Schneider Electric named among 100 of the World’s Most Ethical Companies by the Ethisphere® Institute for the 9th consecutive year
- Schneider Electric is recognized for the ninth consecutive year for putting values and ethics at the heart of its strategy
- The ranking recognizes Schneider Electric’s long-term commitment to business ethics at all levels
- Schneider Electric will expand its ethics charter with a chapter on digital responsibility, making it a leader in this area
Schneider Electric, the leader in the digital transformation of energy management and automation, has been recognized as one of the World’s Most Ethical Companies by the Ethisphere® Institute, a global leader in defining and advancing ethical business standards. It is the ninth year that Schneider Electric has received this accolade, proving the group’s long-term commitment to ethical business in all respects.
Schneider Electric’s long-term commitment to corporate responsibility
Schneider Electric introduced its “Principles of Responsibility” code of conduct in 2002, and in 2008, it launched its “Responsibility & Ethical Dynamics” program to promote employee engagement. Combining prevention and advice with investigation and control, the program serves as an indicator of ethical performance in the Schneider Sustainability Impact (SSI) tool for measuring sustainability performance. By the end of 2018, 155 Schneider Electric suppliers were evaluated under the SSI’s “Human Rights and Environment” category, following on-site visits. The company aims to evaluate 300 suppliers by 2020. As a further example of the program in action, 68% of employees in sales, buying and finance received training in combating corruption, with the objective of training 100% of the workforce by 2020.
Schneider Electric, a pioneer in digital ethics
Beyond the Schneider Sustainability Impact, Schneider Electric has deployed a number of other initiatives. In June 2018, the Green Line alert system was deployed for all external stakeholders – suppliers, sub-contractors, clients and resellers – who might be faced by, or witness, non-ethical behaviour that could implicate or affect Schneider Electric, allowing them a simple way of flagging such situations on-line. The Green Line alert system is a mirror of Schneider Electric’s internal “Red Line”. Also, in 2018, the “Business Integrity Campaign” was launched to all Schneider Electric’s 142,000 employees worldwide. An anti-bullying campaign was launched at the same time. In 2019, Schneider Electric’s Ethics Charter will be updated. A chapter on “Digital Ethics” will be added, outlining the ethical rules governing data protection, including, for example, the ethical use of data in artificial intelligence projects.
“At Schneider Electric we accept no compromise when it comes to ethics, and this goes well beyond simple compliance with regulatory or legal requirements. By doing so we become more sustainable and more responsible,” said Emmanuel Babeau, Deputy Chief Executive Officer in charge of Finance and Legal Affairs, and Head of Schneider Electric’s Ethics Committee. “Being recognized by Ethisphere for the ninth year in a row on their list of the world’s 100 most ethical companies will make us redouble our efforts. It motivates us, year after year, to adopt exemplary ethical behaviour at all levels of the organization and throughout our ecosystem. Our “Principles of Responsibility” code of conduct will be updated in the first half of 2019, raising the ethical bar even further, and will be accompanied by a wide-ranging training program for all employees.”
Created in 2006, the annual World’s Most Ethical Company® list honours companies that have demonstrated exemplary ethical leadership in their industries, raising the standard of corporate behaviour as both the right thing to do and as an effective long-term strategy. Five key areas are assessed: ethics and compliance, corporate citizenship and responsibility, the culture of ethics, governance and leadership, and innovation and reputation.