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After nearly six years of delisting, Schneider Electric is reportedly preparing to relist its Indian subsidiary on the Metropolitan Stock Exchange of India (MSEI). This move follows a directive from the capital market regulator, Sebi, according to reports.

Earlier this year, Securities Appellate Tribunal (SAT) accepted withdrawal application of the French multinational company and directed them to comply with Sebi’s order to either re-list or de-list within six months. The company had then informed exchanges that it would opt to re-list.

The Schneider Electric case was a second such instance in 2019, wherein shareholders and regional stock exchange (RSE) moved to SAT following ‘poor’ treatment of their complaint by Sebi. Post this, Sebi asked Schneider to either list on exchanges or give an exit opportunity to existing shareholders.

Schneider shares were listed on Bangalore and Pune stock exchange that subsequently closed down after shareholders argued that Sebi order mandated that for excursively listed companies on RSEs to seek listing on national level stock exchanges.

Schneider Electric focuses on building automation and security, installation systems and control, power monitoring and control, critical power, and cooling services for electrical energy water, mariner, oil and gas, mine mineral and metal, construction sector.

The company has 30 active factories in India. Among these, five smart factories are located at Hyderabad, Bengaluru, and Chennai.

In October, Schneider’s Indian arm said that it aims to broaden its battery manufacturing scope, focusing on advancements in battery technologies and chemistries. Moreover, they are actively researching future battery technologies and evaluating most suitable options, both in terms of segment and chemistry.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

Media Contact
Company Name: ABC Private Limited
Contact Person: Media Relations
Email: Send Email
Country: India
Website: https://www.se.com/in/en/

Press Release Distributed by ABNewswire.com

To view the original version on ABNewswire visit: Schneider Electric set to re-list Indian arm on National Exchange after six years

Energy efficiency is the fastest & least expensive solution to decarbonisation, says Olivier Blum, EVP of Schneider Electric’s Energy Management Business

Olivier Blum, Executive Vice President of Schneider Electric’s Energy Management Business talks about the outcomes of the annual global IEA conference that took place in Paris earlier this year, and the critical role energy efficiency will play in solving the energy and climate crises.

Can you tell me about the International Energy Agency (IEA) conference? 

This year, Schneider Electric partnered with the IEA for its 8th Annual Global conference on energy efficiency, and it was a truly electrifying experience – pardon the pun. In the gilded halls of Versailles, outside Paris, I joined many other business leaders, policymakers and energy market experts to discuss a topic close to my heart and at the top of the climate agenda: the critical role of energy efficiency in tackling the climate and energy crises. It was three packed days of panels, workshops, and productive conversations that shone light on a topic that deserves the world’s attention.

Why is energy efficiency so important?

Far too often, decarbonisation efforts focus only on energy supply — think replacing gas-fired power stations with renewables like wind and solar. But this is only half of the story.

According to the IEA’s net-zero scenario, its pathway to decarbonise the energy sector (currently responsible for over 80% of global CO2 emissions), one-third of the emission reductions needed this decade must come from consuming energy more efficiently. Fortunately, the role that demand-side energy solutions can play is now more widely accepted — and widely available. The outcomes of the event’s public-private discussions outlined how a fair energy transition, underpinned by energy efficiency, and enabled by digitalisation and electrification, can drive accelerated decarbonisation while also addressing the energy crisis, reducing costs and increasing security of supply.

Can you tell me more about the Versailles 10×10 Actions?

The Versailles 10×10 Actions are a set of priorities needed to accelerate our efficiency and decarbonisation journey. None of the Actions can be delivered without first measuring and diagnosing current efficiency levels. For years, we have understood the efficiency of our cars but we don’t see this for our homes or buildings, despite the fact that it can be done relatively easily and inexpensively. We need to digitise consumption, connect and report in app for outcome-based performance. The power of digital innovation is crucial to visualise and act on energy waste.

Advanced energy management systems are widely available today and allow users to see and control the performance of every connected appliance within a home, an office, or an industrial facility. This birds-eye view of energy consumption offers the biggest potential to identify and eliminate waste.

Software systems built on AI algorithms help optimise how and when to consume, produce and store energy. In the absence of extensive grid upgrades, digital-enabled energy management systems connecting homes, offices, and other facilities with power grids are key enablers for resiliency and efficiency.

What skills will people need to deliver the Actions?

People increasingly want to do ‘something’, but they don’t know what. Sharing practical applications, one-stop-shop advisories, and lighthouse examples enable learning from best-in-class, real-life net zero homes, buildings and industries.

One of the topics that kept coming up at the IEA conference and one that is not to be underestimated is training people to have the right skills. Upskilling, reskilling and increasing resources will be critical to enable the energy transition. Action and discussion to-date has largely been about new construction, but the biggest impact will come from retrofitting, and this will require a large-scale mobilisation of expertise.

Training people with the skills to drive the transition will have the added bonus of stimulating job creation and delivering wider social and economic benefits. The biggest opportunities will be in emerging and developing economies. As the demand for energy efficiency grows, so does the need for a digitally skilled workforce to install, operate and service these connected systems. Electricians need to become software and smart tech experts, plumbers need to understand electrical installations for heat pumps. The transition will require a rapid evolution and expansion of skills.

How cost effective is energy efficiency?

As the Versailles 10×10 Actions state, there is a mentality shift needed from designers/architects and decision makers away from cost of construction and towards a project’s total cost of ownership (TCO). Construction typically represents around 20% of total cost, meaning much more thought needs to be given to the operation and maintenance of a building, with massive opportunities for efficiency.

Investment in energy efficiency has a very short, but also recurring payback, meaning continued savings well beyond ROI. Investment usually means cost, but efficiency is investing to remove cost, with green capital expenditures (CAPEX) effectively saving brown operating expenditures (OPEX). Financing models need to be optimised to recognise and support this.

What role do governments play in leading the energy transition?

The United Nations Environment Program estimates that buildings produce around 40% of global carbon emissions. The IEA has measured that energy efficiency, electrification and low-carbon energy have the potential to reduce more than 95% of these emissions by 2050.

While the onus to act is on every individual and organisation, particular responsibility falls on governments as they generally own huge property and infrastructure portfolios.

Companies are demonstrating increasing commitments towards net zero (the number of organisations signing up for the Science Based Targets Initiative, or SBTi, has been doubling year-on-year since 2018). The significance of government portfolios means they have a clear responsibility to become role models and demonstrate leadership in this area. According to the Versailles 10×10 Actions, this starts by creating a decarbonisation roadmap, in which companies audit each building’s energy performance and carbon impact to then strategise, digitise and decarbonise.

One example of a successful civic energy efficiency project is Schneider Electric’s partnership with Madison County School District in Alabama, USA. Here, district-wide energy-efficient lighting, heating, ventilation, and air conditioning are reducing energy costs by 40%. Over two decades, the district will have saved $40 million, more than paying for building control systems and future efficiency projects.

What are the best solutions to prioritise today?

There was a large consensus amongst attendees at the IEA conference that incentives are more effective than coercion (carrot vs stick), but when coercion is needed, there must be a horizon that allows people to review, plan and adapt for their transition.

When we hear examples of seven-year wait times to get new renewable infrastructure physically connected to the grid, clearly this is not acceptable. The time to bring green electricity online needs to be accelerated, with transmission lines made available much faster.

When it comes to tackling climate change, there has been a widespread tendency to revert to ‘big ideas’ or ‘silver bullets’ that are years away. Perhaps it’s human nature to want what we don’t have? The reality is that reliable, efficient and inexpensive solutions already exist, so we need to focus on adopting existing technology faster. Consider that around 60% of building emissions come from heating, but only 2% of homes have thermostats. We must tackle the biggest stakes today, deploy what we have, at scale, and start with the cheapest solutions.

The Versailles 10×10 Actions stress the need to aim for net zero construction everywhere, whether that be the huge new construction coming in emerging economies, or the ongoing construction in developed economies. In all cases, we must leverage existing, available technology for net-zero new builds.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Schneider Electric mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

Media Contact
Company Name: ABC Private Limited
Contact Person: Media Relations
Email: Send Email
Country: India
Website: https://www.se.com/in/en/

Press Release Distributed by ABNewswire.com

To view the original version on ABNewswire visit: Energy is the key to climate action says Schneider Electric

Dubai, United Arab Emirates – Schneider Electric, a leader in the digital transformation of energy management and automation, has announced Rochester Institute of Technology-Dubai (RIT-Dubai) as the winners of the UAE Youth Green Challenge – a collaborative initiative with the Arab Youth Center (AYC).

The winning project was led by Hariharan Ramesh and Farkh Leka Hashimy from Rochester Institute of Technology-Dubai (RIT-Dubai).

Designed to inspire UAE university students to share their innovative solutions for decarbonizing the industrial sector, the initiative is part of an ongoing programme between Schneider Electric and the Arab Youth Center. In May 2022, both entities collaborated across areas including upskilling, training, and mentorship. The collaboration aims to drive positive action and influence the youth to deliver on sustainability through innovative solutions.

The winning project, an interactive organic waste management app entitled ‘Eco Sync’ was among the six shortlisted submissions and assessed by a panel of expert judges. The project was awarded for delivering excellence across six key pillars: Innovation and Creativity, Environmental Impact, Feasibility and Scalability, Potential for Implementation, Communication and Presentation, and Interdisciplinary Collaboration. The app is designed based on a circularity model, aimed at transforming waste to usable organic compost for retailers, academia, healthcare, and eco-conscious residents.

Sadeq Jarrar, Executive Director, Arab Youth Center, commented: “Our partnership with Schneider Electric in this youth challenge contributes to strengthening our joint work to enhance the contributions of Arab youth to reduce carbon emissions associated with the industrial sector in the region. We are confident that our cooperation will add to this challenge with meaningful initiatives in the future.” “It makes young people ambassadors for the values of sustainability, and we confirm the continuation of our efforts as promising leaders in the field of sustainability locally and globally.”

Asli Cakir, Gulf Vice President of Human Resources, Schneider Electric, said: “The success of the UAE Youth Green Challenge highlights the potential of the youth in driving sustainability and climate action. This collaboration with Arab Youth Center will help translate their commitment into actionable results. We were impressed with the quality, interoperability and design of the innovative AI-integrated app built by the winners; the solution reinforces the importance of effective waste management strategies in reducing greenhouse gas (GHG) emissions by more than 4%.”

Cakir added: “We are excited to welcome the winners of this challenge to be part of our Schneider Electric internship programme at our Dubai office, where they will have the opportunity to be an integral part of our region’s sustainability story.”

Schneider Electric is also part of the Arab Technology Fellowship for Arab Youth, the regional initiative enabling Arab youth to bridge the gap in skills utilized across various technology disciplines, including ICT, digital transformation, innovation, and interactive emerging technologies.

­­­­­­About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software, and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure, and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

Media Contact
Company Name: ABC Private Limited
Contact Person: Media Relations
Email: Send Email
Country: India
Website: https://www.se.com/in/en/

Press Release Distributed by ABNewswire.com

To view the original version on ABNewswire visit: Arab Youth Center and Schneider Electric award UAE’s youth sustainability leaders at COP28