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The Threefold Approach to Energy Transition

Stéphane Suveg

Stéphane Suveg

Finance Business Development Director at Schneider Electric

Stéphane Suveg - Finance Business Development Director - Schneider Electric

Decarbonising operations is a challenge that all organisations face. However, the strategies for driving this change vary across businesses. This article discusses Stéphane Suveg’s threefold approach to energy transition, and Schneider Electric’s success from doing so.  

Electrification 

Stéphane clearly outlined electrification, digital transformation, and collaboration as his strategy for decarbonisation. He remarked “a world which will be more electrical and more digital” is the “key” to addressing “this climate crisis”, followed by stating that electricity is more efficient than all other energy forms. By 2040, he states that electrical energy consumption will more than double. Stéphane also highlighted that both wind and solar energy being generated will increase by 600% by 2040. McKinsey go as far as highlighting that the consumption of electricity will triple by 2050, supporting Stéphane’s claims. This rapid increase in consumption is attributed to rising living standards around the world, and the ease of implementing electrical infrastructures.  

Digital transformation

Developing his prior point, Stéphane highlighted that digital transformation is “making electricity greener”. Stepping beyond digitalisation reducing paper consumption, the digitalisation of operations within organisations increases digital efficiency. Increasing digital efficiency reduces energy consumption levels, lowering an organisation’s carbon footprint. Due to their innovative strategies for decarbonising organisations, Stéphane was proud to announce that Schneider Electric was crowned as the world’s most sustainable corporation by Corporate Knights in 2021.  

Collaboration  

In response to being asked about his perspective on responses to requirements outlined during COP26, Stéphane referred to the Net Zero Banking Alliance. This scheme was introduced to reduce emissions associated with investment portfolios and lending to net zero. Stéphane then focused on some of Schneider Electric’s partnerships. Through these, the company assisted other organisations with their decarbonisation ambitions. He drew upon a few key examples of where Schneider Electric has defined and implemented decarbonisation strategies. Companies mentioned included the likes of Blackstone, EQT and Unite Overseas Bank. In these instances, companies utilised Schneider Electric technologies to automate their digital ecosystems. This helped highlight environmental weaknesses across their organisations.

We hope you’ve enjoyed learning more about Stéphane’s threefold approach to energy transition as much as we have. If you’d like to be part of the conversation and join future pressing debates, discover CONNECT CFO today >>