Latin America. In announcing its 2023 sustainability impact performance data, which is part of its financial results, Schneider Electric highlighted that the organization's score exceeded expectations reaching 6.13 out of 10, increasing the year-end target from 6 out of 10.
Schneider Electric was also recognized as one of the top performers by independent environmental, social and governance organizations throughout the year. It should be understood that ESG assessments are a strategic tool to help investors analyze sustainable business models and identify sustainability-related risks and opportunities.
Schneider Electric's efforts during the hottest year on record, with a global average temperature of 14.98°C, are more than significant. It highlights joint initiatives to decarbonize business operations and value chains, which can avoid the effects of global warming and accelerate the transition to a cleaner and fairer world.
Three years after the start of the Schneider Sustainability Impact (SSI) program, Schneider Electric's solutions for electrification, digitalization and automation continue to reduce customers' carbon emissions, with 112 million tons saved and avoided in 2023 alone.
Great strides have also been made in transforming Schneider Electric's supply chain. Carbon emissions from the organization's top 1000 suppliers have decreased by 27%, a significant advance compared to the 10% reduction achieved in 2022. 21% of the company's most strategic supply chain partners have met Schneider Electric's decent work standards.
The company's efforts to make more responsible use of resources have also yielded important results. Today, 63% of Schneider Electric's product packaging is free of single-use plastic and is being made from recycled cardboard.
The company's commitment to closing the energy access gap has also progressed apace: 46.5 million people now have access to clean, reliable electricity thanks to Schneider Electric's initiatives around the world. Equally, more than 578,000 people learn new skills to address the energy future of their communities' needs.
On the external ESG rating front, Schneider Electric has maintained its status as a sustainability leader in the Dow Jones Sustainability Index (DJSI) and Corporate Knights' list of the World's 100 Most Sustainable Corporations for the thirteenth consecutive year, earning high scores from Moody's Analytics, CDP and EcoVadis with a platinum medal.
All of these accomplishments are incorporated into the company's short- and long-term salary incentive plans, underscoring the company's commitment to sustainable performance.
More details on SSI's 2023 results and other highlights are available in the sustainability impact report which you can view by clicking here.
