A unique feature of the Enel bond issued in Europe is that its interest rate is linked to the company’s performance on ambitious commitments to increase the generation of renewable energy and lower greenhouse gas emissions. Specifically, according to Enel’s press release, the money raised will be used to advance the following Global Goals:
Goal 7 on affordable and clean energy, through the achievement, by 31 December 2021, of a percentage of installed renewable generation capacity (on a consolidated basis) equal to or greater than 55% of total consolidated installed capacity.
Goal 13 on climate action, through the achievement of a level of greenhouse gas emissions by 2030 equal to or less than 125 g of CO2 per kWh, in line with the commitment to reduce Enel’s direct greenhouse gas emissions per kWh by 70% by 2030 compared to the 2017 values, as certified by the Science Based Targets initiative (SBTi) and consistent with the Paris Agreement on climate change.