Legrand unveils its 5th CSR roadmap, covering 2022-2024
Limoges, FR, March 29, 2022- At its virtual ESG (Environment, Social & Governance) event on March 29, 2022, Legrand will unveil its 5thsustainable development (CSR1) roadmap covering 2022-2024. Featuring CEO Benoît Coquart, Executive VP CSR Virginie Gatin and CFO Franck Lemery, this meeting will be broadcast live and available for replay on the Group’s website.
Under its 5th CSR roadmap, Legrand is amplifying its impact through an action plan built around 4 pillars and 15 priorities2, that contribute to 10 UN Sustainable Development Goals (SDG):
- Reducing our carbon footprint, with the following goals:
- Reducing direct (Scope 1 & 2) and indirect (Scope 3) emissions, in line with our 2030 SBTi-validated targets to keep global warming to 1.5°C;
- Helping our customers avoid emissions totaling 12 million tons of CO2 over the duration of the roadmap, by using our energy efficiency solutions for buildings, which represented around 21% of Group sales in 2021;
- Promoting diversity and inclusion, with 2024 targets that include:
- Ensuring 30% of management positions (Grade Hay 14 and more) are held by women;
- Offering 4,000 new opportunities to early-in-careers each year;
- Developing the circular economy, with initiatives for 2024 that include:
- Accelerating the use of recycled material in our products (targeting 15% for plastics and 40% for metals);
- Phasing out single-use plastics, by eliminating flow-pack and expanded polystyrene in packaging;
- Pursuing its actions as a responsible business, with a focus on:
- Enrolling 100% of our employees in our “Serenity On” program, which guarantees minimum social coverage;
- Achieving 90% of sales made to satisfied customers;
- Further reducing our workplace accident rate, with and without lost time (FR2), by -20% between 2022 and 2024
- An integrated approach, making extra-financial performance processes as demanding and transparent as those applied to operations and finances;
- Making CSR performance a significant share of the variable portion of managers’ and senior executives’ compensation (for example, 17.5% of the CEO’s total annual compensation target for 2021 was linked to CSR performance criteria);
- Strict alignment of this extra-financial approach with our strategic roadmap presented in September 20213, in particular its medium-term financial targets; and
- Exemplary, fully committed governance bodies, with a focus by Angeles Garcia-Poveda featured during the event – Ms. Garcia-Poveda is the independent Chairwoman of Legrand’s Board of Directors.
In line with Legrand’s stated purpose of “improving lives”, while strengthening its involvement in the value chain and more particularly with suppliers, we are pursuing a demanding and ambitious ESG policy that drives profitable and responsible growth for all stakeholders.
On Legrand’s website, the detailed presentation made at the event and a link to the webcast can be found with the following link: https://www.legrandgroup.com/en/investors-and-shareholders/capital-markets-days/esg-capital-markets-day-2022.
About LegrandLegrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential markets makes it a benchmark for customers worldwide. The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing its strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings—including products with enhanced value in use (faster expanding segments: datacenters, connected offerings and energy efficiency programs). Legrand reported sales of €7.0 billion in 2021. The company is listed on Euronext Paris and is notably a component stock of the CAC 40 and CAC 40 ESG indexes. (code ISIN FR0010307819).
1 CSR: Corporate Social Responsibility
2 For more information on goals set out in our fifth CSR roadmap, readers should consult the media kit at legrandgroup.com
3For more information, readers are referred to the press release dated September 22, 2021.