Endesa (NYSE:ELE)
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From Jul 2019 to Jul 2024
ENDESA (NYSE:ELE) and Ekurhuleni Metropolitan Municipality (EMM) have
signed an agreement under which ENDESA will buy 100% of the Certified
Emissions Reductions from a portfolio of landfill gas extraction
projects developed by EMM. This is the first contract of its kind signed
by Endesa in Africa and follows similar ones in China and Latin America.
The signing took place at the current edition of the Carbon Expo in
Cologne.
The project portfolio consists of four landfills owned and managed by
EMM. Landfill gas will be extracted during the ongoing operations of the
sites and at least 1.6 million tonnes of harmful emissions will be
avoided by 2012. The reductions obtained from these projects are
measured by certified UN entities and can be used to meet the greenhouse
gas reduction targets set for European companies under the Kyoto Treaty.
This operation reinforces ENDESA’s position as
one of the leading private carbon credit purchasers via the Endesa
Climate Initiative, a pioneering initiative for purchasing carbon
credits. The target is to purchase CO2 emissions rights through to 2012
via the mechanisms provided for in the Joint Application Clean
Development Mechanisms contained in the Kyoto Treaty.
Endesa Climate Initiativeis the ENDESA Group’s
B2B initiative to promote and purchase reductions in greenhouse gas
emissions by means of the mechanisms established under the Kyoto Treaty.
Through this programme the Company is also committed to creating
additional value for the companies which generate emissions reductions
through a flexible and swift focus, consultancy and cooperation, as well
as through attractive conditions for each of the contracts.
ENDESA sees sustainable development as a growth opportunity for the
company, whilst not forgetting its social responsibility to the
communities in which it operates, the efficient use of resources, its
obligation to avoid undue environmental harm and wealth creation for
those who invest in, work in or use the company’s
services. ENDESA’s Spanish facilities slashed
their CO2 emissions between 1990 and 2007, while doubling their output
during the same period.
* This document may contain certain forward-looking statements regarding
anticipated financial and operating results and statistics that are
subject to risks and uncertainties as well as to material risks, changes
and other factors which may be difficult to predict, including, without
limitation, those factors described in the Documento de Registro de
Acciones of Endesa filed within the Comisión
Nacional del Mercado de Valores and in the Form 20-F of Endesa filed
within the Securities and Exchange Commission, both for the fiscal year
ended December 31, 2004. For all of these forward-looking statements, we
claim the protection of the safe harbour for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.