Enel and the World's First: SDG-Linked Bond

Paolo Taticchi, Chiara Andreoli

Research output: Other contributionTeaching case


When Alessandro Canta, Head of Finance and Insurance at Enel, came up with an idea that was sure to disrupt the sustainable fiance and investment market, he knew he would face some resistance - just how much remained to be seen.
ENEL Group, also referred to as ENEL, is a leading multinational company operating in the global energy markets in over 34 countries, focusing on Europe and Latin America. Alessandro Canta’s idea was to create the first ever Sustainable Development Goals (SDG) strategy-linked bond. The idea was both exciting and unconventional - but was it feasible? Traditionally, green bonds were used to finance green projects, and he wanted to explore the feasibility of financing a transparent SDG-based strategy. His team was supportive of the idea, but the CFO and CEO needed to be convinced. Moreover, as this was an unconventional concept, investors also needed to be educated about the benefits and potential risks, and ultimately be brought on board. Faced with the monumental task of getting buy-in from all key stakeholders, internally and externally, Alessandro felt uncertain himself whether the idea would succeed. One thing he did know for certain, however, was that the path forward would be anything but easy.
Original languageEnglish
Publication date2022
Place of PublicationLondon
PublisherUCL School of Management
Number of pages12
Publication statusPublished - 2022

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