Enel is 'best in class' for the Storebrand Storebrand ethical funds

Enel's concern for social and environmental issues has attracted investment of EUR 1.8 billion from ethical funds around the world


Rome, 26 February 2009 — For the second consecutive year, Enel has been included among the 14 “best in class” utilities selected by the Storebrand Pionér and Storebrand Global SRI ethical funds. The Enel Group, led by CEO Fulvio Conti, was selected by the two Scandinavian funds following an analysis of 53 European companies that rewarded the adoption of cutting-edge policies in the environmental and social fields (Corporate Social Responsibility).


Enel's concern for CSR issues is already reflected the Group's shareholder base. According to figures at the end of September 2008, Enel shareholders included 66 ethical funds, who accounted for 19.3% of the overall stake held by international investment funds. On the basis of current stock market values, the ethical funds' total investment in Enel is worth around EUR 1.8 billion.


The assessment of the Storebrand funds is shared by the major global CSR analysts. For years, Enel has been a permanent presence in most of the major indices tracked by ethical funds, such as the Dow Jones Sustainability Index DJSI (World and STOXX), and the Global Top 25 Ethical and Global Renewable Energy Equity indices of E-Capital Partners.


Socially Responsible Investing (SRI) is a financial investment strategy that considers both the profit objectives of the companies in which they invest and the social and environmental impact they have on the communities in which they operate.


The strategy of SRI funds is also informed by “where” and “how” their money will be invested, in order to direct investments to companies that operate on a sustainable basis, excluding companies whose activities ignore or even harm the environment and society.


The framework of principles guiding the analysis conducted by Storebrand includes the Universal Declaration of Human Rights and the resolutions of the International Labour Organisation (ILO) and other international organisations (including Amnesty International, for example), while in the environmental field it incorporates the guidelines of the United Nations Environmental Program (UNEP) and the World Business Council for Sustainable Development (WBCSD).


 

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