Schneider Electric announces new strategies to close the ‘green gap’

Speaking at a media briefing on Thursday (March 14) to unveil its 2024 business direction and strategy, Mongkhon Tangsiriwit, Schneider Electric's cluster president for Thailand, Laos, and Myanmar, noted that the move is consistent with the next wave of digitalisation, in which Artificial Intelligence (AI) and Machine Learning will be integrated for better software system performance, while Information Technology and Operational Technology will seamlessly merge to improve efficiency.

The direction aligns with Schneider Electric's goal of closing the so-called “green gap” by helping companies that have not yet implemented a comprehensive sustainability strategy.

According to a recent sustainability goals survey conducted in collaboration with Milieu Insight to gather Asian business leaders’ perspectives on sustainability and environmental issues, more than 90% of businesses in Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Vietnam, and Thailand view digital transformation as critical to driving sustainability.

The survey of more than 4,500 corporate leaders, including 500 from Thailand, found that climate change affects energy supply or demand by 44% and recovery ability by 41%, particularly preliminary projects or technology implemented by companies to meet energy goals.

Furthermore, many organisations believe that sustainability leads to 44% more business opportunities, 42% more innovation and competitiveness, and 38% more cost savings and financial benefits.

In Thailand, 98% of respondents stated that their organisations have sustainability plans and objectives; however, only 53% have implemented a comprehensive sustainability strategy, leaving a green gap of 45% that has yet to be filled.

"The issue of climate change is a massive challenge that necessitates collaboration across all organisational levels. To achieve sustainability more efficiently, the company is committed to sustainability-related innovations and expanding its software portfolio," Mongkol said.

He promised to provide better and smarter electric management software and revealed that the company will strengthen and increase customer sustainability efficiency through its hardware.

Schneider Electric's hardware and software will work together intelligently to provide a comprehensive experience for all industries as they navigate the path to sustainability, he added.

Positioned to become an industrial technology company that provides software and solutions to meet the needs of businesses, the company now offers a complete range of electrification products and services, from planning, designing, and building to operating sustainably.

In addition, he pointed out that the company has invested in AI and machine learning technologies to assist with energy and sustainability consulting. It provides a detailed overview and analysis of the company's energy and sustainability portfolio.

"Schneider Electric is committed to being a digital partner for customers in driving sustainability and efficiency," he said.

He added that in addition to becoming a future industrial tech partner, the company aims to serve as a sustainability accelerator through this year's “Impact Maker” campaign.

This recently launched campaign encourages organisations to collaborate to effect change and create a more sustainable world, with the ultimate goal of closing the remaining green gap.

In terms of its 2024 target, Mongkol pointed out that the company will maintain its strong momentum, with a global revenue growth of 6-8%.
The target follows Schneider Electric's greatest success in 2023, when its global operating results increased to 35.902 billion euros, representing 13% organic growth.