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Italian multinational energy firm Enel has adopted new sustainability goals in line with standards promoted by the UN Global Compact, the Science Based Targets Initiative and the We Mean Business coalition.

Enel has agreed to become net-zero by 2050. This means the energy firm is the only one in Italy to take up the UN net-zero emissions commitment.

The energy firm has committed to pursuing the goal of limiting the maximum global temperature increase to 1.5 degrees from pre-industrial levels.

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The net-zero commitment has been signed by 28 companies with a total capitalisation of $1.3 trillion

Enel has agreed to a ‘just’ transition and to accelerate the creation of green and dignified jobs.

The utility will increase its investments in technological, social and economic transformation.

Enel’s energy transition efforts include 11.6 billion euros in renewable energy investments by 2021 and 11.1 billion euros in networks.

Enel, via its subsidiaries, has increased its renewable energy capacity to 43GW to become the largest renewable energy player in the world. The Italian utility has the largest private electric distribution network globally, of which 60% of end-users are already digitalised.

The firm’s demand response capacity is 6GW and has become a leader in e-mobility with plans to install 455,000 public and private EV charging points by 2021.