today’s competitive business environment, creating a more sustainable world involves going all-in on digitization, and the time to act on this movement is now. We’re looking forward to discussing with leaders and executives across industries at our Innovation Summit this week to move beyond strategy and to act on ideas.”
Following the keynote address, Paul hosted a panel discussion with executives who’ve implemented sustainability practices to address the reality of climate challenges, featuring Deborah Donovan, Senior Vice President, Environment, Health and Safety at Moderna; and Paul Gordon, Senior Vice President at EQ Office. The leaders discussed how they navigated short and long-term priorities, personal and business responsibilities, fears, surprises, and partnerships to create a net-zero future.
Schneider Electric has long advocated for urgent, concerted action to reduce energy waste, invest in renewables, electrify and digitalize energy ecosystems, and ensure that all this is done with economic and people welfare in mind. The company is widely recognized as a leader on environmental, social and governance (ESG) issues, and its products, services and other activities help customers, suppliers, business partners and communities further their own progress on those fronts.