Although a relatively recent initiative, the Global Compact already counts 1,333 companies and organizations as members. Through its membership, Enel has extended its commitment to the respect of human rights in all its activities and guarantees that it will never be party to any violations of these rights, not even indirectly.
With regard to the rights of workers, Enel is committed to guarantee workers freedom of association and their right to collective bargaining. Enel also guarantees that it will never use forced or obligatory labour, nor employ minors. It will also eliminate all forms of discrimination in its staffing policies in the countries where it operates.
The Compact also calls for a preventive approach to environmental challenges, the promotion of greater environmental responsibility, and the promotion, development and dissemination of environmentally friendly technologies.
Enels decision to adhere to the Global Compact fits with the companys existing Social Responsibility programme, a programme which led to the publication of Enels first, award winning, Sustainability Report in May 2003. For 2004, the sustainability report has been fully incorporated in the groups five-year industrial and strategy plan.
As a consequence of this commitment and the results achieved to date, Enel was admitted in 2003 to the sustainability indices of the Financial Times (for the third consecutive time), Dow Jones (where it is classified as first in line for selection), Capital Partners, Vigeo, and Core Ratings. These rankings are the principal reference points for ethical investment funds, an investment sector which is showing consistent growth. Of the 254 qualifying institutional investors, 33 have invested in Enel to date. Their presence is significant, amounting to 7.1% of all outstanding shares in the Enel Group and 16.2% of total capital held by institutional investors.
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