- This product seeks to increase the competitiveness of Endesa's suppliers by improving their financing conditions between 35% and over 50%, according to their degree of commitment to the circular economy and sustainability.
- Endesa, through its Iberia Supplier Improvement Programme, accompanies the business fabric in its transition along the path of circularity, promoting its commitment to sustainability and offering advice and innovative financial solutions
- To achieve this, it has partnered with three leading entities of the financial industry: BBVA, CaixaBank and Santander. Suppliers can read more about this solution on the website www.globalprocurement.enel.com or by sending an email to sdpiberia@enel.com
Over 3,500 of the companies currently registered as suppliers of Endesa can benefit from Circular Reverse Factoring, a new financial solution that seeks to increase their competitiveness while rewarding their good sustainable practices and, more specifically, their actions to make progress on the concept of the Circular Economy.
All of this is part of the Iberia Supplier Improvement Programme designed by Endesa to help companies, particularly SMEs, and to become their partner, assuming sustainability as the strategic tool that provides them with a differential added-value.
The Circular Reverse Factoring solution offers companies additional bonuses as they increase their circular practices, allowing them to reduce the costs of receiving advance payments for their invoices from 35% to over 50%. The scope in which circular economy actions can be certified includes: energy management, reduction of emissions, waste recovery, water management and development of business strategies associated with environmental management and the Circular Economy.
Virginia Ocio, Head of the Circular Economy at Endesa, states that "Circular Reverse Factoring is an advantageous product for our suppliers. Endesa wants to grow with them, accompany them and make sustainability a key strategy, providing them with tools required to travel together along the path of circularity. We know that electrification and decarbonisation can be complex processes, so we want to help them, by offering innovative solutions that bring tangible benefits. We all benefit from this commitment to the circular economy: companies, which become more competitive and efficient, society as a whole and the planet, moving towards a more sustainable future".
According to the latest data available, in 2021, Endesa made purchases worth more than €3,200 million, 50% more than in 2020, in parallel to the solidity of its investment plan, which contemplates investments worth €8,500 million for the period 2023-2025, 15% higher than those of the 2022-2024 plan.
Circular Reverse Factoring is proof of Endesa's commitment to sharing the pillars of its strategic plan with its supply chain and promoting its commitment to sustainability and the circular economy, in addition to purchasing products and services. Given the importance of this goal, Endesa has launched the proposal to all the banks with which it holds sustainable confirming lines – BBVA, CaixaBank and Santander – with the aim of offering this tool to the country's business fabric, which combines sustainability, competitiveness and utility for its suppliers. The companies joining this initiative will have access to an alternative and competitive financing line that does not use up their other lines of credit, which improves the balance of their working capital and reduces the risk of default. In addition, this type of Reverse Factoring solution offers support to the supply chain management plans of its suppliers.
About Endesa
Endesa is the largest electricity company in Spain and the second largest in Portugal. The company is also the second largest gas operator in the Spanish market. Endesa operates an end-to-end generation, distribution and marketing business. Through Endesa X, it also offers value-added services aimed at the electrification of energy usage in homes, companies, industries and Public Administrations. A new business line has also been created, Endesa X Way, fully dedicated to electric mobility. Endesa is firmly committed to the United Nations SDGs and strongly supports the development of renewable energies through Enel Green Power España, the digitalisation of grids through e-distribución and corporate social responsibility (CSR). The Endesa Foundation is also active in CSR-related matters. Our workforce numbers around 9,260 employees. Endesa is a division of Enel, Europe’s largest electricity group.