Framework

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Stakeholder engagement is a key lever to create shared value in the long term and to pursue a just, responsible and sustainable transition. In order to grasp stakeholder needs and expectations, Enel promotes a continuous, active and open dialogue with its stakeholders, through numerous listening initiatives led by the different corporate functions with different roles, levels of engagement and responsibility.

By engaging the various categories of internal and external stakeholders, the materiality analysis identifies the material topics for Enel, i.e., the environmental, social and governance topics related to the most significant impacts, risks and opportunities for the Group. In recent years, the materiality analysis has been strengthened by taking into account the ongoing regulatory developments at the international level and the requirements introduced at the European level by the Corporate Sustainability Reporting Directive (CSRD), the European Sustainability Reporting Standards (ESRS) and the current proposed guidelines provided by the European Financial Reporting Advisory Group (EFRAG). Regulatory developments have introduced the double materiality perspective, which comprises two dimensions:

impact materiality: which identifies material topics from the perspective of the impacts generated by the Company, i.e., the effects the organization has or could have on the economy, the environment and people;
financial materiality: which identifies material topics from the perspective of risks and opportunities that affect or could affect a company’s financial position, financial performance and cash flows, access to finance or cost of capital over the short, medium or long term.

Both dimensions include assessments from a human rights standpoint. Stakeholder engagement and materiality analysis then enable the definition of objectives to be included in sustainability planning and support primary users in their decision-making processes, thereby ensuring the quality of the relations with the Group’s stakeholders.

Understanding the context and Double materiality

Reference standard and governance

The stakeholder engagement process is carried out in line with the provisions of the main reference standard: Accountability AA1000 Stakeholder Engagement Standard (AA1000SES). The Enel Group’s materiality analysis was developed taking into account the GRI 2021 Universal Standard, the Value Reporting Foundation – SASB standard, the SDG Compass, which supports companies in adapting their strategies to the UN SDGs, as well as the EFRAG guidelines currently available.

Stakeholder engagement activities to investigate the priorities on ESG topics from a stakeholder perspective and the double materiality analysis are led by the Grids and Innovability – Sustainability Function, which manages and coordinates the process for the Group.

The activities of collecting, aggregating and processing data and information relating to the double materiality analysis and the stakeholder/expert listening initiatives are managed through a dedicated computer system (“e-mia®: Engagement – materiality & impact analysis”), which also allows the best stakeholder engagement and monitoring practices to be shared within the Group in line with the Company’s organizational model. The results, which are updated annually, are presented at both Group and company level, Business Line/Function and site (understood as site under construction/operational), as well as for the different stakeholder categories. Every two years, an analysis is carried out with a view to possibly reviewing the ESG topics and categories of stakeholders so as to take into account any significant changes in the internal and external context of the Company.
The materiality analysis and the results are subject to specific examination by the Corporate Governance and Sustainability Committee, set up within the Board of Directors, when examining the guidelines of the Sustainability Plan. Furthermore, the Corporate Governance and Sustainability Committee and the Control and Risk Committee issue prior opinions on the Sustainability Report, which includes the materiality analysis, and submit them to the Board of Directors’ meeting called to approve the Report.

The analysis of the process related to the definition of the material topics published in the Sustainability Report, as well as the prioritization of the material topics according to the stakeholders’ viewpoint, are included in the overall compliance opinion that the Auditing Firm provides regarding Legislative Decree 254 and GRI standards.

RCP

Word: RCP
Definition: Representative Concentration Pathway (RCP) - è una traiettoria di concentrazione di gas serra (non di emissioni) adottata dall'IPCC. Quattro pathway sono stati utilizzati per la modellazione e la ricerca climatica nel Fifth Assessment Report (AR5) dell'IPCC nel 2014. I pathway descrivono diversi futuri climatici, tutti considerati possibili a seconda del volume di gas serra emesso negli anni a venire. Gli RCP – originariamente RCP2.6, RCP4.5, RCP6.0 e RCP8.5 – prendono il loro nome dal possibile intervallo di valori del forzante radiativo nell'anno 2100 (rispettivamente 2,6 W/m2; 4,5 W/m2; 6,0 W/m2; e 8,5 W/m2), il quale descrive l’incremento del contenuto di energia nel sistema, con conseguente aumento della temperatura. Con il Sixth Assessment Report (AR6), pubblicato tra il 2021 e il 2023, l’IPCC ha prodotto un set aggiornato di cinque scenari di proiezioni climatiche future, ottenuti associando gli RCP agli Shared Socio-economic Pathways (SSP). Questi scenari modellano la risposta del clima dal 2015 al 2100 sulla base di scenari futuri di emissione che dipendono anche da ipotesi socioeconomiche e livelli di mitigazione del clima. Questi cinque scenari sostituiscono i precedenti RCP utilizzati nell'AR5 e sono i seguenti: ● SSP1-1.9 e SSP2-2.6: scenari rispettivamente associati a bassissime e basse emissioni di gas serra in cui le emissioni di CO2 diminuiscono fino a raggiungere lo zero netto intorno o dopo il 2050. È probabile che la temperatura superficiale media globale aumenti di 1,0°C-1,8°C nello SSP1-1.9 e di 1,3°C-2,4°C nello SSP2-2.6 entro il 2100 rispetto ai livelli preindustriali (1850-1900); ● SSP2-4.5: scenario con una più lenta riduzione delle emissioni di gas serra, in cui le emissioni di anidride carbonica rimangono più o meno le stesse di oggi fino al 2050 circa. In questo scenario, l'aumento della temperatura superficiale globale è compreso in un intervallo che va da 2,1°C a 3,5°C; ● SSP3-7.0 e SSP5-8.5: scenari rispettivamente associati ad alte e altissime emissioni di gas serra. Nello SSP3-7.0 le emissioni di CO2 raddoppiano circa entro il 2100 rispetto ai livelli attuali e a livello globale la temperatura della superficie terrestre sarà molto probabilmente più alta di 2,8°C-4,6°C entro la fine del secolo rispetto al periodo preindustriale. Nello SSP5-8.5, invece, le emissioni di anidride carbonica raddoppiano circa entro il 2050 e l’aumento della temperatura sarà compreso in un intervallo che va da 3,3°C a 5,7°C.