ENEL AND INTESA SANPAOLO ENTER INTO A PARTNERSHIP TO SUPPORT SUPPLY CHAIN COMPANIES AND LAUNCH PATHWAYS TO SUSTAINABLE GROWTH
· The agreement aims to support small and medium-sized enterprises that are part of the Enel supply chain in their growth and sustainable development
· Companies that join Enel’s Supplier Development Program will have quick access to a wide range of loans, at the best terms and conditions, and with faster disbursement of loans
· In the launch phase, around 130 suppliers selected by Enel from among the best performing companies operating in areas of strategic interest to the Group will benefit from the partnership
Milan, 20 August 2020 – Enel and Intesa Sanpaolo signed a partnership agreement to provide access to credit for the Group’s suppliers under Intesa Sanpaolo’s Sviluppo Filiere Programme and Enel’s Supplier Development Program.
The agreement aims to support small and medium-sized enterprises in Enel’s supply chain and facilitate their access to credit so they can initiate their paths to growth and sustainable development. Supply chain companies will then be able to activate development processes with ESG (Environmental, Social and Corporate Governance) in mind focusing particularly on environmental issues and the transition to Circular Economy models.
With the Sviluppo Filiere Programme promoted by Intesa Sanpaolo at the end of 2015, Enel and the banking group embark on a partnership that during the launch phase will benefit about 130 suppliers selected by Enel from throughout Italy. Thanks to the agreement and through the exchange of industrial and sectoral information, access to credit for small and medium-sized enterprises is facilitated and economic advantages are recognised by leveraging the experience Intesa Sanpaolo has accumulated over the years supporting supply chains and its extensive presence throughout the country.
The partnership will allow the bank to evaluate suppliers as players in a solid production chain and to leverage, within the supplier credit assessment process, the industrial information provided by Enel. Enel’s companies will thus be able to benefit from the “value” of the chain leader through increased access to credit and faster disbursement of loans.
The agreement also allows suppliers to take advantage of a wide range of loans, particularly those linked to investments in the Circular Economy and ESG integration, and advanced financial instruments for the supply chain to facilitate access to liquidity, growth and overcoming difficulties, and thus help them get back on track.
“The challenge of the energy transition necessarily requires the growth and development of our suppliers. Without them, it would not be possible to achieve our decarbonisation, renewable energy development and network digitisation objectives”, said Alberto De Paoli, Chief Financial Officer of the Enel Group. “With our Supplier Development Program, we want to accompany SMEs operating in sectors key to Enel on the path towards sustainable, technological and skills development, by providing dedicated services offered by selected partners. Joining Intesa Sanpaolo’s Sviluppo Filiere Programme will allow suppliers participating in the Supplier Development Program to take advantage of financial services and access to credit that can facilitate their implementation of circular economy principles and develop innovation and sustainability processes.”
Stefano Barrese, Head of the Banca dei Territori Division of Intesa Sanpaolo, said: “The important supply chain agreement reached with Enel, thanks to the invaluable contribution of our colleagues in the IMI Corporate & Investment Banking Division, further strengthens Intesa Sanpaolo’s Sviluppo Filiere Programme, which already includes 700 large companies in Italy and their 16,000 suppliers. In the first phase of this new agreement, we look to the 130 companies that supply Enel, adapting our offering to support the entire supply chain down to the smallest supplier and leveraging our qualitative rating model: one that is shared with the ECB, which allows companies that invest in innovation, sustainability and product quality to improve the cost of credit. Thanks to the cooperation of a partner like Enel, we are confident that other organizations will join our Programme to involve medium, small and even very small-sized enterprises in relaunching our economy.”
Last updated 21 August 2020 at 01:49