Presentation of The Shared Value Debate: academic visions on Corporate Sustainability, published by the Fondazione Centro Studi Enel
Milan, October 1st, 2013 Integrating sustainability in a companys business strategy to create shared value with all stakeholders is the central theme of the celebrations of the 10th anniversary of the Enel Sustainability Report. The first opportunity to retrace the path of the Group's Corporate Social Responsibility efforts was the opening conference of the CSR and Social Innovation Exhibition organized at Bocconi University in Milan, Italy. The event was attended by the Chairman of Enel, Paolo Andrea Colombo, the Rector of Bocconi University, Andrea Sironi, the Chairman of the Culture Committee of Confindustria, Alessandro Laterza, and the Chief Advisor for Innovation in Reporting of the Global Reporting Initiative, Nelmara Arbex. During the conference, the book The Shared Value Debate: academic visions on Corporate Sustainability, published by the Fondazione Centro Studi Enel, was presented.
The social integration of companies represents a new vision of the relationship between business and society, commented Enel Chairman, Paolo Andrea Colombo, Corporate Social Responsibility is becoming key in company management. In Enel, CSR has a well-defined meaning: pursuing a strategy of planning, monitoring and reporting of all medium and long-term policies relating to transparency, anti-corruption, environmental preservation, relations with communities as well as with the people working for and with Enel. To do so, the key concept of responsibility is for us at the core of such model. This also means carrying out a constant dialogue with all our stakeholders.
Over the last 10 years, the results of the Sustainability Report, remarked Fulvio Conti, CEO and General Manager of Enel, have shown the far-reaching process of integrating CSR into our Groups strategy. This activity has created value for our company, for our stakeholders and, not least, for our shareholders. This is confirmed by the size of the shareholding held by socially responsible funds among Enels institutional free-float, which has risen to 14.6% as of today, and the reaffirmation of Enels inclusion in the Dow Jones Sustainability Index for the 10th year in a row.
For 10 years Enel has supplemented its financial reporting documents with the publication of the Sustainability Report, which over the years has followed Enels journey through the stages of Corporate Social Responsibility towards adoption of the Creating Shared Value (CSV) approach, making social and financial responsibility factors of competitiveness. The journey has been marked by both the implementation of changes in the development of reporting over the past decade and by the Group's international expansion, which has made it a major player in the global energy market and a leader in sustainability.
The book The Shared Value Debate: academic visions on Corporate Sustainability, published by the Fondazione Centro Studi Enel and presented during the celebrations, looks at the role of business in society and the importance of integrating sustainability in business as creating shared value. Starting with an analysis of the system, the book examines the link between competitiveness and societal well-being, taking into account the role of companies and their ability to integrate the principles of sustainability in balancing short and medium/long-term interests. Utilising this new business model has been made possible by external factors that have encouraged the adoption of a new model for creating shared value.
The first version of the Enel Group Sustainability Report dates back to 2002. It was a report to stakeholders that outlined Enels environmental and social commitments alongside its main financial and performance figures. Starting from 2006, Enel adopted the guidelines of the Global Reporting Initiative, the most recognized standard for sustainability reporting, ensuring the maximum transparency and completeness of the information provided. The methodology has since evolved and Enel, in order to keep up with the increasingly integrated reporting requirements, has gradually included the most important environmental, social and governance performance indicators in its consolidated annual financial report.
In 2012, Enel became one of the first companies in the world to report on its strategic positioning in terms of sustainability using so-called materiality analysis in its Sustainability Report. Materiality analysis is a method that links the guidelines of the business plan with the most important issues and higher expectations of its stakeholders.
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