Strategies to Fight Climate Change
It’s not just the future of the planet and our children who will have to live on it: already now, climate change is having a significant impact on a whole range of social and economic factors. The energy sector is being called to quickly find solutions that are sustainable, and that enable the sector to face the many challenges being created by growing energy demand, urbanization, industrialization, in addition to the need to keep the customer at the centre of its development strategy.
The Enel Group wants to be at the forefront in the fight against climate change, and wants to go further, faster. A key element to do this, as reiterated in the United Nations’ 2030 Agenda on Sustainable Development, is the promotion of public and private partnerships and a revolutionary formula for collaboration between companies, start-ups, civil society, NGOs, governments, financial institutions and investors. An open and integrated approach, for open “innovability” (a neologism created by our Group, combining the words innovation and sustainability), to transform society with innovation and make it more sustainable, both from an environmental and a human point of view.
And that’s not all: in line with the Group’s financial strategy, between 2017 and 2018, Enel issued two “green bonds” for a total value of 2.5 billion euro, using these tools to finance projects useful to the transition to a “low-carbon economy”. Also in 2017, the Enel Group signed a letter supporting the implementation of voluntary guidelines from the Task Force on Climate-related Financial Disclosures (TCFD), proposed by the Bank of England. These guidelines aim to make companies aware of the probable financial impacts arising from non-financial issues related to climate change. In this regard, Enel launched a multi-functional working group that is implementing the recommendations through work in three major areas: development of long-term climate models, mapping of risks connected to global warming and financial reporting associated with climate change.