Enel recognized as the first company fully aligned with Climate Action 100+ Net Zero Company Benchmark11 November 2022
In collaboration with other institutional investors and leading the engagement with Enel Spa as part of the Climate Action 100+ initiative, we are pleased to acknowledge that Enel Spa has become the first and only company to fully align their corporate disclosures with the Climate Action 100+ Net Zero Company Benchmark.
In March 2021, Climate Action 100+ launched its Net-Zero Company Benchmark, defining key indicators of success for business alignment with a net zero emissions future and goals of the Paris Agreement. The Benchmark is the foundation for investors engaging with focus companies through Climate Action 100+, as it calls for robust and comparable information on how companies are realigning their business strategies and operations with the goals of the Paris Agreement.
Meeting the criteria underlying the Benchmark’s disclosure indicators is a meaningful milestone for both Enel and the lead investors, which reflects the value of dialogue between corporates and investors. Enel has committed to decarbonizing in line with a 1.5°C pathway and aims to reach net zero emissions by 2040. The company’s decarbonization strategy consists of shifting towards renewable energy generation and storage; phasing out coal power generation by 2027 and natural gas, in both power generation and sales to clients, by 2040.
“This is a great achievement for Enel and it comes as a recognition of the company’s efforts towards providing climate-related disclosures that are fully aligned with the expectations of our investors,” said Francesco Starace, Enel CEO and General Manager.
“It is also the demonstration that a clear climate-related strategy and a constructive dialogue between companies and shareholders can lead to meaningful progress towards reaching Net Zero commitments in line with the Paris Agreement. We look forward to continuing our cooperation with Climate Action 100+ and hope that Enel’s achievement will encourage other companies to increase their efforts in the fight against climate change.”
As investors, we believe that through collaboration with companies we often achieve the greatest outcomes.