It is not just the future of the planet and our children who will have to live on it that is at stake. Climate change is already having a dramatic impact on countless social and economic factors. The energy sector must quickly find solutions that are sustainable, but which at the same time enable it to meet the many challenges posed by the growing demand for energy, urbanisation and industrialisation. This is in addition to the need to keep customers increasingly at the centre of the sector’s development strategy.
The Enel Group wants to be at the forefront of the fight against climate change and go further and faster. A key element for doing so, in line with the UN 2030 Agenda on Sustainable Development, is the promotion of public and private partnerships and a revolutionary form of collaboration with businesses, startups, civil society, NGOs, governments, financial institutions and investors. It is an open and integrated approach, under the banner of open “innovability” (a neologism created by our Group by merging the words innovation and sustainability), to transform society through innovation and make it more sustainable from both an environmental and human point of view.
And that’s not all. In line with our Group’s financial strategy, we issued two “green bonds” for a total value of 2.5 billion euro between 2017 and 2018. These instruments were allocated for financing projects for the transition to the “low-carbon economy.” 2017 was also the year that we signed the letter of support for the implementation of the voluntary guidelines of the Task Force on Climate-related Financial Disclosures (TCFD), proposed by the Bank of England. These guidelines were created in order to make companies more aware of the potential financial impacts of non-financial and climate change-related factors. In this context, Enel has launched a multi-functional working group that is applying the recommendations to three main areas: the development of long-term climate models, the mapping of risks related to global warming and financial reporting associated with climate change.