Electrification And Digitization Will Lead To A Sustainable Future, Says Schneider Electric CEO

The global economy can aim for a more sustainable future by deploying the twin tools of electrification and digitization, according to the boss of one of the world’s largest energy management and digital automation companies.

Speaking at his company’s Innovation Summit in Paris, France on Wednesday (April 3, 2024), Peter Herweck, Chief Executive Officer of Schneider Electric, said: “Addressing climate change requires a fundamental transition and a much wider change in thinking. Such a change in approach requires doing something that has never been done before – innovations for impact – enabled by digitization and electrification.”

Since 80% of climate change is down to carbon emissions, and 80% of such emissions are related to energy, how the world generates and consumes energy is where most of the problems and the solutions lie, he noted.

“To address that, we say – be more digital, more electrical and ultimately…more efficient. This digital economy is contingent upon reliable, secure and affordable access to energy. Yet its potential to power a decent life has created an oxymoron the world needs to address – that’s consume more but use less.”

But Herweck asserted that the technologies needed to make energy consumption more efficient and its production less carbon intensive “by taking out 70% of current CO2 emissions” are already here.

Many of these are underpinned by automation and artificial intelligence (AI) solutions Schneider Electric and its competitors provide in a competitive multi-billion dollar industry.

Using such technologies to “build, design, operate and maintain” or in other words transform the world’s manufacturing, infrastructural and industrial complex in tandem with consumer habits will bring efficiency savings and emissions reductions across the value chain, Herweck added.

“We’re talking of everything ranging from smart-homes to smart-factories – a rethink involving AI powered systems deployed to make electricity grids more resilient and our home energy management more efficient.”

Earlier in the day, the Schneider Electric boss said the French multinational company had increased its research and development spending from a current level of 5.4% of its headline revenue to nearly 8%.

The company’s core product pitch revolves around its “plug-and-play, open, interoperable” EcoStruxure architecture and platform capable of harnessing the internet of things, cloud computing, analytics, advanced monitoring and cybersecurity for an entity’s entire energy ecosystem.

Herweck said his company’s ultimate goal is to bring its technologies to bear in homes, buildings, data centers, infrastructure and industries.

About Schneider Electric

Schneider Electric’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software, and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure, and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

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