We are a significant benchmark in this field with three main areas of action: Leadership in the development of innovative financial instruments, diversification of the portfolio of sustainable financial products and active work in the dissemination of sustainable finance among the different stakeholders.
Alineados con los Objetivos de Desarrollo Sostenible
We took this commitment with sustainability into account in our 2022-2025 Strategic Plan when defining our financial strategy. As a result, sustainable finance is at the heart of this financial strategy and plays a key role in achieving the targets for compliance with the SDGs.
So, in 2022 we did the following:
We incorporated a new sustainability KPI for sustainable financing transaction (direct, scope 1 greenhouse gas emissions measured in gCO2eq/kWh as at 31/12/2024), having taken out two long-term bank loans in March 2022 amounting to €575 million euros.
We formalised a new financing operation linked to sustainability with the European Investment Bank (EIB) in Spain for €250 million specifically to finance investment in quality and improvements to the distribution network.
We linked most credit lines and bank guarantees to sustainability criteria.
We created the first and an innovative "Circular Confirming" line, linking discounts on invoices to suppliers complying with sustainability targets, with a view to transferring these concepts to other smaller companies, thus promoting sustainability in the supply chain.
We also continued to incorporate the remaining types of instruments into our already wide range of financial products with the formalisation of interest rate derivatives linked to sustainability for an amount totalling €850 million.
The inclusion of economic incentives in financial instruments on sustainability parameters enables us to create value by positioning corporate strategy at the centre of our relationship with the financial markets. The current challenge is focussed on defining finance conditions that effectively recognise and encourage our efforts.
The preponderance of sustainable finance increased to represent 64% of Endesa's gross financial debt at the end of the 2022 reporting period. The company's new 2023-2025 Strategic Plan is more ambitious, setting a target of 87% by the end of 2025.