ENEL’s AGM: Will good intentions lead to climate action?

The briefing examines ENEL's climate commitments, noting that while the utility has announced a coal phase-out by 2027 and a gas exit by 2040, it continues to plan new gas projects and the potential revival of an LNG terminal in Sicily. It urges shareholders to use the upcoming Annual General Meeting to demand a more robust transition plan that avoids selling or converting coal assets and accelerates the gas exit in EU/OECD countries to 2035.

• ENEL has announced a coal phase-out date of 2027, but the author warns the company may use 'the easy way out' by selling plants or converting remaining coal assets to gas, which would only delay the exit from fossil fuels.
• Despite announcing a gas phase-out date, ENEL's strategy is described as ambiguous; in 2021, it was the second leading European utility in gas capacity with 26 GW, and it continues to plan new gas projects in Italy.
• In response to the reduction of Russian gas supplies, ENEL indicated it might revive the Porto Empedocle LNG terminal project in Sicily, which the author argues would lock-in fossil gas reliance and greenhouse gas emissions for 20 to 30 years.
• The document recommends that ENEL should exit gas in EU/OECD countries by 2035 and complete its coal phase-out without selling or converting assets to ensure a robust transition plan.

APA

admin (2022). ENEL’s AGM: Will good intentions lead to climate action? Reclaim Finance. https://reclaimfinance.org/site/en/2022/05/03/enels-agm-will-good-intentions-lead-to-climate-action/

Chicago

admin. ENEL’s AGM: Will good intentions lead to climate action? Reclaim Finance, 2022. https://reclaimfinance.org/site/en/2022/05/03/enels-agm-will-good-intentions-lead-to-climate-action/.

Wikipedia

{{cite report |last1=admin |title=ENEL’s AGM: Will good intentions lead to climate action? |publisher=Reclaim Finance |date=3 May 2022 |url=https://reclaimfinance.org/site/en/2022/05/03/enels-agm-will-good-intentions-lead-to-climate-action/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{admin2022enels, author = {admin}, title = {{ENEL’s AGM: Will good intentions lead to climate action?}}, institution = {Reclaim Finance}, year = {2022}, month = may, url = {https://reclaimfinance.org/site/en/2022/05/03/enels-agm-will-good-intentions-lead-to-climate-action/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }