- The company has approved the 2023-2025 Sustainability Plan 2023-2025, this shows that it is committed to a business model in which sustainability is integrated into the industrial and business plan itself, with the addition of ethical, social and environmental commitments.
- Endesa annually examines compliance with this plan through 130 indicators, and with each review it makes a number of its objectives more ambitious while adding others. This year features new goals such as a commitment to no net loss of biodiversity and no deforestation by 2030 and the reinforcement of measures to create shared value in local communities.
- This plan has been approved by the Board of Directors, which delegates responsibility for the supervision of compliance to the Sustainability and Corporate Governance Committee.
Endesa once again reaffirms its commitment to sustainability, placing it at the heart of its business strategy. The Board of Directors approved the 2023-2025 Sustainability Plan, which includes 130 measures aligned with the objective established by the Paris Agreements to avoid an increase of 1.5 degrees in the global average temperature compared to pre-industrial levels.
"Strengthening our commitment to sustainability is the best way to direct our industrial plan and continue to be leaders in fair energy transition, which creates long-term value for society as a whole," said María Malaxechevarría, Endesa's General Manager for Sustainability following the approval of this plan. In this way, "we will maintain the highest demands on all business areas to have a positive impact on society, contributing to its prosperity. This will be brought about by placing ethical and transparent governance at the forefront of the application of good business practices," said Ms Malaxechevarría.
Endesa's 2023-2025 Strategic Plan, which focusses its activity on a business model that responds to the major challenges facing society. These include decarbonisation and electrification to combat climate change and progress towards energy sovereignty and they are complemented by a Sustainability Plan for the same period based on the following priorities:
Zero emissions ambition and clean electrification
Endesa has increased its ambition to achieve zero emissions by 2040 through growth in its renewable generation assets. The Plan includes measures such as allocating €4,300 million to add 4,400MW of new solar and wind power to make 91% of mainland production free of emissions by 2025. This investment is 90% aligned with the SDGs and more than 80% with European Union Taxonomy. It is expected to increase renewable capacity from 9.3 GW in 2022 to 13.6 GW in 2025, together with significant development of storage capacity.
The specific objectives contemplated in the plan include the digitalisation of the grid, which involves more than three-quarters of the investment in distribution, and customers. €280 million will be assigned to the latter that will contribute to 58% of invoices being electronic by 2025. The goal of electrifying customers involves a commitment by Endesa to offering them clean, cheap energy. Electric mobility, with the expected installation of 66,000 public and private charging stations by 2025, as well as the extension of self-consumption, are other examples of strategic lines.
People
Prominent features of the 130 measures in the Sustainability Plan are those aimed at creating shared value in the local communities where the company operates. The aim is to reach 900,000 by 2030 in the 2015-2030 period in educational programmes. These include Dual FP, in collaboration with Ministries of Education in a number of autonomous communities and the recently created Sustainable Rural School, the training axis in the Social-economic Plan for the Fair Transition Project in Andorra, with which it is expected to offer more than 300,000 hours of training to 5,000 people over the next three years.
The company also places great importance on its role as a promotor of sustainability all along the supply chain with the application of a procurement process whose objectives follow the best environmental, safety and human rights criteria. Here are two specific examples of this commitment: The Supplier Development Plan and the Confirming Circular initiative, together with BBVA, CaixaBank and Santander, a financial innovation tool to encourage them to adopt circular economy measures.
Endesa values its people very highly and is moving towards becoming a more inclusive company with a stronger commitment to diversity. With this in mind, the Plan includes objectives for training, work-life balance, promotion of the presence of women in STEM jobs, as well as in positions of responsibility, and policies for recruiting people with disabilities and the recent creation of the LGTBIQ + community.
Nature
One of the new measures included in the Plan is the company's commitment to achieve no net loss of biodiversity by 2030. The objectives of waste reduction, the responsible use of water in the electricity generation process, as well as sustainable mobility initiatives within the company and energy efficiency will enable the levels of environmental footprint reduction to be maintained. A tangible example is the update of the corporate fleet electrification plan with a target of about 60% by 2025, compared to 10% in 2022.
Growth accelerators
Innovation, digitalisation, the circular economy and sustainable finance are considered key elements to ensure the sustainable growth of the company. With regard to the circular economy, there should be special mention for objectives for the implementation of new use models based on cultural change, the extension of useful life and new life cycles. As a specific example, alliances have been established with third parties such as that recently signed with LafargeHolcim España which involves both companies working to accelerate energy transition by means of a business symbiosis agreement based on the supply of green energy, the development of sustainable infrastructures and the recovery and re-use of materials.
In sustainable finance, the new plan includes a target for 87% gross debt linked to sustainable factors by 2025.
ESG Pillars
Occupational health and safety is one of the core pillars in the company's strategy, together with the promotion of best practices in Good Governance and the guarantee of respect for human rights.
The commitment to people's health and safety is reflected in accident reduction objectives and inspections, while with regard to Good Governance, the new Plan ensures compliance with the company's ethical commitments and responsibilities, the implementation of good practices and the promotion of transparency in relations and communications with all stakeholders.
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. Our workforce numbers around 9,260 employees. Endesa is a division of Enel, the largest electricity group in Europe.