With the new Sustainability-Linked Bond, Enel is accelerating further towards the achievement of its sustainable finance goals by fully implementing the concept of Stakeholder Capitalism. This is what CEO Francesco Starace highlighted on the day of the launch of a new multi-tranche “Sustainability-Linked Bond” in U.S. and international markets. The bond is for institutional investors and totaled 3.5 billion dollars, equivalent to about 3.3 billion euros. It was launched by Enel Finance International, a subsidiary of Enel, and is specifically linked to the achievement of Enel’s sustainability objective relating to the reduction of direct greenhouse gas emissions (Scope 1), contributing to the United Nations Sustainable Development Goal 13 (Climate Action) and in compliance with the Group’s Sustainability-Linked Financing Framework (“Framework”).
“With this new Sustainability-Linked Bond, we are further accelerating towards our sustainable finance goals and fully implementing the concept of Stakeholder Capitalism”
Francesco Starace, Enel CEO
“Long-term value creation will only be possible if it is based on business models that are sustainable and that take into account all relevant stakeholders,” Francesco Starace recalled, emphasizing the value of the transaction. It is no coincidence that the bond is related to a trajectory towards full decarbonization, with the 30-year tranche of this issuance being linked to the Group’s objective of achieving zero direct greenhouse gas emissions from the production of electricity and heat by 2040.
“The transaction will contribute to the path of debt cost reduction planned for the 2022-2024 period, to the implementation of our strategy, which will be beneficial for all of our stakeholders, as well as to the energy independence of the countries where we operate,” Francesco Starace said. The issue, guaranteed by Enel, was oversubscribed more than 2.5 times, with total orders of approximately 9.2 billion dollars and the significant participation of Socially Responsible Investors (SRI).
Enel editorial staff