FUTURE PROOFING
A holistic C-suite concept for businesses at the forefront
This year , Schneider Electric was named as the world ’ s most sustainable company by TIME Magazine . Our definition of sustainability is the ability to meet the needs of the present without compromising the ability of future generations to meet their own needs . It ’ s a holistic approach that considers the economic , social , and environmental aspects .
Attitudes towards sustainability have evolved significantly in recent times , even within the last year or so . One study found that almost a third ( 30 %) of executives report having made significant progress in executing sustainability strategies , which is up from 10 % on the year previously . While many admit to still struggling to find investment , there is little doubt that boardroom attitudes are changing to incorporate sustainability as part of everything , from product lifecycles , and services , to operations , procurement , and HR .
Companies at the leading edge of sustainability are looking for better initiatives and solutions ahead of any imposed legislation . It ’ s about innovating from an organisational perspective to not only constantly transform but to also guide customers and partners along their own sustainability transformation .
Total Cost of Sustainability is a way of thinking about and implementing sustainability that continuously assesses all aspects of a sustainability strategy , including costs , business benefits , reputational standing , market perception , social , and environmental impact .
This concept is a holistic approach and gap analysis tool , that can be a catalyst to reshape boardroom thinking , as organisations seek to gain in-depth visibility across the business .
Increasing environmental visibility and reach
Environmental , Social , and Governance ( ESG ) commitments are being matched with economic considerations , and integrated more closely with operations , and business leaders are already seeing benefits .
Digital technologies can be both tools and catalysts in these efforts . A good example is the evolution of Data Centre Infrastructure Management ( DCIM ) to encompass a more diverse digital infrastructure portfolio . The data and intelligence from next-generation DCIM allows organisations to meaningfully report Scope 1 , 2 and 3 emissions , while also interconnecting customers , partners , and suppliers within an entire ecosystem .
In the future , it is anticipated that this kind of reporting will go beyond to address areas such as resource use in land and water , as well as possible pollution . Circular efforts to reuse , re-engineer and recycle equipment also mean a reduced need for resource extraction , further lessening impact .
There are already many such instruments covering products . An independent system for Environmental Product Declarations ( EPD ) includes not just the embodied carbon of manufacture , but also extends across the five pillars of Life Cycle Assessments ( LCAs ), and through total cost of ownership . Embracing this facility , more than 80 % of Schneider Electric ’ s product range is now covered by EPDs , in the form of Product Environmental Profiles ( PEP ). While EPDs can vary according to manufacturer and product category , a PEP is a version of an EPD for use with electrical and electronic equipment ( EEE ) and HVAC products following specific category rules .
Total cost of sustainability , source : Schneider Electric
A recent open letter from the iMasons Climate Accord group , including Schneider Electric , emphasised the value of EPDs as a critical tool in measuring the embodied GHG footprint of digital infrastructure , urging their industrywide adoption .
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