In a new video Nexans, Global Data & Analytics Director Fatima Addakiri explains how the company is leveraging partner technologies including Cosmo Tech’s 360° Simulation Digital Twins in pursuit of its sustainable development objectives.
Already differentiated by its silo-breaking 3P (People, Planet, Profit) approach, Nexans recently developed a new performance management tool called E3. E3 measures the performance of Nexans business units across three dimensions: the economic, the environmental, and in terms of engagement. Individual performances are scored in line with three related KPIs: the Return on Invested Capital, the Environmental Return on Carbon Employed, and the Return on Skills Employed. Nexans requires that each business unit will have to adhere to this unique, virtuous and holistic performance model and that, although profit remains the key source of income for the company, it must be used wisely to protect the planet and provide employees with an enriching work environment and quality of life.
Nexans developed the digital solution to measure, model, and simulate their E3 performance in conjunction with four strategic partners: Microsoft, Schneider Electric, Shippeo and Cosmo Tech. Nexans uses this solution to award an internal ‘license to operate’ to business units that meet their E3 targets.
“Surprisingly or not, the most profitable units (named ‘profit drivers’ and ‘innovation drivers’) are also ‘green drivers’,” explains Addakiri in the Nexans video, “while the ‘value burners’ having financial difficulties appear to be ‘resource burners’, meaning polluters.”
After a successful year in 2021, this digital solution is a key element in ensuring that the company meets its commitment to be carbon neutral by 2030.
“This is a tool to bridge economics and environment, a tool to show that profit cannot be detrimental to the planet,” explains Nexans VP Sustainability Olivier Chevreau in the video, and he adds that this tool has helped to embed E3 in the company’s operations and performance management systems.