Italian multinational utility Enel has been included in the prestigious ‘A List’ for climate change released by non-profit organisation CDP.
CDP monitors business performance on the fight against climate change. Enel’s Spanish subsidiary Endesa has been rated with an A-.
The award recognises Enel’s climate reporting throughout 2019 as well as its management and transparency with regards to climate-related issues at both Board and Management levels.
The naming recognises measures implemented by Enel to mitigate climate risks by boosting renewables and phasing out thermal capacity, all as part of efforts to reduce carbon emissions.
Over 8,400 companies participated in the assessment process and have been ranked from A to D.
Climate action measures adopted by Enel in 2019 include:
- Set a 2030 target to reduce its direct greenhouse gas emissions per kWh by 70%, from a 2017 base-year.
- Set a goal to develop 14.1GW of new renewable capacity and reduce coal production by 74% by 2022.
- Invest 28.7 billion euros in the energy transition.
- The Group has set a target to completely decarbonise by 2050.
- The presence of Enel in the Dow Jones Sustainability Indices, the FTSE4Good Index series, the Euronext Vigeo-EIRIS indices, the STOXX Global ESG Leaders indices, the OEKOM “Prime” rating, the ECPI indices, and the Thomson Reuters/S-Network ESG Best Practices Indices.
Francesco Starace, the CEO of Enel, said: “Our inclusion in CDP’s A List is a recognition of our active commitment to addressing climate change by promoting the decarbonization of energy generation systems while contributing to cut emissions in other sectors through the electrification of energy demand.
“The strategic choice we made in 2015 to switch to a sustainable, integrated business model allowed Enel to position itself as a leader in the transition towards a zero-emission economy, in order to be best prepared for the challenges of climate change.”