The International Energy Agency(IEA) has established that in order to limit global warming to two degrees centigrade by 2050, renewable sources should account for 42% of all energy generated by 2030 and 57% by 2050. This makes cutting greenhouse gas emissions in production processes a priority for companies, and Enel has been a pioneer in this direction for years. We Mean Business, a coalition (organizations, businesses and investors) born to build a common platform to help the transition to a low carbon energy system, in order to secure sustainable economic growth and prosperity for all, summarized these steps on its website.
In 2009 Enel participated in the Eurelectric Initiative, which was established following an agreement signed by 60 companies to eliminate carbon emissions in the electricity sector. In particular, the Group’s CEO Francesco Starace officially announced at COP20 Enel’s commitment to achieve carbon neutrality by 2050. Additionally, Enel has signed the Global Compact Caring for Climate, a platform launched by the United Nations that challenges businesses to demonstrate their leadership in tackling climate change.
In 2014 the company made public its decision to shut down thermal power plants with a combined capacity of 13 GW by 2020. At the same time, it continues to develop green projects with its subsidiary Enel Green Power, a major global player in the renewable sector. EGP operates in Europe, the Americas and Africa, is in the process of entering Asia and has an installed capacity of almost 10,000 MW, with an annual production amounting to 32 TWh of zero emission energy in 2014.
Enel’s commitment in this direction has recently received a prestigious acknowledgment. The electricity multinational is fifth in the Change the World ranking drawn up by the American magazine Fortune, which lists the companies with the highest potential to change the world through their business practices. Fortune praises Enel for its guiding role in the green revolution in the energy sector, something ”we expect to be led by tiny upstarts, not established giants”. The magazine also highlighted the fact that in 2014 the Group generated 38% of its output from renewable sources, with that figure set to rise to 48% within the next four years.