Schneider Electric

Energy
457
EPA:SU
France

[email protected]

Invensys

On June 1, 2020, the Ohio Police & Fire Pension Fund identified Schneider Electric on its scrutinized companies Iran/Sudan list

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In 2019, the California State Public Employees Retirement System (“CalPERS”), identified Schneider Electric as potentially having business operations in Iran and began the review process to determine whether Schneider Electric meets the threshold criteria for consideration under the [2019 California Public Divest from Iran] Act.  CalSTRS and CalPERS are the top two largest public pension funds in the United States with more than $550 billion in total assets under management combined.  

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"Schneider Electric, an energy management specialist, has done business in Iran since the 1970s and continues to have an office there, according to its Web site." From 2000-2009, the company was a recipient of $348.8 million US federal funds.  Their investments in Iran are currently active.  (The New York Times "Profiting from Iran, and the US," 3/6/2010)

“For your information, we have also been in contact with [CALPRS] in late 2019 and 2020 on the same matter.…We have ceased all in-country operations in Iran. Going forward our non-US subsidiaries only work with private partners outside Iran…As pointed out in your letter, there is no reference to Iran on our website… We are taking the necessary remedial actions to have the website taken down and on June 1, 2020 filed a formal complaint with the WIPO.” (6/19/2020)