Enel brings forward net zero target by 10 years to 2040

It has committed to investing €170bn to drive decarbonisation over the next nine years

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Italian energy giant Enel has brought its net zero target forward by 10 years to 2040, setting new ambitious targets for decarbonisation and investment in the process.

During the next nine years, it has pledged to invest €170 billion (£143bn) in achieving net zero and driving decarbonisation.

It has also estimated that by 2030, its actions will reduce its customers’ carbon footprint by up to 80%, through electrifying its customer energy demand.

It has set a precise plan to 2030 to keep it on track to achieving its sustainable aims.

Francesco Starace, CEO, said: “This year’s plan, with €170 billion (£143bn) of direct investments by 2030, is a pivotal one. Its implementation is enabling us to step up from the previous ‘Decade of Renewable Energy Discovery’ to the current ‘Decade of Electrification’.

“Furthermore, we are bringing forward the Group’s full decarbonisation target by 10 years, reaching net zero by 2040.”