Time to tackle the demand-side of the energy transition, Schneider Electric says

• Senior Schneider executives at Climate Week NYC to advance the energy debate
• Solutions for environmental, social and economic progress exist

HONG KONG SAR - Media OutReach - 19 September 2022 - Schneider Electric, the leader in the digital transformation of energy management and automation, today issued a rallying cry for governments, companies and individuals around the world to wake up to the huge – but often still under-estimated – role they can play in building a more electric, digital and energy-resilient future.

"Weaning the world off fossil fuels is essential, but it will take time – and time is running out when it comes to climate change.," said Gwenaelle Avice-Huet, Schneider Electric's Chief Strategy and Sustainability Officer. "The good news is that there are solutions we can leverage today. In particular, there's much more we can do to optimize how energy is consumed in the first place. This demand-side of the energy equation is a powerful lever, and one that deserves much more action and attention than it is currently getting."

Ms Avice-Huet was speaking on the eve of Climate Week NYC 2022, which she and several other senior Schneider Electric will attend. The event, on September 19-25, brings together influential climate action leaders from business, government, and the climate community to promote climate action and awareness.

This year's event takes place against the backdrop of a dramatically disrupted global energy landscape. Soaring energy prices have highlighted that the energy transition needs to be not only about the environment, but also about society and addressing the unequal and often very painful economic toll the crisis is taking.

"Energy insecurity is a global and growing reality we can't ignore," said Ms Avice-Huet, "As an impact company we're acutely aware that we're not here to simply raise the alert on the issues, but that we need to deploy our insights and know-how to deliver actual solutions and bring everyone along the path to sustainability."

Schneider Electric founded its own Sustainability Research Institute in 2020 to reinforce its contributions to the climate and energy debate. The institute's reports offer valuable insights and policy recommendations on the untapped potential of electrification, digitization, efficiency and circularity. Its research team has been expanded significantly since its creation and regularly collaborates with external research partners and influencers such as the World Green Building Council and BloombergNEF.

Schneider Electric is widely recognized for being a corporate environmental, social and governance (ESG) leader and enabler. Earlier this summer, the company confirmed its commitment to reach net zero across its entire value chain by 2050 by becoming one of the first few organizations in the world to have that commitment validated by the Science Based Targets initiative (SBTi).

Schneider's products, software and services help its customers and partners to speed up their decarbonization efforts and attain greater resilience. The company will announce a string of innovations for efficiency and sustainability during its flagship annual Innovation Summit World Tour customer and partner event, which kicks off on October 12.

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