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V.E provides a SPO on Enel’s 2021 Sustainability-Linked Financing Framework

Enel’s 2021 Sustainability-Linked Financing Framework was created to issue Sustainability-Linked Instruments and is established in compliance with the LMA’s Sustainability-Linked Loan Principles (May 2020) and the ICMA’s Sustainability-Linked Bond Principles (June 2020).

V.E has provided a Second Party Opinion (SPO) on Enel’s two Key Performance Indicators (KPIs) and their associated Sustainability Performance Targets (SPTs):

  • KPI 1: Direct GHG Emissions Amount (Scope 1)
    • SPT 1: 64% reduction of direct GHG emissions per kWh by 2023, equivalent to around 148 gCO2eq by kWh, compared with 2017 levels
    • SPT 2: 80% reduction of direct GHG emissions per kWh by 2030, equivalent to around 82 gCO2eq by kWh, compared with 2017 levels
    • SPT 3: 100% reduction of direct GHG emissions per kWh by 2050, equivalent to 0 gCO2eq by kWh
  • KPI 2: Renewable Installed Capacity Percentage
    • SPT 1: 55% of renewable installed capacity by 2021
    • SPT 2: 60% of renewable installed capacity by 2022
    • SPT 3: 65% of renewable installed capacity by 2023

V.E is of the opinion that Enel’s Sustainability-Linked Financing Framework is aligned with the core components of the Sustainability-Linked Bond Principles (SLBP) and Sustainability-Linked Loan Principles (SLLP) 2020, is in line with best practices identified by V.E.

V.E has participated to sustainability-linked financing for more than 20 corporates in Europe, Americas and Asia, either to provide borrowers with their annual ESG score or as second-party opinion provider to assess the relevance of the KPIs (KPI-linked mechanisms).

Enel is a multinational energy company and a global integrated operator in the electricity and gas industries with a focus on Europe and Latin America. The company transports electricity through a network of over 2.2 million kilometres. The Group is present in 48 countries with power generation plants of all types and supplies energy to cities in South America and Europe.

SPO available for download below.

Read more about Enel’s framework.

For more information on this mission and V.E’s SPO services for Bonds and Loans

Amélie Nun
Head of Communications
amelie.nun@vigeo-eiris.com

Benjamin Cliquet
Head of Sustainable Finance Business Development
benjamin.cliquet@vigeo-eiris.com

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