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Starace: Enel at the Climate Action Summit

Starace’s commitments in New York during Climate Week

Enel’s recent confirmation as a UN Global Compact LEAD company is yet another international acknowledgement of the Group’s work in the field of sustainability and decarbonisation. It also recognises its commitment to defining novel funding schemes for achieving the SDGs. This was also evident when the Group headed by Francesco Starace attended the Climate Action Summit convened in New York by the UN Secretary-General António Guterres. This was the first summit dedicated to the energy transition, CO2 charging, sustainable infrastructure and cities, and funding to fight climate change. The aim is to boost initiatives intended to implement the objectives of the Paris Agreement (2015).

Global events like the UN Climate Summit are fundamental in helping governments to work together in order face the hardest challenge of our times

Francesco Starace, Enel CEO

In the words of Starace “Climate change can already be tackled today. We have the technologies and the solutions, while there is a growing attention on the part of the financial community to push in this direction.” He also pointed out that willingness and clarity of mind are necessary to boost the transition towards a new, sustainable and decarbonised economy: “Global events like the UN Climate Summit are fundamental in helping governments to work together in order face the hardest challenge of our times.”


Starace hopes that companies will make “tough but necessary choices, in order to connect sustainability and value creation.” This is the direction that the Group has followed in recent years: “Enel’s strategy integrates the achievement of the SDGs within its business model, and this has fostered the growth of the company, in addition to reducing its risk profile.” Nowadays, Enel is the biggest private operator in the world in the field of renewables and networks, as well as the biggest European electricity company in terms of assets. While highlighting this point, the CEO recalled that the Group’s commitment to SDGs has placed it “at the forefront of financial innovation, thanks to the recent launch of the first SDG-linked bond issue programme in history.” Moreover, “Sustainability and decarbonisation will keep feeding our growth towards the ambitious target of reducing direct greenhouse gas emissions by 70% by 2030, and achieving full decarbonisation by 2050.”


Francesco Starace spoke at several events in New York over the course of Climate Week: the United Nations Private Sector Forum on Climate Change (23 September), the United Nations Global Compact Board Meeting and the 17th #EnelFocusOn (24 September), the 3rd Bloomberg Global Business Forum (25 September) and the Global Compact CEO round table on "Bridging the financial gap – Mobilising strategies and company investments for SDGs" (26 September).



Enel editorial staff