Rome, September 7th, 2017 – Enel ranks 20th in Fortune’s 2017 “Change the World” list, a ranking of the top 50 businesses in the world that had a positive social impact through activities that are part of their business strategy and operations.
The Group is the only utility and the only Italian company to be included in the list. This is the second time Enel is included in the Change the World list, the first time being 2015.
The magazine praised Enel for its commitment to become CO2-free by 2050. The Group already produces 46% of its energy without any CO2 emissions, according to Enel’s 2016 data. Among the Group’s main projects, Fortune mentioned Cerro Pabellón, the first geothermal power plant in Latin America, and the Vehicle-To-Grid (V2G) Hub in Denmark that channels surplus energy from electric vehicles back into the main power grid. The V2G Hub is an example of Enel’s cooperation with innovative startups on as many as 80 projects around the world.
“We are extremely pleased to be recognized once again in Fortune’s Change the World list on the strength of our innovation and sustainability credentials,” said Enel CEO Francesco Starace. “By focusing our strategy towards renewable development, digitisation and the fight against climate change, we are at the forefront of the energy transition and business sustainability. Our success is not only linked to economic results, but also to the ability to deliver solutions and long-term positive impacts on economic and social growth, creating tangible shared value for all our stakeholders.”
The Change the World list was created by Fortune in order to underline its belief that capitalism should be celebrated for its power to do good. Fortune begins the process with an open call for nominations from business, academic, and non-profit organisations around the world in partnership with, among others, FSG, a non-profit social-impact consulting firm and the Shared Value Initiative, a global platform for organisations seeking business solutions to social challenges. A team of journalists from Fortune investigates each of the candidates independently.
For the first time, in this latest edition, the nominees to the Change the World list are ranked on three criteria: measurable social impact, business results and degree of innovation.
The criteria of measurable social impact defines the scale and durability of the company’s impact on a specific social problem;
Business results defines the company’s profitability, and
Degree of innovation is relative to others in the same industry, with a focus on innovative partnerships with competitors, governments and NGOs.
The final list of 50 is selected and ranked by the editors of Fortune based on the magazine’s own reporting and analysis.
The Enel Group is also ranked 84 on Fortune’s Global 500 index of the world’s largest companies. It has been on the list for 23 years on the grounds of its sound financials.