Terna, Enel and Pirelli have joined the largest corporate sustainability initiative in the world: the United Nations Global Compact. Pirelli was confirmed among the 37 companies of the United Nations Global Compact Lead, while Terna among the companies participating in the "United Nations Global Compact Cfo Taskforce" and Alberto De Paoli of Enel co-president of the Cfo Taskforce.
In detail, Terna, led by Stefano Donnarumma, was awarded for its performance in the Environment, Social and Governance sectors and is among the 60 international companies participating in the "United Nations Global Compact Cfo Taskforce" which have announced their commitment to invest over 500 billion dollars globally over the next 5 years to achieve the objectives of Sustainable Development (SDGs, Sustainable Development Goals) of the UN on renewable sources, gender equality, health and access to primary goods. The UN Global Compact CFO Taskforce plans to recruit hundreds of UN Global Compact member companies that radically expand the amount of business investment aligned with sustainability goals and outcomes.
Sustainable investments, aimed at integrating renewables to increase the efficiency, safety and resilience of the electricity grid, are one of the pillars of Terna's 2021-2025 "Driving Energy" Business Plan: based on the criteria of the European taxonomy, 95% of the 8,9 billion euro of investments planned by Terna in the next five years is by its nature sustainable. Furthermore, on 16 June 2021, the operator of the national electricity grid launched a green bond issue, intended for institutional investors, for a nominal amount of 600 million euros.
Leading the initiative to mobilize trillions of dollars towards sustainable goals the CFO of Enel, Alberto De Paoli: “With this commitment, we mark a necessary milestone in the journey that began in December 2019, when a small group of CFOs began collaborating on a vision of promoting the integration of sustainability into business operations. Now we aim to further raise awareness and help create the necessary environment to attract more capital towards sustainable development”, commented Alberto De Paoli, CFO of Enel and co-chairman of the CFO Taskforce.
As far as Pirelli is concerned, it is the only global company in the Automobiles & Parts sector confirmed as Global Compact Lead by the United Nations. To qualify as a "Lead," a company must take part in at least two "Action Platform” Global Compact which bring together companies, local networks, academia, civil society and governments to solve complex sustainability issues and bring innovation in favor of global goals. Participants must then communicate their progress through an annual sustainability report detailing their achievements and implementation of the Ten Principles.
Marco Tronchetti Provera, CEO and Executive Vice Chairman of Pirelli, declared: “For Pirelli, doing business means innovating, accelerating change to the benefit of the community and to protect the environment. The confirmation of Pirelli's inclusion in the Global Compact Lead of the United Nations therefore represents a source of pride and rewards our constant effort in pursuing challenging objectives through actions aimed at concrete results”.
Sanda Ojiambo, CEO and Executive Director of the United Nations Global Compact, commented: “Lead companies represent the highest level of engagement with the United Nations Global Compact. Today more than ever, the world needs companies of all sizes – such as those included in the Lead today – to continue working to improve their sustainability performance and take action to build a better world”.
Being part of the United Nations Global Compact testifies to the belief that effective solutions must be pursued through a holistic approach to development, the result of the joint effort of companies and stakeholders at a global level, which integrates economic, social and environmental capital.
