Rome, August 20th, 2018 – For the third year out of four since the list was established, Enel has been included in Fortune’s prestigious “Change the World” list, a ranking of the top businesses in the world making a positive social impact through activities that are an integral part of their business strategy and operations. Enel ranked 28 out of the 63 companies in the 2018 list and the Group is the only Italian company to be included in this year’s edition.
Fortune Magazine praised Enel for its continuous commitment to renewables, as evidenced by its zero- emission generation portfolio, which now accounts for over half of the Group’s global production (51%). Furthermore, the ranking highlights Enel’s Open Power strategy entailing its role as a promoter of “green tech and tactics with its many partners worldwide”.
Enel CEO and General Manager Francesco Starace said: “Enel’s presence for the third time in Fortune’s Change the World List is a confirmation of the Group’s role as a driver of change and a leader in the global energy transition. In its listing, Fortune notes how our Open Power strategy serves as a platform to help address some of the biggest challenges that we face in the world today. To increase our impact in all of our innovation and sustainability initiatives around the world, Enel is working with an ever-growing network of startups and industrial and academic partners. Through our eight Innovation Hubs, Enel has launched 147 projects with startups, 39 of which have scaled up to industrial deployment phase in the last three years.”
The Change the World list was created by Fortune four years ago, in order to underline its belief that capitalism should be celebrated for its power “of doing well by doing good”. Fortune begins the process with an open call for nominations from business, academic, and non-profit organisations around the world in partnership with, among others, FSG, a non-profit social-impact consulting firm and the Shared Value Initiative, a global platform for organisations seeking business solutions to social challenges as well as Professor Michael E. Porter of Harvard Business School.
A team of writers and editors from Fortune evaluates and ranks the companies by these four factors:
Measurable social impact defines the reach, nature and durability of the company’s impact on a specific societal problem;
Business results defines the benefit the socially impactful work brings to the company;
Degree of innovation measures the level of innovation of the company relative to others in its field, and whether the other companies have followed its example;
Corporate integration defines the degree to which a company’s effort is integral to the company’s overall strategy and how well that strategy is communicated through the ranks.
The Enel Group is also ranked 83 on Fortune’s Global 500 index of the world’s largest companies. It has been on the list for twenty-four years on the grounds of its sound financials.