SCHNEIDER ELECTRIC SE | Say on climate
How other organisations have declared their voting intentions
| Organisation name | Declared voting intentions | Rationale |
|---|---|---|
| Ircantec | For | Ircantec decides to support Schneider Electric's Say on Climate. The latter is based on decarbonization targets validated by the SBTi, covering the entire value chain, with a 1.5°C trajectory and clear deadlines for 2030 and 2050. The Group aims to reduce Scope 1 and 2 emissions by 76% by 2030 (reference year 2021) and Scope 3 emissions by 25% over the same period, before achieving a 90% reduction in emissions across all scopes by 2050 and carbon neutrality. Operational emissions account for less than 1% of the total, with a 30% reduction in Scope 1 since 2021 and a significant decrease in Scope 2 under the market-based approach, supported by a target of 100% renewable electricity by 2030. Scope 3, which represents over 99% of emissions, is primarily linked to the use of sold products and is addressed through structural levers, including ecodesign, technological innovation, and the engagement of 1,000 suppliers, who have already reduced their operational emissions by 56%. The climate strategy is closely integrated into the business model, with 75% of revenue classified as positive impact revenue and solutions contributing to the avoidance of 1.5 billion tCO₂ by 2030. Governance appears robust, with significant integration of climate objectives into executives' variable compensation (both short and long term). Some points of vigilance remain regarding the reduction dynamics of Scope 3, but the overall consistency, scientific credibility, and operational anchoring of the plan justify support for the presented initiative. In conclusion, we support the overall coherence of the climate strategy and the integration of governance into this plan, while remaining attentive to the progress of emission reductions. Ircantec strongly encourages Schneider to continue its commitments with its value chain, improve the transparency of all its actions, and the associated financial means to achieve climate objectives across different time horizons. |
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