Legrand Unveils Its 5th CSR Roadmap, Covering 2022-2024

Rhea-AI Summary

Legrand announces its 5th sustainable development roadmap at a virtual ESG event on March 29, 2022. The roadmap spans 2022-2024 and focuses on four main pillars: reducing carbon footprint, promoting diversity, developing a circular economy, and responsible business practices. Key targets include reducing emissions by helping customers avoid 12 million tons of CO2, ensuring 30% of management roles are held by women, and using 15% recycled plastics in products. The event features CEO Benoît Coquart and CFO Franck Lemery.

Positive

• Legrand aims to help customers avoid emissions totaling 12 million tons of CO2, enhancing its sustainability profile.
• Targets include ensuring 30% of management roles are held by women, promoting gender diversity.
• Plans to incorporate 15% recycled plastics in products, aligning with circular economy goals.

Negative

• None.

LIMOGES, France--(BUSINESS WIRE)-- Regulatory News:

At its virtual ESG (Environment, Social & Governance) event on March 29, 2022, Legrand (Paris:LR) will unveil its 5^th sustainable 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 5^th 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 totalling 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.

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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 https://www.legrandgroup.com/sites/default/files/Documents_PDF_Legrand/RSE/2022/DP_CSR_2022_1648213188.pdf.

Started in 2004, Legrand’s CSR approach has significantly reduced the Group’s negative externalities, while bringing together all employees. Our successful policy, deployed through four previous CSR roadmaps, with audited results since 2015, is underpinned by:

- 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 2021¹, 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.

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¹ For more information, readers are referred to the press release dated September 22, 2021.

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Key financial dates:

• 2022 first-quarter results: May 5, 2022
  “Quiet period¹” starts April 5, 2022

• General Meeting of Shareholders: May 25, 2022

• Ex-dividend date: May 30, 2022

• Dividend payment: June 1, 2022

• 2022 first-half results: July 29, 2022
  “Quiet period¹” starts June 29, 2022

About Legrand

Legrand 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).

https://www.legrandgroup.com

Disclaimer

This press release may contain forward-looking statements which are not historical data. Although Legrand considers these statements to be based on reasonable assumptions at the time of publication of this release, they are subject to various risks and uncertainties that could cause actual results to differ from those expressed or implied herein.

Details on risks are provided in the Legrand Universal Registration Document filed with the Autorité des marchés financiers (Financial Markets Authority, AMF), which is available on-line on the websites of both AMF (www.amf-france.org) and Legrand (www.legrandgroup.com).

No forward-looking statement contained in this press release is or should be construed as a promise or a guarantee of actual results, which are liable to differ significantly. Therefore, such statements should be used with caution, taking into account their inherent uncertainty.

Subject to applicable regulations, Legrand does not undertake to update these statements to reflect events or circumstances occurring after the date of publication of this release.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy Legrand shares in any jurisdiction.

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¹ Period of time when all communication is suspended in the run-up to publication of results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005788/en/

Investor relations

Legrand

Ronan Marc

Tel: +33 (0)1 49 72 53 53

ronan.marc@legrand.fr

Source: Legrand

FAQ

What are the key components of Legrand's 5th sustainable development roadmap?

Legrand's roadmap emphasizes reducing carbon footprint, promoting diversity and inclusion, developing a circular economy, and responsible business practices.

What emissions reduction goal does Legrand aim to achieve by 2030?

Legrand aims to reduce direct and indirect emissions, helping customers avoid a total of 12 million tons of CO2.

When will Legrand's 5th sustainable development roadmap be unveiled?

The roadmap will be unveiled at Legrand's virtual ESG event on March 29, 2022.

What percentage of management positions does Legrand target to be held by women by 2024?

Legrand targets to have 30% of management positions held by women by 2024.

What is Legrand's sales figure for 2021?

Legrand reported sales of €7.0 billion in 2021.