Sustainability Strategy
Our sustainability strategy takes into account the main trends in the electricity sector and global perspectives such as the UN's 2030 Agenda, as well as one of the major challenges of our time, which is the fair and accessible energy transition based on renewable generation sources.
A sustainable strategy and an integrated business model enable us to contribute to the achievement of the 17 Sustainable Development Goals of the United Nations. We are particularly committed to 4 out of the 17 goals that guide our value creation:
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Sustainability Plan Enel's sustainable strategy is materialized in our Sustainability Plan, which is defined taking into consideration the results of materiality analysis, in synergy with the Strategic Plan. The Sustainability Plan translates into short, medium, and long-term objectives and is developed with the participation of all areas of the company, following international corporate governance standards. Annually, these objectives are updated in a continuous alignment process with the strategic lines, achieved results, and the various commitments we have made, especially regarding the SDGs. In all our activities, we always consider the needs of our stakeholders. In this context, innovation, digitalization, circular economy, and sustainable finance act in a transversal manner and accelerate growth, based on respect for nature and Human Rights, supported by the Group's governance structure. The Administrative Council quarterly monitors the progress of the Sustainability Plan, which includes goals related to gender topics, community projects, and others that contribute to eliminate climate change. An example is the smart meters project, which is an equipment designed with circularity as part of its design. Furthermore, circular strategies are being developed to ensure new life cycles for the components of old meters. In 2022, our Plan achieved a progress rate of 105%, with the following main results:
At the core of Enel's sustainable strategy is the ambition to achieve zero emissions by 2040, in line with the goal of keeping global warming below 1.5°C. Specific targets have been defined, validated by the Science-Based Target Initiative (SBTi), which concern both direct emissions generated by our plants and indirect emissions produced upstream and downstream by our suppliers and customers.
A decarbonization pathway supported by the growing development of renewable energy sources. In Brazil, we reached approximately 5 GW of installed capacity in 2022, and with the sale of the CGTF thermal power plant in 2022, we achieved 100% energy generation from renewable sources. Another area of action is the extension and digitalization of networks, which allows us to offer an increasingly accessible, safe, and reliable service to all. Among the main objectives in this regard is the commitment to reduce the average frequency (SAIFI) and duration (SAIDI) of electricity supply interruptions. Additionally, we are committed to extending electricity access in rural and suburban areas where we operate. We accompany our customers on the path of clean electrification and the transformation of energy habits in everyday life. We do this by improving consumption efficiency in response to demand and also by increasingly supporting the spread of electric mobility by deploying electric vehicle charging points.
The value of the relationships we establish with our stakeholders is at the center of our commitment. In this way, it is possible to achieve a fair transition, paying special attention to those who are more exposed to a transition in a decarbonized economy. We are committed to be building everyday, an inclusive work environment capable of enhancing diversity and uniqueness, to promote individual development, also by enhancing diversity. In this direction, a new objective linked to the overall well-being of Enel's people has been defined. Women in the Enel Group in Brazil represent 21.9% of the total. In 2022, we included 51% of women in the leadership Succession Plans, in line with the goal of increasing female representation in the Company's top leadership profiles. Our suppliers are essential for us to progress sustainably and transform the energy and digital system, encouraging them to commit to a sustainable path. We ask our suppliers not only to ensure the necessary quality standards but also the commitment to adopt the best practices in terms of Human Rights and the impact of their activities on the environment. This commitment translates into concrete actions at various stages of the contracting process: in qualification, in the evaluation of suppliers regarding social and environmental aspects, as well as in the request for certifications in the bidding phase. Responsible relations with the communities where we operate and the promotion of economic and social development are pillars of our strategy. In this sense, sustainability projects in the communities where we are active range from the expansion of infrastructures to education and professional qualification training programs, promoting access to energy, rural and suburban electrification, poverty reduction, and the social inclusion of the most vulnerable segments of the population.
The protection of nature and biodiversity, the fight against climate change, and the contribution to sustainable economic development are strategic factors in the planning, operation, and development of our activities. We are pursuing nature and biodiversity preservation through the reduction and mitigation of potential negative effects on the planet that may result from the various activities of the Group, for the protection of current and future generations. The environmental strategy is also strengthened through a circular approach, which enhances the reduction of non-renewable resource consumption and maximizes the value of resources used, integrating sustainability from the design phase.
Innovation, circular economy, digitalization, and sustainable finance represent the growth accelerators of Enel's sustainability strategy, which comprehensively enhances all strategic themes. The adoption of a circular and sustainable model as an integral part of the energy transition process allows for reducing dependence on non-renewable raw materials, ensuring not only the competitiveness of the business model but also full social and environmental sustainability throughout the entire chain. Likewise, digitalization and cybersecurity are essential for the energy transition, through which the Group commits to disseminate the most advanced solutions and strengthen its verification actions to prevent possible cyberattacks. The importance of sustainable finance is growing to accelerate the achievement of the goals of the 2030 Agenda, through investments that combine the financial strategy with the Company's sustainability objectives and provide the basis for the Group's growth.
The commitment to respect Human Rights translates into an integrated and cross-cutting approach that takes into account the needs of our stakeholders throughout the value chain. In this way, we promote knowledge and the growth of a constructive dialogue that can really help to effectively address the social impacts of a decarbonized economy. The protection of the health and safety of our employees and partners is a shared responsibility at all levels, through the integration of safety into processes, in relationships with contractors, in accident management and analysis, and in continuous quality control. To ensure that our stakeholders apply a set of principles of transparency, correctness, and integrity in support of our business model, we can rely on a solid governance structure, the basis of all the company's processes and activities, applied daily and throughout the sustainability strategy. To learn about the main objectives of the Sustainability Plan, the goals and results of 2022, as well as the goals of the new 2023-2025 Plan, please consult the dashboards at the beginning of each chapter of this report.
To learn about the main objectives of the Sustainability Plan, goals, and results, please consult our Sustainability Report." |