Enel

Does the core business genuinely avoid or reduce emissions, or build climate resilience? Share of revenue that is actually 'green'. Fossil-dependent models score low.

Enel is the world's largest renewable energy operator with ~66 GW of managed renewable capacity and plans to reach ~80 GW by 2028, but still operates material fossil gas and coal assets, with coal phaseout only targeted by 2027 and gas by 2040, limiting its near-term impact score.

Credible, science-based targets (SBTi), a real net-zero plan with progress to date, and CDP disclosure — not just a dated press release.

Enel holds SBTi-validated 1.5°C-aligned targets covering Scope 1, 2, and 3 emissions and has committed to zero emissions by 2040, but credibility is partially dented by the 2023 SLB emissions intensity target miss and IEEFA's critique that the 2024–2026 interim targets were set less ambitiously than the prior framework.

Operational footprint, labour and social practices, and governance quality across the company's own operations and supply chain.

Enel employs over 60,000 workers globally across 30+ countries and discloses supply chain mapping, labour practices, and water-use reduction targets annually, but ongoing fossil fuel operations and grid asset divestiture activities create social and environmental exposure in communities across multiple jurisdictions.

Quality of disclosure, independent third-party verification, and how much hard data backs the company's claims.

Enel publishes a full CDP Corporate Questionnaire (2024/2025 cycle), an Integrated Annual Report, a Climate Policy Advocacy Report, and a Sustainability Report with independently verified GHG data, all publicly available; disclosure quality is high relative to sector peers, though SLB target-setting transparency has attracted IEEFA and market criticism.

Controversies, litigation, pollution, fossil-fuel lobbying, conflict-zone involvement and governance scandals. Higher means cleaner.

Enel missed its 2023 SLB carbon intensity KPI (160 vs. 148 gCO2eq/kWh target), triggering ~€83 million in penalty coupons on ~$11 billion of bonds — the largest such penalty in SLB history — and has faced repeated criticism that interim SLB targets have been set to be too easily achievable, raising greenwashing concerns around its flagship sustainable finance instrument; no major governance scandals or conflict-zone involvement found.