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 practicesidentified 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.