Enel’s involvement in the leading sustainability organizations and networks
The Group plays an active role in various energy-related and multi-stakeholder associations and organizations with the aim of promoting issues relating to a just energy transition and the fight against climate change, both nationally and globally. This is fully in line with the goals of the Paris Agreement and the Group’s own decarbonization roadmap. Enel is committed to the United Nations Sustainable Development Goals (SDGs), demonstrating active participation, transparency and consistency. This is also through involvement in numerous programs, projects and work groups to support its increasing engagement on ESG issues.
United Nations Global Compact (UNGC)
Enel has been committed to the United Nations Global Compact since 2004, adhering to its ten founding principles regarding human rights, labor standards, environmental protection, and anti-corruption. In 2022, Enel continued its participation, this time in the area of Sustainable Finance at the “CFO Coalition for the SDGs,” where it holds the co-chairmanship and is also part of the new Advisory Board. Enel is also a member of the Just Transition Think Lab, as well as a Patron Sponsor of the new Transformational Governance portfolio, an initiative aimed at exploring new decision-making models to help businesses be more responsible, ethical, inclusive, and transparent. Furthermore, the Group took part in Uniting Business LIVE, organized by the Global Compact during the week of the United National General Assembly.
Sustainable Energy for All (SEforALL)
Beginning in 2011, Enel has been a partner of Sustainable Energy for All, an international organization that collaborates with the United Nations as well as global leaders from the public and private sector to advance SDG 7. Since 2020, the Enel Group CEO has chaired the organization’s Administrative Board, a role it will hold until 2023. Enel continued to uphold its commitment to the Energy Compacts throughout 2022. Besides the Group’s Energy Compact and the one focusing on the green electrification of Sardinia launched in 2021, the Group presented the Santiago Energy Compact to boost photovoltaic capacity and promote end-use electrification in the city of Santiago de Chile, which also contributed to progress on SDG 7 as reported in the 2022 Annual Progress Report. In 2022, Enel also took part in the SEforALL Forum which was held in Kigali from May 17th to May19th.
Enel has been a member of CSR Europe since 2005. From 2016 to 2020, the Group held the vice-chair of the Board of which it is currently a member, and was re-elected in 2022 for another 3-year term. Enel also joined the organization’s new flagship initiative, the “Leaders Hub for an Inclusive Green Deal,” which focuses on the theme of a just transition for an inclusive Green Deal. Enel is involved with the Steering Committee and working groups focused on the workforce, communities and consumers. The Group also played a key role in the European SDG Summit during which the results of various roundtables in which Enel took part were presented, specifically:
- Business Roadmap for a Just Transition of the People Leaders Hub;
- Building Inclusive Workplaces Blueprint, outcome of the People Centered Approach workshop;
- Upskilling & Reskilling Report of the Upskill4Future Project launched in 2021.
Furthermore, the Group continued its activity within the Biodiversity & Industry platform. Lastly, we entered into a dialogue to develop a performance indicator for companies on tax transparency and responsible tax behavior. We also had the honor to participate in the working group for the creation of a blueprint and a paper dedicated to composite raw materials.
World Business Council for Sustainable Development (WBCSD)
Enel has been a member of the World Business Council for Sustainable Development since 2016, and it is represented both on the Board, where the CEO is a member, and at the Liaison Delegate level. In 2022, the Group continued its work in numerous programs and projects, including SOS 1.5 and the Energy Transformation, for which it is also a member of the Steering Committee. Enel also joined the new initiative Business Commission to Tackle Inequality, of which Chairman Crisostomo serves as Commissioner. In addition, the Group took an active role in the following projects: “Healthy People, Healthy Business,” “Nature-based solutions” and “Mobility Decarbonization.” During the WBCSD Council Meeting, Enel was involved in the discussions regarding business priorities for the global stocktake and moving towards zero-emission mobility & buildings operations.
Global Reporting Inititative (GRI)
Enel Group has been a member of the Global Reporting Initiative (GRI) since 2006 and part of the GRI Community since 2016. In 2022, Enel continued to pursue this commitment together with the other members of the Global Sustainability Standards Board and played an active role in concluding the work of the “Business Leadership Forum on the SDGs,” confirming once again its commitment to reaching Sustainable Development Goals and at the same time demonstrating commitment, responsibility and transparency through corporate reporting. Since 2020, Enel has been part of the Global Sustainability Standards Board, the independent body that has the exclusive responsibility for developing and issuing the Global Reporting Initiative (GRI) Standards.
IFRS Sustainability Alliance
Even after the initial merger between IIRC and SASB into the Value Reporting Foundation and then into the current IFRS Sustainability Alliance, Enel has continued its work with the new organization throughout 2022, promoting transparent, reliable and comparable reporting on environmental, social and governance issues.
Sustainable Business Roundtable (SBRT)
Enel joined the Sustainable Business Roundtable (SBRT) in 2016. Then in 2022, the Group participated in meetings focusing on “The Board’s Role in Sustainability” and “Creating Sustainable Customer Value”.
Global Investors for Sustainable Development (GISD) Alliance
In 2022, Enel continued to uphold its commitment to the Global Investors for Sustainable Development (GISD) Alliance, an integral part of the UN’s Strategy for Financing the 2030 Agenda for Sustainable Development, of which the Group’s CEO is a member. Enel has played an active role in the Alliance’s debates on mobilizing investments in support of sustainable development, in particular concerning the definition of specific sector metrics relating to SDGs and their integration into the existing reporting framework.
Science Based Targets initiative (SBTi)
Enel has certified four targets through SBTi concerning both direct and indirect emissions along the entire value chain, with respect to the 2030 and 2040 horizons, in line with 1.5 °C, and the criteria and recommendations of SBTi and its reference standards.
Science Based Target Network (SBTN) for Nature
After joining the Science Based Target Network’s Corporate Engagement Program in 2021, Enel again committed to SBTN’s goals and vision and helped develop methods and tools in line with its targets. SBTN is a unique collaboration of not-for-profit and world-leading organizations that provides companies with guidance to set science-based goals for nature, water, oceans, land and biodiversity.
Taskforce on Nature-related Financial Disclosures (TNFD) Forum
In 2022, Enel continued its collaboration as a member of the TNFD Forum, a multi-stakeholder consultancy group to support the new Taskforce on Nature-related Financial Disclosure (TNFD). By 2023, it aims to provide a global framework for companies and financial institutions to assess and verify risks and opportunities linked to the impact on nature and biodiversity of their own operations. Furthermore, Enel was chosen in October 2022 to participate in the TNFD Pilot Program, which will evaluate the new TNFD framework under the supervision of the WBCSD. The program will be divided into three categories, namely energy, land use, and built environment.
Taskforce on Climate-Related Financial Disclosures (TCFD)
Enel has supported the Taskforce since the publication in June 2017 of the first recommendations, which promoted transparent and reliable climate reporting. In 2020 Enel was also a member of the TCFD Advisory Group that put together the recommendations for scenario analysis.
First Movers Coalition
In 2022, Enel signed a letter of commitment at the WEF Annual Meeting in Davos to join the First Movers Coalition, an initiative led by the President of the United States and the U.S. State Department in close collaboration with the World Economic Forum. This global initiative is dedicated to decarbonizing hard-to-abate industrial sectors which are currently responsible for 30% of global emissions. Enel also joined the working group dedicated to Steel.
Sustainable Stock Exchanges Initiative
In 2022, Enel confirmed its participation in the Sustainable Stock Exchanges Initiative in the role of Official Supporter and also expressed its interest in participating in the new Advisory Board dedicated to Voluntary Carbon Markets.
GreenBiz Executive Network Europe
In 2022, Enel entered into a new partnership with the GreenBiz Executive Network Europe, aimed at helping large companies achieve an even more deep-rooted sustainable transformation and increasingly ambitious development goals.
World Climate Foundation
At the beginning of 2023, Enel joined the World Climate Foundation, a multi-stakeholder and multi-sector network aimed at promoting the transition to a zero-emissions and nature-friendly planet through multilateral dialogue and partnerships as well as investment in sustainable solutions.