- Easier access to credit and more robust support for sustainability investments are among the key points of the agreement, thanks to which the two companies expand the range of measures aimed at companies in Enel’s supply chain, in a partnership under the Supplier Development Program
Rome/Milan, July 6th, 2022 - Supporting the development of its suppliers, facilitating their growth path in a sustainable way both in terms of access to credit and resource management: the new agreement signed by Enel and Intesa Sanpaolo, in keeping with the guidelines of Italy’s National Recovery and Resilience Plan (PNRR, from the Italian ‘Piano Nazionale di Ripresa e Resilienza’) and its measures aimed at accelerating the country's path towards energy transition, further extends the range of opportunities offered to companies in Enel’s supply chain under the Supplier Development Program signed by the parties in August 2020.
The original agreement provided for a first cooperation phase with the granting of 35 million euros of new credit to a perimeter of around 150 suppliers. Given its successful outcome, the new agreement, in addition to broadening the range of possibilities and focus on sustainability, will see participation extended to include all Italian suppliers of the Enel Group.
"To achieve the ambitious decarbonization targets and sustainability objectives that Enel has set itself, the role of the supply chain is crucial, which, at a time of accelerating investment, must constantly innovate and develop," commented Francesca Di Carlo, Global Procurement Director at Enel. “Helping our suppliers to invest in sustainability and circularity is an integral part of our strategy, which is why we have expanded the scope of the Supplier Development Program. Through the partnership with Intesa Sanpaolo, Enel suppliers who are committed to sustainability will benefit from easier access to liquidity.”
Anna Roscio, Head of Intesa Sanpaolo's Corporate Sales & Marketing Department, added, "Intesa Sanpaolo wants to be an accelerator of PNRR initiatives, in particular by supporting companies in the sustainable transition with innovative credit instruments that reward tangible activities to improve their ESG profile, and as part of this strategy we have already disbursed more than 4.5 billion euros in S-Loan and circular economy funding to Italian SMEs. This is complemented by our Supply Chain Program, which enhances the supplier's membership of the supply chain in terms of better access to credit." Richard Zatta, Head of the Global Corporate Division of Intesa Sanpaolo's IMI Corporate & Investment Banking Division, concluded, "The agreement with Enel demonstrates how sharing sustainability goals with one of the key leaders in the energy transition can help achieve significant synergies, fostering the development of the country's supply chains in line with ESG principles."
The agreement expands the scope of the Supplier Development Program by providing new and broader credit facilities from Intesa Sanpaolo for the benefit of companies in the Enel supply chain that have launched investments and initiatives aimed at increasing sustainability and circularity. These include, in complete consistency with Mission 2 of the PNRR - "Green Revolution and Ecological Transition" - the reduction of waste, water consumption, single-use plastic packaging and hazardous chemicals, in addition to the recovery of raw materials, the achievement of carbon neutrality, the implementation of electric mobility (electrification of the fleet and electric forklifts) and the development of renewable energy source production plants.
In keeping with the spirit of Mission 5 of the PNRR - "Inclusion and Cohesion" - the partnership has also established measures in the area of business financing, with particular reference to those dedicated to breaking down stereotypes linked to gender inequality: Intesa Sanpaolo will facilitate access to liquidity for companies in Enel’s supply chain by favoring all investments aimed at promoting gender equality and the empowerment of women in the socio-economic context. This objective is pursued with specific funding ("S-Loan Diversity"), which supports women's empowerment through a series of activities, from internal policies to women's participation in the community, to corporate welfare programs and initiatives aimed at increasing women's employment in the company.
Enel, which celebrates its 60th anniversary this year, is a multinational power company and a leading integrated player in the global power and renewables markets.
At global level, it is the largest renewable private player, the foremost network operator by number of end users and the biggest retail operator by customer base. The Group is the worldwide demand response leader and the largest European utility by ordinary EBITDA [1].
Enel is present in 30 countries worldwide, producing energy with over 90 GW of total capacity.
Enel distributes electricity through a network of over 2.2 million kilometers to more than 75 million end users. The Group brings energy to around 70 million homes and businesses. Enel’s renewables arm Enel Green Power has a total capacity of more than 54 GW and a generation mix that includes wind, solar, geothermal, and hydroelectric power, as well as energy storage facilities, installed in Europe, the Americas, Africa, Asia, and Oceania. Enel X Global Retail, Enel's global advanced energy services business line, has a total capacity of around 6.6 GW of demand response managed globally and has installed 59 MW of behind-the-meter storage capacity. In addition, Enel X Way is the Group’s new global business line fully dedicated to electric mobility, managing nearly 350,000 public and private EV charging points worldwide, both directly and through interoperability agreements.
[1] Enel’s leadership in the different categories is defined by comparison with competitors’ FY 2020 data. Publicly owned operators are not included.
Intesa Sanpaolo Intesa Sanpaolo is Italy’s leading banking group – serving families, businesses and the real economy – with a significant international presence. Intesa Sanpaolo’s distinctive business model makes it a European leader in Wealth Management, Protection & Advisory, highly focused on digital and fintech. An efficient and resilient Bank, it benefits from its wholly-owned product factories in asset management and insurance. The Group’s strong ESG commitment includes providing €115 billion in impact lending by 2025 to communities and for the green transition, and €500 million in contributions to support people most in need, positioning Intesa Sanpaolo as a world leader in terms of social impact. Intesa Sanpaolo is committed to Net Zero by 2030 for its own emissions and by 2050 for its loan and investment portfolios. An engaged patron of Italian culture, Intesa Sanpaolo has created its own network of museums, the Gallerie d’Italia, to host the bank's artistic heritage and as a venue for prestigious cultural projects.
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