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Western EuropeJanuary 7 2022

Enel: zero emissions and fully ‘electrified’ by 2040

The sustainable finance pioneer has big plans to cut carbon emissions — both its own and its customers’.
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Enel: zero emissions and fully ‘electrified’ by 2040

The energy group Enel has recently announced it will dedicate the next 10 years to switching its customers fully out of gas and to rely on electricity for all their energy needs — something that will help customers’ shave about 40% off their bills and 80% off their carbon emissions, says the company’s chief financial officer Alberto De Paoli.

It will also get the group closer to its decarbonisation target: zero emissions by 2040 both for direct (Scope 1) and indirect (Scope 3) emissions — Scope 2 emissions, which relate to purchased electricity, are not relevant to the group. The Science Based Targets initiative (SBTi) approves of Enel’s plans.

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Silvia Pavoni is editor in chief of The Banker. Silvia also serves as an advisory board member for the Women of the Future Programme and for the European Risk Management Council, and is part of the London council of non-profit WILL, Women in Leadership in Latin America. In 2019, she was awarded an honorary fellowship by City University of London.
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