ENEL, Climate Action 100+ Net Zero: Climate Action 100+ recognized Enel’s full alignment with the Climate Action 100+ Net Zero benchmark, which defines the key indicators of success to align companies with a zero emissions future and the objectives of the Paris Agreement, indicates a press release from ENEL.
ENEL, Climate Action 100+ Net Zero: “Institutional investors abrdn, National Trust and Robeco, which together with Enel are involved in the Climate Action 100+ initiative, they recognized Enel as the first and only company to fully align to the company’s Climate Action 100+ Net Zero benchmark. Climate Action 100+ is an investor-led initiative comprised of approximately 700 investors worldwide and responsible for more than $68 trillion in assets under management, which aims to ensure that the companies that emit the most greenhouse gases greenhouses in the world are taking action against climate change.
ENEL, Climate Action 100+ Net Zero: In March 2021, Climate Action 100+ launched the Net Zero Benchmark, which includes key indicators of success to align businesses with a net zero future and the goals of the Paris Agreement. The benchmark is the foundation for investors engaging with companies of interest through the Climate Action 100+, as it requires robust and comparable information on how companies are realigning their strategies and operations trade on the objectives of the Paris Agreement.
ENEL, Climate Action 100+ Net Zero: Compliance with the criteria underlying the benchmark is an important step for Enel and the main investors, reflecting the value of the dialogue between companies and investors. Enel is committed to decarbonizing on a 1.5°C trajectory and aims to achieve net zero emissions by 2040. The company’s decarbonization strategy is to shift to energy generation and storage from from renewable sources, phasing out coal-fired electricity generation by 2027 and gas-fired generation in both electricity generation and sales to customers by 2040.
ENEL, Climate Action 100+ Net Zero: “This is a great achievement for Enel and comes as recognition of the company’s efforts to deliver climate-related information that is fully aligned with our investors’ expectations”, said Francesco Starace, CEO and Managing Director of Enel. “It is also proof that a clear climate strategy and a constructive dialogue between companies and shareholders can lead to significant progress towards achieving the Net Zero commitments under the Paris Agreement. We look forward to continuing our cooperation with Climate Action 100+ and hope that Enel’s success will encourage other companies to step up their efforts in the fight against climate change.” He continued.
ENEL, Climate Action 100+ Net Zero: Carola van Lamoen, Director Sustainable Investing at Robeco, said: “We commend Enel for meeting all Net Zero criteria and demonstrating leadership through its climate goals and strategy.. This is a great achievement of our long-standing engagement with Enel, which began in 2018 as part of the Climate Action 100+ initiative. Enel was very responsive to our concerns and comments throughout the dialogue. Year after year, we have welcomed new measures taken in line with our observations, including the acceleration of its coal phase-out deadlines, the adoption of carbon dioxide emission reduction targets aligned with a scenario of 1 .5°C for all material emissions, reviewing the alignment of its participation in trade and partnerships with the goals of the Paris Agreement, and improving climate-related financial reporting. We encourage Enel to further align its actions and reporting on climate change with evolving investor expectations. We look forward to continuing the dialogue with Enel towards a zero net emissions future.”
ENEL, Climate Action 100+ Net Zero: Alice Bordini Staden, Member of the Investment Committee, Head of Stewardship at the National Trust, says: “This is a very significant achievement for Enel, the National Trust and the other investors involved. Alignment with the Climate Action 100+ net zero benchmark and all of its strategic indicators, objectives and governance indicators sets a benchmark for corporate responsibility and governance practices. It shows that engagement and collaboration are an effective tool to enable real-world decarbonization progress and protect the long-term health of our planet. We are proud of Enel and its leading position in the utility sector. We will continue to work to raise ambition and standards both for the sector and for the broader economic system.”
ENEL, Climate Action 100+ Net Zero: Kathleen Dewandeleer, Senior Sustainability Manager at abrdn, said: “Aligning with 1.5 degrees and committing to phase out coal by 2027 are important milestones for Enel on its journey to Net Zero by 2040. . We see Enel as a leader in the energy transition and appreciate its ongoing and open engagement with energy transition stakeholders. We are delighted that Enel has chosen to closely align its commitment to decarbonization with the Net Zero benchmark of Climate Action100+. “
ENEL, Climate Action 100+ Net Zero: Enel, which celebrates its 60th anniversary this year, is a multinational energy company and an integrated leader in the global electricity and renewable energy markets.
ENEL, Climate Action 100+ Net Zero: Globally, Enel is the largest private renewable energy company, the largest grid operator by number of end users and the largest retail operator by customer base. The group is the world leader in network balancing services through demand response management and the largest utility company in Europe by EBITDA from current operations .
Enel operates in more than 30 countries around the world, producing energy with a total capacity of approximately 92 GW.
ENEL, Climate Action 100+ Net Zero: Enel Grids, the Group’s global business line dedicated to managing the global electricity distribution service, distributes electricity through a network of more than 2.3 million kilometers to more than 75 million end users. The group supplies energy to around 70 million homes and businesses. Enel’s renewable energy division, Enel Green Power, has a total capacity of over 55 GW and a generation mix that includes wind, solar, geothermal and hydropower, as well as energy storage facilities. renewable energy in Europe, America, Africa, Asia and Oceania. . Enel X Global Retail, Enel’s global business division dedicated to advanced energy services, has a total capacity of approximately 7.9 GW in grid balancing services through energy consumption management and has installed 62 MW in a capacity meter behind the storage. For its part, Enel X Way is the Group’s new division, dedicated to the electric mobility sector, which manages around 380,000 public and private charging points for electric cars worldwide, both directly and through partnership agreements. ‘interoperability,’ says Enel’s press release.
 Enel’s leading position in various categories is defined by comparison with the estimated data for the year 2021 of competitors. Public operators are not included.
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