Recently, Schneider Electric, an expert in digital transformation in the field of global energy management and automation, discussed and shared experiences with guests at the World Economic Forum 2024 Annual meeting on how to efficiently reduce carbon and accelerate the green transformation of the overall value chain, and won the title of “circular beacon” in the field of built environment issued by the World Economic Forum and McKinsey Consulting Company. It provides an excellent example for enterprises from all walks of life to cooperate with the value chain to carry out green transformation.

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Carbon reduction is imminent, and focusing on energy transformation using existing technologies is the key

In recent years, with the increase of uncertainties such as climate change, the urgency of carbon reduction actions is increasing, and mankind needs to make full use of existing technologies to accelerate the pace of action. Peter Herweck, CEO of Schneider Electric, said: “Energy consumption accounts for 80% of global carbon emissions, and the energy transition is at the heart of today’s carbon reduction challenge. In the face of the growing climate challenge, if companies can make full use of existing technologies, such as renewable energy generation, digitalization and electrification, they can significantly improve the energy efficiency of their operations and accelerate the low-carbon transition in the short term.”

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Schneider Electric has demonstrated the effectiveness of this approach: As early as 2002, Schneider Electric incorporated sustainability into its core strategy and promoted the green development of its business through the deployment of diversified digital operating systems, the adoption of clean energy, and the development of a circular economy. In the circular economy, 29% of Schneider Electric’s products use green materials, and this proportion will reach 50% by 2025. 22% of products offer recycling options, and more than half of production sites recycle more than 99% of their waste. In terms of digitalization, Schneider Electric has helped customers worldwide reduce carbon emissions by 553 million tons since 2018.

During the forum, the World Economic Forum, in collaboration with McKinsey & Company, awarded three companies the “Circular Beacon” designation in the built environment, which recognizes companies that have demonstrated sustainable development in residential and commercial infrastructure. Schneider Electric is one of three companies to receive this award by applying the end-to-end cycle concept to a wide range of energy and building automation solutions, providing a reference for other companies to take action at scale to improve resource efficiency.