Peter Herweck, CEO of Schneider Electric, believes that the global economy can work towards a more sustainable future through the use of electrification and digitization. At the Innovation Summit in Paris, Herweck emphasized the need for a fundamental transition in thinking to address climate change. He highlighted that energy consumption and production are key contributors to carbon emissions, and promoting digital and electrical efficiency can lead to significant emissions reductions. This shift towards a digital economy necessitates reliable and affordable energy access while also promoting more efficient use of resources.
Herweck pointed out that current technologies can already make energy consumption more efficient and reduce carbon emissions significantly. Automation and artificial intelligence solutions play a crucial role in achieving these goals, with Schneider Electric and other companies in the industry providing innovative solutions. By transforming manufacturing, infrastructure, and industrial processes, these technologies can lead to efficiency savings and emissions reductions throughout the value chain. From smart-homes to smart-factories, deploying AI-powered systems can make energy grids more resilient and improve home energy management.
Schneider Electric has increased its research and development spending to nearly 8% of its revenue, with a focus on its EcoStruxure architecture and platform. This plug-and-play system encompasses the internet of things, cloud computing, analytics, monitoring, and cybersecurity to optimize an organization’s energy ecosystem. Herweck aims to integrate these technologies into homes, buildings, data centers, infrastructure, and industries to meet the growing demand for smarter energy management solutions. He highlighted the importance of addressing climate change and urbanization through these innovative technologies.
The company’s commitment to climate action is evident through its participation in the Science Based Targets initiative, with validated net-zero commitments. Schneider Electric has been advocating for cleaner energy and transformation for over 20 years and was among the first global companies to outline carbon target commitments for 2030 and 2050. With a focus on sustainability and efficiency, the company is dedicated to supporting a more sustainable future through its technologies. By emphasizing the importance of reducing carbon emissions and promoting digital innovation, Schneider Electric is paving the way for a more sustainable global economy.