Electricity company Enel announced today a new interim target on its path towards full decarbonization, aiming for greenhouse gas emissions reductions of 80% by 2030, compared to a 2017 base year. The company’s prior 2030 target was 70%.
Enel stated that its new GHG reduction target has received approval from the Science Based Targets initiative (SBTi), in line with SBTi’s most stringent standard category of limiting warming to 1.5°C. In doing so, Enel becomes the first major, global, integrated utility to set an emission reduction target consistent with the United Nations pledges to limit global warming to 1.5°C above pre-industrial levels and to achieve net zero emissions by 2050.
Francesco Starace, Enel CEO and General Manager, said:
“With our commitment to such a drastic reduction in our emissions, we are leading the way in the fight against global warming. As we progress along this path, we are working relentlessly to maintain our leadership in the energy transition through an ever-increasing focus on carbon-free activities. We are increasing the share of renewables in our generation mix. We are working with our customers towards energy efficiency and electrification, enabling change through reliable, digitized and resilient grids. A truly innovative and sustainable company is one that does not hold back from embracing change, but strives to lead it.”
Enel operates the largest private electricity distribution network globally with a grid of more than 2.2 million kilometers for over 74 million end users. The company has been a sustainability pioneer on several fronts, including through its advanced energy services arm Enel X, which has undertaken numerous initiatives to decarbonize transport. Earlier this month, Enel announced that it had signed an innovative €1 billion Sustainability-Linked Loan facility, one of the first of its kind that fully integrates sustainability into the company’s global funding program.