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
MISSISSAUGA, ON, Feb. 28, 2019 /CNW/ - Schneider Electric, the leader in 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, 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 behavior 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 behavior 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 honors companies that have demonstrated exemplary ethical leadership in their industries, raising the standard of corporate behavior 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, culture of ethics, governance and leadership, and innovation and reputation.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture.
Ethisphere honors superior achievement through its World's Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com
About Schneider Electric
Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency. We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.