Schneider Electric re-ups commitment to Livelihoods Carbon Funds focusing on natural resource restoration
Schneider joins the third iteration of Livelihoods Carbon Funds to restore natural ecosystems and lower carbon emissions
Schneider commits to fund for third time since 2011
The 20-year commitment includes financial investment as well as strategic direction and consulting
SEOUL--(Korea Newswire) July 12, 2021 -- Schneider Electric, the leader in the digital transformation of energy management and sustainability, announced today that it is joining the third Livelihoods Carbon Funds(LCF3) to support local communities in restoring natural ecosystems. This is the third iteration of the fund Schneider has joined with Livelihoods since its inception in 2011.
The Livelihoods Carbon Fund is a novel investing model to finance projects with measurable environmental and social benefits. These projects often require heavy up-front investments and are usually tied to the member-companies’ strategic corporate initiatives. However, unlike typical investment funds, the 15 participating corporations do not receive cash dividends. They are compensated through carbon credits that are certified by independent organizations, such as Gold Standard and VERRA, who meet the highest international standards. These credits help the investing companies reach their own sustainability goals in addition to carbon-reducing initiatives.
The LCF3 has already raised €150 million in contributions from 15 corporations to be used for large-scale natural ecosystem restoration, agroforestry, and renewable energy projects in developing countries. Joining Schneider Electric are corporations including Chanel, Danone, Mars Incorporated, and SAP with the goal of improving the lives of 2 million people living in climate-vulnerable communities.
Schneider Electric has committed to a 20-year involvement to promote sustainable ecosystems and access to rural energy. The commitment is more than just financial. Schneider and the other participating corporations help shape the vision and long-term strategic direction of the fund.
The LCF3 is a natural fit for Schneider Electric as sustainability is core to the company’s strategy. For the past 15 years, Schneider has undertaken a holistic sustainability program with the specific ambition to advance on the 17 United Nations Sustainable Development Goals.
The Livelihoods fund ensures a direct involvement with the people and communities who care for and cultivate land in rural and often remote places. These communities are at the forefront of the fight to maintain the world’s natural resources and biodiversity and are often the most adversely affected by the dangers of climate change. Maintaining biodiversity is an increasingly urgent challenge that must be solved to limit food insecurity, habitat loss and unsustainable resource use. Schneider Electric recently announced its pledge to achieve net-zero biodiversity loss from its operations by 2030.
In addition to reducing its own CO2 emissions, Schneider has also committed to limiting the carbon emitted by its supply chain, partners and customers. The company currently earns 70% of its revenue from sustainable solutions. As a result of this company-wide push to protect the climate, earlier this year, Schneider was named the world’s most sustainable corporation by the research company Corporate Knights.
For Schneider Electric Energy & Sustainability Services
THE SPRING COMPANY
This is a news release distributed by Korea Newswire on behalf of this company.