Enel performs the materiality analysis based on the most widespread international standards, including the Universal Standard GRI 2021 (Global Reporting Initiative), AA1000 (Accountability 1000) and taking into consideration the new requirements introduced on a European level by the Corporate Sustainability Reporting Directive (CSRD) and the Exposure Drafts of the European Sustainability Reporting Standards (ESRS) made available by EFRAG (European Financial Reporting Advisory Group). The Value Reporting Foundation – SASB and Compass SDG, which supports companies in adapting their strategies to the United Nations Sustainable Development Goals, were also considered.
Over the past two years, the perspective for identifying the priorities attributed by the Company and its stakeholders to ESG topics has been enriched by the view of the most significant generated and incurred impacts for the Company (the so-called Double materiality – impact materiality and financial materiality). From the point of view of “double materiality”, the impact model is of fundamental importance, because it makes it possible for the Company to identify the material topics and therefore concentrate on them in the best way possible, both in terms risks as well as opportunities.
Therefore if the analysis of the most significant impacts guides the identification of the material topics, the priority topics direct the Company’s further efforts for following the strategic choices.
The materiality analysis process includes a significant activity of involving the stakeholders, which makes it possible to always be open to listening to the individuals or interest groups that are influenced or could be influenced by the organization’s activities. Every year we start multiple types of initiatives in order to receive information about what is perceived by internal and external stakeholders in terms of priorities, satisfaction and impact of the submitted ESG topics.
The list of material topics (level I and II) is provided below