Schneider Electric Named among Ethisphere Institute’s 100 World's Most Ethical Companies.
Schneider Electric, the global specialist in energy management, today announced it has been ranked among the Top 100 World’s Most Ethical Companies for the second year in a row. The distinction recognizes the Group’s efforts to promote the highest ethical behaviour in business.
The list is released by Ethisphere Institute, a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability.
Schneider Electric’s ranking reflects its concentrated effort over the course of several years to implement and maintain upright business practices and initiatives that contribute to the Group’s success and raise the bar for ethical standards within the industry.
Jean-Pascal Tricoire, President and CEO of Schneider Electric, said: “We are convinced that the stability and performance of a company reside in responsible values and practices towards the management of people and the relationship with customers and suppliers. The nomination recognizes our progress and encourages us to do even better.”
In 2002, Schneider Electric initiated a framework ‘Principles of Responsibility’ to counter issues such as environmental concerns, ensure responsible management behaviours and avoid harassment or discrimination. The guideline that was updated in 2009 outlines sectorial policies for purchasing, quality, and the environment, besides serving as a reference point for the company to refrain from violations such as bribery, fraud or conflicts of interest.
In 2010, Schneider Electric deployed new processes and organizations including the ‘Responsibility and Ethical Dynamics’ programme to ensure employee awareness of the guidelines and facilitate support in the face of an ethical dilemma.
As part of its agenda for 2012, Schneider Electric’s Executive Committee members pledged to comply with the principles of ethical business practice and signed an individual letter of pledge for each value. The initiative came in response to an audit conducted in 2011 that revealed 75 per cent of Schneider Electric employees believe responsibility and ethical practices are a competitive advantage for the Group. Furthermore, 15,000 employees from Schneider Electric completed the e-learning course for ‘Principles of Responsibility’ in 2010.
Schneider Electric also featured in Ethisphere’s list of 100 World's Most Ethical Companies during 2011, becoming one of two French companies that made it to the ranking.