ENEL AND INTESA SANPAOLO, NEW AGREEMENT TO FOSTER SUSTAINABLE SUPPLIER GROWTH
· Easier access to credit and stronger support to investments in sustainability are amongst the key points of the understanding by which the two companies enhance the range of measures for Enel value chain companies, for a partnership that comes under the scope of the Supplier Development Programme
Rome/Milan, 06 July 2022 - Support the development of its suppliers, facilitating sustainable growth both in terms of access to credit and resource management: the new agreement reached by Enel and Intesa Sanpaolo, in keeping with the guidelines of the Italian National Recovery and Resilience Plan (NRRP) and its measures seeking to speed up the country’s route towards the energy transition, further extends the range of opportunities offered to Enel value chain companies under the scope of the Supplier Development Programme stipulated by the Parties in August 2020.
The original agreement envisaged a pool of around 150 suppliers in this first phase of collaboration, on which it was possible to allow the concession of €35 million in new credit. Given the success, the new agreement not only extends the range of possibilities and the focus on sustainability but also extends participation to include all the Enel Group's Italian suppliers.
“To reach the ambitious decarbonisation targets and sustainability goals Enel has set itself, the role of the supply value chain is essential and must, at this time where there is an acceleration of investments, constantly renew and develop” - commented Francesca Di Carlo, Enel’s Global Procurement Manager. - “Helping our suppliers invest in sustainability and circularity is an integral part of our strategy and this is why we have extended the scope of action of the Supplier Development Programme. Through the partnership with Intesa Sanpaolo, Enel suppliers choosing to embrace sustainability as an intrinsic approach can benefit from easier access to liquid funds”.
Anna Roscio, Executive Director Sales&Marketing Imprese Intesa Sanpaolo, stressed: “Intesa Sanpaolo wants to be an accelerator of the NRRP initiatives, in particular assisting companies through the sustainable transition with innovative credit instruments that reward concrete actions that improve their ESG profile; in this sense, we have already disbursed more than €4.5 billion in S-loans and circular economy to Italian SMEs. This is flanked by our Supply Chains Programme, which rewards the supplier’s membership of the value chain in terms of assuring better access to credit”. Richard Zatta, Head of Intesa Sanpaolo’s IMI Corporate & Investment Banking Division Global Corporate Department, declared: “The agreement with Enel just goes to prove the sharing of sustainability goals with one of the main leaders of the energy transition, showing important synergy in involving Italy’s value chains through an ESG approach to growth; it allows the companies to make the most of the investment opportunities envisaged by the NRRP and enjoy support in gaining access to liquid funds”.
The agreement enriches the range of action of the Supplier Development Programme, envisaging new, more extensive benefits in terms of the concession of credit by Intesa Sanpaolo to the benefit of the Enel value chain companies, which have launched investments and initiatives aiming to increase sustainability and circularity: these include, consistently with Mission 2 of the NRRP - “Green revolution and ecological transition” - reducing waste, water consumption, disposable plastic packaging and hazardous chemical substances, as well as recovering raw materials, achieving carbon neutrality, implementing electric mobility (electrification of the fleet and electric forklift trucks) and developing renewable source energy production plants.
Instead, the measures established by the partnership on the financing of companies embrace the spirit of Mission 5 of the NRRP - “Inclusion and Cohesion” - with specific reference to those dedicated to eliminating stereotypes linked to sexual inequality: Intesa Sanpaolo will facilitate access to liquid funds for Enel value chain companies, fostering all investments aiming to promote gender equality and the development of the woman in the social-economic context. This objective is pursued with specific loans (called “S-Loan Diversity”), which through a series of activities - ranging form in-house policies to female participation in the community, company welfare programmes and initiatives seeking to increase the number of women on the workforce - will support women’s empowerment.
Enel, which celebrates its 60th anniversary this year, is a multinational power company and a leading integrated player in the global power and renewables markets.
At global level, it is the largest renewable private player, the foremost network operator by number of end users and the biggest retail operator by customer base. The Group is the worldwide demand response leader and the largest European utility by ordinary EBITDA [1].
Enel is present in over 30 countries worldwide, producing energy with over 90 GW of total capacity.
Enel distributes electricity through a network of over 2.2 million kilometers to more than 75 million end users. The Group brings energy to around 70 million homes and businesses. Enel’s renewables arm Enel Green Power has a total capacity of around 54 GW and a generation mix that includes wind, solar, geothermal, and hydroelectric power, as well as energy storage facilities, installed in Europe, the Americas, Africa, Asia, and Oceania. Enel X Global Retail, Enel's global advanced energy services business line, has a total capacity of around 7.7 GW of demand response managed globally and has installed 80 MW of behind-the-meter storage capacity. In addition, Enel X Way is the Group’s new global business line fully dedicated to electric mobility, managing around 320,000 public and private EV charging points worldwide, both directly and through interoperability agreements.
[1] Enel’s leadership in the different categories is defined by comparison with competitors’ FY 2020 data. Publicly owned operators are not included.
About Intesa Sanpaolo
Intesa Sanpaolo is Italy’s leading banking group – serving families, businesses and the real economy – with a significant international presence. Intesa Sanpaolo’s distinctive business model makes it a European leader in Wealth Management, Protection & Advisory, highly focused on digital and fintech. An efficient and resilient Bank, it benefits from its wholly-owned product factories in asset management and insurance. The Group’s strong ESG commitment includes providing €115 billion in impact lending by 2025 to communities and for the green transition, and €500 million in contributions to support people most in need, positioning Intesa Sanpaolo as a world leader in terms of social impact. Intesa Sanpaolo is committed to Net Zero by 2030 for its own emissions and by 2050 for its loan and investment portfolios. An engaged patron of Italian culture, Intesa Sanpaolo has created its own network of museums, the Gallerie d’Italia, to host the bank's artistic heritage and as a venue for prestigious cultural projects.
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Last updated 6 July 2022 at 11:42
