- The B Team Responsible Tax Principles represent global best practices in the principles of fiscal governance. The B Team is a global group of companies and leaders of civil society, working to establish new standards for corporate leadership, aiming at a better future
Rome, May 27th, 2021 – Today, Enel becomes the first Italian company to sign up to the B Team Responsible Tax Principles, developed by the international B Team group to promote responsible and sustainable fiscal practices.
“We firmly believe that tax transparency promotes sustainable development,” said Alberto De Paoli, CFO of the Enel Group. “In line with the new concept of stakeholder capitalism that guides our actions, we are convinced that companies, now more than ever, must play an important role in contributing to the economic, social and sustainable progress of the countries where they are present. In addition to the investment generated, job opportunities and adequate long-term growth, this contribution is also directly linked to paying our fair share of taxes. Joining the B Team Responsible Tax Principles serves as further confirmation of the importance the Enel Group gives to the tax variable and the role it plays in the development of our society.”
The B Team Responsible Tax Principles were devised by a group of multinational companies, with the assistance of representatives of civil society, investors and international institutions, and were unveiled in February 2018 at the Tax & SDG Conference at the United Nations headquarters in New York. These principles represent the earliest joint effort made by a group of cross-sectoral and inter-regional companies to define best practice in seven key areas of taxation, from corporate governance to relations with the authorities and all stakeholders, all in the name of transparent conduct.
Enel’s adherence to the Responsible Tax Principles is a major signal to emphasize and confirm the Group’s enduring understanding that taxation constitutes another crucial aspect of corporate sustainability. Enel encourages the adoption of responsible corporate tax practices in all countries where it operates, in support of equitable and effective tax systems that contribute to society and to sustainable development.
The Enel Tax Principles form the basis of the group’s conviction to acknowledge taxation as one of the most important contributions to the economic and social development of the countries in which it operates. Enel’s decision to publicly sign the B Team Responsible Tax Principles is a further indication of the group’s ambitions for constant development and improvement in terms of responsible corporate tax practices.
Co-founded by Sir Richard Branson and Jochen Zeitz, the B Team is a global group of businesses and leaders of civil society, working to establish new standards for corporate leadership and a new way of doing business, which measures success not only in terms of financial performance, but also in terms of the health of people and our planet, for the benefit of future generations.