APC 2010 Annual Report Download - page 84

SUSTAINABLE DEVELOPMENT
2SCHNEIDER ELECTRIC, ARESPONSIBLE CORPORATECITIZEN
The SEEA fund brings together different stakeholders by encouraging
Schneider Electric’s employees and business partners around
the world to play an active role in this commitment. This socially
responsible fund structure, designed by Schneider Electric to
promote responsible development, constitutes an original and
innovative response to the new French legislation on employee
savings schemes: a new societal commitment shared by the entire
corporate community (see page 78 – Employee share ownership). In
2010, 1,500employees of the France Group showed their interest in
the Bipbop program, by investing a little over EUR2million.
The aim of the SEEA fund is to promote development while protecting
the assets under management. Accordingly, it has adopted strict
management rules, such as:
•always invest in partnerships with recognised players;
•never take a majority shareholding;
•always ensure sustained company support (help develop a
business plan, technical advice, etc.) to deliver the optimum
social effi cacy while minimising risk.
>SEEA FUND INVESTMENT POLICY
France
projects
International
projects
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Sectoral
specialization
Geographical
targets
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Methodological
rules
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Investment type
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Main action plans in 2010
Investments in France
La Foncière Chenelêt is a Chenelêt Group employment opportunity
company formed to counter energy precariousness by creating
energy-effi cient social housing. Moreover, construction sites bring
together employment opportunity companies and conventional fi rms
to promote rehiring of the unemployed.
The SIDI (International Solidarity for Development and Investment) is
an investment fund that assigns priority to the impact on development
relative to return. The fund is an important partner of SEEA and is
particularly active in the microfi nance sector.
Solasyst is a company of “La Varappe” employment opportunity
group based in Aubagne, France. The company specialises in
renewable energy solutions and has developed specifi c skills in
integrated solar panel installation. Backed by SEEA’s investment,
Solasyst will open two new branches in the south of France.
Partnership with the ADIE
Schneider Electric set up a project two years ago in partnership
with the Association pour le Droit à l’Initiative Économique (ADIE)
to help entrepreneurs start electricity-related businesses. The goal
is three-fold:
•help individuals who have in some cases been out of the
workforce for several years create their own jobs in a promising
industry;
•contribute to the local economy;
•promote the electrical profession.
The project targets entrepreneurs who do not have access to
bank loans, notably the unemployed and low-income individuals.
Schneider Electric and Schneider Initiatives Emploi, an association
that nurtures spin-offs, fi nance part of the microloans granted to
electrical businesses through ADIE. Schneider Electric’s French sales
division has also created a pact with dedicated technical training
resources combined with support from a local sales representative
to help these entrepreneurs.
109businesses received support in 2010.
Investments internationally
No transactions were concluded as part of the SEEA international
portfolio in 2010; however the fund formed relationships with a
number of companies through its partners. These relationships led
to the acquisition of minority interests in a Senegalese company
involved in the distribution of photovoltaic solar panels in rural areas
(Kayer SARL, agreement signed on February8,2011).
2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC82