A commitment to combating climate change and creating sustainable progress cannot be based solely on statements of intent but must also be shown in results and numbers, measures implemented and actions put into effect. Transparency, solidity and reliability must guide companies’ reporting to meet the needs of everyone, from investors in the communities to customers, authorities and public opinion, thereby enabling the measurement of the real impact of decisions taken and investments made.
The Enel Group, which is the world’s largest private renewable energy operator and Italy’s leading company in terms of market capitalization, has integrated sustainability into its business model, into its strategy and also into its reporting system. This is in order to respond in a flexible manner to the challenges linked to climate change and to seize the related opportunities on the journey towards a just, inclusive and resilient energy transition.
In a new, digital form Integrated Reporting presents the economic, social, environmental and governance information all together, enabling everyone, and not just the experts, to understand the scope of the choices made and the value of the operations carried out by the Group.
And this is how Enel is implementing “Open Power for a Brighter Future: we empower sustainable progress”, which is inspiring the creation of value for, and with, all our stakeholders in the short, medium and long term.
Integrated Reporting 2020 - Beyond Reporting, Empowering Sustainable Progress, expresses Enel’s commitment by presenting, in an interconnected and navigable way, all the information contained in various documents: the Integrated Annual Report, Enel SpA’s Financial Statement and Report, the Sustainability Report, the Remuneration Policy Report and the Corporate Governance and Share Ownership Report.
“Integrated Reporting 2020 is Enel’s new way of communicating its capacity to generate sustainable value for all in the short, medium and long term,” explains Alberto de Paoli, CFO of the Enel Group. “The new concept of stakeholder capitalism that is guiding our actions has enabled us to identify and understand the needs of our stakeholders and to create an interactive and interconnected form of communication. This allows us to integrate the available information into our documents to provide a holistic view of our Group and its process of value creation through a sustainable business model.”
The added value of the new, navigable Integrated Reporting lies in the circularity of the information. This is made possible by its digital format, which, by moving beyond the dimensions of the individual reporting documents, introduces a form of communication with defined pathways and themed areas that facilitate the interconnected and personalized navigation of the content based on specific areas of interest and contexts to be examined in depth. It enables readers to find out more about the Group, its sustainable business model, its strategy, its process of value creation and its commitment to fighting climate change.
“Through a shared form of storytelling, we want to use an innovative way to share Enel’s strategy, its sustainable, integrated business model,” explains Ernesto Ciorra, Chief Innovability Officer at the Group. “In this way, we are highlighting Enel’s vision which combines sustainability and innovation, where the driving force for change and the creativity of our staff are guiding the Group’s constant commitment. This is in harmony and synergy with all of our stakeholders, the social contexts in which we operate, our industrial partners, the financial community and our employees. Only in this way will we be able to truly create sustainable progress, in line with the UN’s Sustainable Development Goals (SDGs).”
The reporting system confirms and reinforces the “Core&More” approach, which views the Integrated Annual Report as a “Core” document that is flanked by “More” in-depth, detailed documents to satisfy the requirements of various categories of stakeholder: the Sustainability Report, the Enel SpA Financial Statements, the Corporate Governance and Share Ownership Report and the Remuneration Policy Report.
The common theme is that of a just, inclusive and resilient energy transition for the fight against climate change which is at the center of Enel’s business model and strategy. As a Renewables Super Major, in fact, Enel has decided to raise the bar as we head towards 2030, aiming to achieve 145 GW of capacity from renewable energies compared with the current 49GW. Integrated Reporting provides the main information on the Group’s roadmap towards decarbonization, outlining performance, the innovative tools adopted and commitments made, including achieving the UN’s Sustainable Development Goals (SDGs).
With Integrated Reporting 2020 - Beyond Reporting Empowering Sustainable Progress, Enel confirms its pioneering role in corporate reporting, adopting the latest standards requested by the Global Reporting Initiative (GRI), the guidelines drawn up by the International Business Council (IBC) of the World Economic Forum (WEF). This is in addition to the indicators suggested by the Sustainability Accounting Standards Board (SASB) for the “Electric Utilities & Power Generators Sector.” Furthermore, we have provided (one year ahead of schedule) the information requested by the European Union Taxonomy, a classification system intended to provide businesses and investors with a common language for identifying economic activities that can be considered eco-sustainable.