The call comes amid spiking energy prices, an energy supply crisis and fast accelerating climate change, which together pose major challenges for companies, economies and societies around the globe. These challenges form the backdrop for the
"Today's climate and energy crises are an economic reality for ever-increasing numbers of people. As business leaders and policymakers come together at
With 38% of global CO2 emissions coming from the built environment, and a further 32% from industry,
An independent survey of more than 500 C-suite executives commissioned by Schneider last year found that corporate sustainability commitments and investments are often hampered by the complexity of decarbonization. On average, the financial commitment to sustainability and decarbonization initiatives across the companies surveyed was less than 2% of projected revenue over the next three years - despite the fact such investments are often efficient and cost-effective, with return on investment often under one to three years.
Respondents highlighted stakeholder alignment, budget, technology, skills and regulation as challenges to sustainability implementation. However, a majority noted that enhanced industrial automation and the upgrading of electrical infrastructure will form a key part of their sustainability plan for the next three years.
Renewable energy procurement is among the top initiatives pursued on the supply side, while electrification - a key demand-side measure - scores low among organizations' sustainability priorities. Alongside electrification, delivering increased efficiency across existing infrastructure through digitization and automation will be among the most important levers in the next decade, being the fastest and most capital-efficient means for many organizations to reduce emissions.
A further recent
"Purpose and profits must align to become powerful forces in the fight against climate change," said Tricoire. "We already have the technology to avert the energy and climate crises, and to deliver safe, reliable, and sustainable energy distribution and energy use. Our data-driven approach, spanning industrial automation, digitization and the digital twin technology of the enterprise metaverse, combines to unlock a brighter, more sustainable and more prosperous future. The urgency for action has never been greater than it is now."
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