Enel, an Italian multinational energy company, has accelerated its commitment by a decade, moving from 2050 to 2040, to achieve the decarbonization of its entire value chain. This involves reducing both its direct and indirect emissions to zero and achieving net-zero. In line with this, the company has set ambitious targets and is actively working towards reducing its greenhouse gas (GHG) emissions. Enel's decarbonization roadmap includes four targets certified by the Science Based Targets initiative (SBTi), aligning with the goal of limiting global warming to 1.5°C. By 2030, the company aims for an 80% reduction in GHG Scope 1 emissions intensity concerning power generation (compared to 2017). Additionally, it targets a 78% reduction in GHG Scope 1 and 3 emissions intensity related to Integrated Power (compared to 2017). Furthermore, there's a goal of achieving a 55% reduction in absolute GHG Scope 3 emissions concerning Gas Retail (compared to 2017).

The company targeted achieving a renewable installed capacity percentage of 60% or higher by December 31, 2022, and as of December 2022, Enel has surpassed this objective, reaching a renewable installed capacity percentage of 63.1%. Building on this success, the company plans to increase this percentage to 65% in 2023 and gradually escalate efforts to achieve a renewable installed capacity of 100% by 2040. This demonstrates the company's commitment to transitioning to a carbon-free business model.

Enel is also focused on reducing its scope 1, scope 2, and scope 3 emissions. In terms of scope 3 emissions, specifically related to Gas Retail, the company aims to reach 20.9 MtCO2 by 2025 and 11.4 MtCO2 by 2030. In 2022, Enel's GHG Scope 1 and 3 emission intensity related to Integrated Power was 218 gCO2eq/kWh, a reduction of 36% vs 2017. The company has set a target to reduce this intensity to 135 gCO2eq/kWh by 2025 and further decrease it to 73 gCO2eq/kWh by 2030. Additionally, Enel achieved a scope 1 GHG emissions intensity relating to Power Generation of 229 gCO2eq/kWh by the end of 2022.

Enel has taken significant steps to reduce its emissions and achieve its net-zero targets. The company has made substantial investments in renewable energy sources, increasing its renewable installed capacity. Enel plans to reach 76% of total net efficient installed capacity from renewable sources by the end of 2025. These investments align with the EU Taxonomy and contribute to Enel's goal of a carbon-free business model.

In conclusion, Enel is committed to achieving net-zero emissions by 2040. The company has made progress in increasing its renewable installed capacity and reducing its emissions intensity. Enel's investments in renewable energy sources and its focus on reducing scope 1, scope 2, and scope 3 emissions demonstrate its dedication to sustainability and combating climate change. By setting ambitious targets and taking concrete actions, Enel is positioning itself as a leader in the transition to a low-carbon future.

Data Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies representing the world’s largest industries. This analysis is combined with crucial details on strategic and investment priorities, innovation strategies, and CXO insights to provide comprehensive company profiles.