Enel is changing the world. Recognition has arrived now also from Fortune, the prestigious American economics magazine that has included our Group in its Change the World list, the only utility and the only Italian company among the top 50 businesses improving life on our planet from a social and environmental point of view through activities that are part of the Group’s core business strategy.
The top 50 companies were selected based on three criteria: measurable social impact, results and degree of innovation.
In particular Fortune magazine acknowledged Enel’s commitment to reducing the global footprint from fossil fuels and to making its own energy mix carbon-neutral by 2050, an aim that is the subject of a chapter in the report Seeding Energies – The Sustainability Report 2016. A cornerstone of our strategy is based on a long-term vision that translates into clear objectives: a reduction of 25% by 2020 of the intensity of CO2 emissions compared with 2007 levels, investment in the growth of the renewables sector of 5.2 billion euros in the period 2017-2019 and a gradual and selective reduction of thermoelectric plants in various countries, in addition to activities of research and development into new low carbon technologies using the Open Power approach and involving both internal and external stakeholders.
Fortune points out, moreover, that Enel has created the first geothermal plant in South America in Cerro Pabellón, Chile, and that, in the last two years, Enel has been involved in 80 innovative start-up projects in various countries in key sectors such as electric mobility, and identifying news business models such as the Vehicle-to-Grid (V2G) technology that will transform cars into mobile batteries, technology that has already been launched commercially in Denmark.
Research and development into innovative technologies are crucial in order to bring sustainable and affordable energy to over a billion people without access to electric energy, to make energy use more efficient in urban areas and in industrial production and to achieve the target of carbon neutrality.
Open Power is the vision behind Enel’s development strategy and is based on five different pillars: Open Energy to more people; Open Energy to new technologies; Open up new ways of managing energy for people; Open up energy to new uses; Open up to more partnerships.
As part of the Strategic Plan, we are formally committed to 4 of the 17 Sustainable Development Goals - 4, 7, 8 and 13 - which we consider as a business opportunity aiming at delivering value on a long-term basis to all stakeholders.
Enel is deeply committed to the renewable energy sector and to research and development of new environmentally friendly technologies. In 2016 the 46% of the electricity Enel produced did not result in any carbon dioxide emissions, making Enel one of the world’s major producers of clean energy. Our business is not only linked to economic results, but also to the ability to generate solutions and positive impacts on economic and social growth in the long term. Measuring the shared value created for the company and its stakeholders is crucial.
The model takes into account the input (renewables, sustainability, efficiency, etc.) and the output (recycling, reuse, etc.) of materials and energy, as well as the level of use of the resources deployed.
Innovative and sustainable solutions are pursued in order to meet customers’ needs, to foster access to energy, promote energy efficiency, in the knowledge that in the future electric energy will increasingly become an enabler for innovative technologies and we should be capable of facilitating access for all.
The Change the World List was compiled with FSG, a non-profit consultancy company active in social work, and the Shared Value Initiative, a global network that brings together companies that are looking for business solutions to social challenges. Prior to compiling the final list of 50 companies, a team of journalists from the magazine examined the candidates based on the available reports and analysis.