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Brussels, Belgium, 2013/09/25 - Enel and Ceres, a nonprofit organization mobilizing business & investor leadership to address water scarcity and other sustainability challenges presented the Aqua Gauge assessment, a roadmap to guide companies & investors. IT0003128367
Enel is the first power Group in the world to have entered the Ceres assessment on water performance, a methodology evaluating water management from companies operating in different industries and representing guidance to investors seeking more sustainable corporate behaviours.
Today at the EU Parliament in Brussels, Enel and Ceres, a nonprofit organization mobilizing business and investor leadership to address water scarcity and other sustainability challenges, presented the Aqua Gauge assessment, a roadmap to guide companies and investors in better managing water-related risks.
Corporations in the power sector and other water-intensive industries face growing pressures for a more efficient use of water resources due to trends such as climate change and water scarcity, growing water demands from cities and agriculture, as well heightened environmental regulation in many regions. Ample water is essential for power production, and is used to generate steam, cool electric turbines, as well as to produce hydropower.
The assessment from Ceres has shown several areas where Enel demonstrates leading practice in water management. In particular, the company is strong with respect to its commitment to engage local communities on water issues; its provision of transparent and detailed water-related information to stakeholders; as well as its ability to collect robust data on water usage across its global operations.
Enel has been the first and sole utility at global level to respond to the CDP’s Water Disclosure survey, a data request backed by investors managing US$57 trillion, as well as by participating in a further evaluation of its water performance through the Ceres Aqua Gauge.
“Efficient water management is a strategic target of our Environmental Policy commented Andrea Valcalda Head of the Environment unit at Enel - We are delivering strong results in reducing water consumption, with a medium-term target for further improvement already set. We decided, first among world utilities, to join Aqua Gauge to assess our performance identify further opportunities, and share our roadmap with stakeholders and investors.”
Today only slightly more than 6% of the Group’s overall electricity generation is located in areas of the world that face water stress (ranked “moderate and above”), as measured by standards set by the World Resource Institute and FAO.
Enel has always been committed to a more efficient use of this fundamental resource in power management to the extent that from 2007 to 2012 the Group has been able to reduce water specific consumption (in terms of litres/kWh generated) across its operations by 31%.
This achievement is the latest recognition of Enel’s efforts towards a more transparent disclosure with stakeholders and institutional investors and it adds up to the Group’s admission to the Dow Jones Sustainability Index, FTSE 4Good, Carbon Disclosure Project.
“The future of energy depends on ample water,” said Brooke Barton, Director of Ceres’ Water Program. “Companies like Enel have a direct business interest in ensuring that rivers and watersheds are well managed and protected. With climate change and water scarcity, we see once again why the power sector and its investors would be wise to invest in generation technologies that both minimize exposure to water risks and lay the foundation for a low carbon economy.”
The Ceres Aqua Gauge (ceres.org/aquagauge) is an assessment methodology designed to help companies assess and improve their corporate-wide water risk management approach and for investors to understand how well companies are managing water-related risks and opportunities. The Aqua Gauge was developed through collaboration between Ceres, the World Business Council for Sustainable Development, Irbaris, and IRRC Institute. It reflects the input and feedback of representatives from over 50 financial institutions, companies and NGOs, and is supported by investors managing over $2 trillion in assets.
Enel (enel.com) is Italy’s largest power company, and Europe’s second listed utility by installed capacity. It is an integrated player, selling power and gas to around 61 million customers. Enel operates in 40 countries worldwide, with a net installed capacity of approximately 98,000 MW and about 74,000 employees.
Ceres (ceres.org) is a U.S-based nonprofit organization mobilizing business leadership on climate change, water scarcity and other sustainability challenges. Ceres also directs the Investor Network on Climate Risk (INCR), a network of 100 institutional investors with collective assets totaling more than $11 trillion.