Enel aiming to cut greenhouse gas emissions by 70 pct by 2030

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Enel aiming to cut greenhouse gas emissions by 70 pct by 2030

Enel has committed to a 70 percent reduction in its direct greenhouse gas emissions per kWh by 2030, from a 2017 base-year, making it an early adopter of the emission reduction target in line with the April 2019 update of the Science Based Targets initiative (SBTi). 

Furthermore, Enel has committed to reduce by 16 percent its indirect emissions from the sale of natural gas in the retail market by 2030, also from a 2017 base-year.

The SBTi is the world’s most recognised initiative to champion science-based target-setting as a way of boosting companies’ commitment to supporting the transition to a zero-emission economy. 

Enel’s SBTi commitment, which falls within the Group’s roadmap towards zero emissions by 2050, is consistent with greenhouse gas reductions required to keep global warming to well below 2°C. 

 “By cutting our direct emissions by 70 percent through the implementation of this new science-based target, we will be well on track, twenty years before the 2050 deadline, to achieving our full decarbonisation target,” said Francesco Starace, Enel CEO and General Manager. “As one of the most critical issues of our time, climate change represents a great challenge but also a tremendous opportunity, with renewables now contributing significantly to Enel’s growth and sustainability as a major driving force for value creation. Our Strategy addresses the United Nations Sustainable Development Goals, creating financial value while contributing to the establishment of a zero-emission society. As a global framework, SBTi has set a clear path for corporations willing to create value from sustainable decarbonisation. The initiative’s overall aim is that science-based target-setting will become standard business practice and we as Enel are ready to embrace this approach towards our ambitious targets.”

Enel was one of the first companies in the world to join SBTi in 2015, when it certified a science-based target for reducing greenhouse gas emissions per kWh by 25 percent in 2020 vis-à-vis 2007. The company is making good progress towards this target as in 2018 greenhouse gas emissions per kWh were down by 21 percent compared to 2007, and it will continue this trend through major investments in renewables, namely 11.6 billion euro gross capex by 2021.

The Group, through Enel Green Power, which is now the world’s largest private renewable player, currently boasts over 43 GW of managed renewable capacity and will add around 11.6 GW by 2021, equivalent to an increase of over 25 percent, while at the same time reducing thermal capacity by about 7 GW from over 46 GW currently, equivalent to a decrease of over 15 percent. The implementation of this strategy will help the company reach 62 percent of emission free production by 2021.

Currently, Enel operates the largest private power distribution network globally with a grid of over 2.2 million kilometres for around 73 million end users, of which 60 percent are already digitised. In addition, through Enel’s advanced energy solutions business line, Enel X, it is proactively contributing to decarbonise other sectors such as transport, with a major electric mobility plan whereby Enel X plans to have 455,000 public and private charging points for electric vehicles installed worldwide by 2021.

 

The post Enel aiming to cut greenhouse gas emissions by 70 pct by 2030 appeared first on Business Review.

Enel aiming to cut greenhouse gas emissions by 70 pct by 2030

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