This guarantee facility is a financial tool for the company’s operations: production, transport, and distribution of electricity, gas, and public lighting services.
The economic conditions of this guarantee facility are linked to a sustainable indicator, specifically Enel group’s share of renewable productive capacity. Thus, the guarantees issued by BBVA in the interest of Enel and its subsidiaries will include the promotion of sustainability-related initiatives and actions.
In proof of Enel’s commitment to the achievement of the United Nations’ SDGs, this indicator will be considered not only for 2021, but also for 2022. If Enel reaches a level of achievement of 55 % of the indicator or more in fiscal year 2021, and 60% or more in 2022, the bank will reward Enel with a bonus; otherwise, the utility has agreed to pay the bank a penalty.
As a sign of its commitment to the fight against climate change, in 2018 BBVA approved its Pledge 2025, pursuant to which it has mobilised USD 50 billion of the USD 100 billion target set through 2025 in green financing, sustainable infrastructure, social entrepreneurship, and financial inclusion.
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