The B Team is pleased to announce that Enel is the latest signatory to The B Team Responsible Tax Principles.
Enel is a multinational power company and leading integrated player in the global power, gas and renewables markets with a presence in more than 30 countries worldwide. The company’s tax principles have always underpinned its approach to tax policy and practice.
Enel is going a step further with its endorsement of The B Team Responsible Tax Principles, signalling its leadership’s ambition to continually evolve and improve its approach to tax.
“We firmly believe that tax transparency promotes sustainable development,” said Alberto De Paoli, Chief Financial Officer of the Enel Group. “In line with the new concept of stakeholder capitalism, which drives our actions, we are strongly convinced that companies, today more than ever, must play an important role by contributing to the economic, social and sustainable progress of the countries in which they are present. Endorsing The B Team Responsible Tax Principles is further confirmation of the importance that the Enel Group gives to tax, and the role it plays in development in our society.”
Responsible tax is increasingly an expectation rather than an exception, as pressure grows on companies to demonstrate a responsible approach to tax as part of wider commitments to improve Environmental, Social and Governance (ESG) performance.
Momentum is building: Enel is the 23rd major multinational company to endorse The B Team Responsible Tax Principles.
The B Team encourages bold business leaders to follow the example set by Enel. To learn more about the Responsible Tax Principles and how you can join this movement, see here or contact Ewan Livingston-Docwra at email@example.com.
About The B Team Responsible Tax Principles
Developed by multinational businesses with input from civil society, investors and representatives from international institutions, The B Team Responsible Tax Principles were launched at the Tax & SDG Conference at United Nations Headquarters in New York in February 2018. The B Team Responsible Tax Principles are a blueprint for raising the bar on how businesses approach tax. They are the first consolidated effort from a group of cross-sector, cross-regional companies to articulate best practice in seven key areas of tax, from corporate governance to transparency to relationships with authorities.