- The company has enhanced its climate change advisory services with the addition of climate risk consulting
- This announcement builds on the company’s growing suite of climate-related services, which also includes supply chain decarbonization
Schneider Electric, the leader in the digital transformation of energy management and automation, today announced that it has added climate risk assessment and advisory to its existing suite of climate change consulting services.
Climate change is disrupting global environmental and socioeconomic systems with increasing pressure on corporations to address these risks to preserve the resilience and longevity of their operations. This pressure was accelerated and intensified by the disruption brought on by the COVID-19 pandemic.
While climate change abatement remains a critical objective for companies today, corporations have also begun to respond to these pressures by assessing and addressing the risks associated with climate change, which include both physical risks and what are known as transition risks – or those risks associated with transitioning to a low-carbon economy, such as market and regulatory changes.
Under its climate risk services, Schneider Electric collaborates with organizations to conduct a climate risk assessment, develop a strategy and implementation plan to address identified risks against multiple climate scenarios, and disclose those risks accordingly. The company’s broader portfolio of climate action solutions includes environmental, social, and governance (ESG) data management with EcoStruxure™ Resource Advisor, global energy management services, energy efficiency, renewable energy procurement, supply chain decarbonization, and digital connectivity program development.
“There is mounting pressure on all organizations to measure, manage, and disclose their climate-related risk profile. Emissions-only is no longer enough,” said John Hoekstra, VP of Sustainability Operations at Schneider Electric. “But pressures aside, understanding a company’s climate risks presents opportunity, a chance to protect and enhance the ability to perform in a rapidly changing environment.”
The climate risk service is delivered by experts from Schneider Electric’s Energy & Sustainability Services division, a leading global provider of energy and sustainability advisory services. The company manages more than $30B in energy spend on behalf of its clients and recently announced that it had advised clients in the procurement of more than 10 gigawatts of new build wind and solar power projects worldwide. Schneider Electric itself has been recognized by Corporate Knights as the 2021 most sustainable global corporation and aims to achieve net zero across its value chain by 2050.
The general increase in climate-aware organizations has brought resilience into focus, and as global climate change continues, climate-related risks continue to grow and become a significant threat to companies and the economy. Schneider Electric’s climate risk services enable companies to take a proactive—rather than reactive—response to climate risk assessments and scenario planning.
Learn more about how Schneider helps leading companies like Auchan, Simon Property Group and EQT in their climate risk and action journey via a recent webinar, Embedding Climate Risk and Resilience into Sustainability Strategy.