Vedanta to exclude base metals business from sweeping demerger
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Schneider Electric, ranked by TIME as the world’s most sustainable company, announced it has partnered with Glencore (LON: GLEN) to transform its copper supply chain and improve decarbonization efforts.
S&P Global estimates that demand for copper will double by 2035, and warns the looming supply gap could short-circuit the green energy transition.
Schneider Electric is an existing partner in the recycling of lithium-ion batteries, working with Glencore and their portfolio company, Li-Cycle. It is also working towards a copper and electronic waste take-back program and shifting its supply chain by directly acquiring raw materials from Glencore and distributing them through its network of sub-suppliers to its European factories.
The partnership entails developing high-efficiency, low-carbon procurement specifications for capital equipment supporting ‘best practices’ aligned to Schneider Electric’s Zero Carbon project.
Schneider said it is designing and deploying power and energy management systems with measurement and analytics features, helping Glencore to monitor and report on energy consumption more accurately.
To support Glencore in lowering the carbon intensity of its raw material supply, Schneider said it is also providing industrial digital transformation services and process electrification consulting services.
“The relationship between Schneider Electric and Glencore is built on the joint aim of decarbonizing copper production and building resilience in its supply,” Schneider Electric president of mining, minerals & metals Rob Moffitt said in a news release.
“In the past, lowering emissions has been a challenge due to the complexity of supply chains, however, by leveraging digitization we are able to close the material loop and boost our circularity. This, together with integration of power and process all along the asset life cycle, is a critical component in our race towards net zero,” Moffit said.
Glencore’s head of copper and cobalt marketing Jyothish George said the company plans to use Schneider’s tools and solutions to digitize and decarbonize its raw material supply chains and operations.
“This collaboration will enable both companies to establish circular supply chains, lowering their respective carbon footprints, George said.
