- reducing the absolute GHG emissions by 25% by 2030,by 65% by 2040 (relative to 2018) and by 100% by 2050;
- reducing the net carbon intensity of energy products sold by 15% by 2030 and, 40% by 2040 and by 100% by 2050;
Carbon capture and storage is also part of Eni’s decarbonising strategy, as the company wants to create worldwide storage hubs to decarbonise its plants and refineries and third-party plants.
New technologies, such as Waste to Fuel that converts urban waste into bio-oil and bio-methane will play an increasingly important role. Eni has also launched innovative systems that can access to clean, safe and inexhaustible energy sources, such as the transformation of wave energy into electricity and the confinement fusion of two hydrogen nuclei – still in the experimental stage – that generates energy without greenhouse gases emissions.
To further reduce its carbon footprint toward net-zero, Eni is also investing in REDD+ forestry projects which protect primary and secondary forests in Africa, South Asia, and Latin America, targeting to offset more than 6 metric tons of CO2 per year (MTPA) by 2024 and over 40 MTPA by 2050.
To be successful in the energy transition, a collaborative approach is essential. Indeed, companies and public actors, as well as civil society organizations, must work together to shape ad hoc solutions for each economic entity and for each country, as there is no one unique path towards carbon neutrality. That is why Eni is strengthening its alliances in the countries it works in to promote development and meet the needs of local communities in line with national development plans and the UN 2030 Agenda. What sets the company apart is its “Dual Flag” strategy it uses in partner countries, which means Eni constantly interacts with local institutions and stakeholders to improve livelihoods and create new growth opportunities. Through its Local Development Programmes (LDPs), Eni invests in energy access, economic diversification, training, community health, water and sanitation access and land protection, aligning with the national and regional contexts and international sustainability agendas.
During the pandemic, the company has also boosted its alliances and partnerships, as it worked closely with countries to track the health of local communities and address healthcare and education issues, social protection, or basic necessities’ access. For instance, to promote local sustainable development, Eni is working closely with the UN’s Food and Agriculture Organisation (FAO) and food banks to improve food security in Nigeria, with the United Nations Development Programme (UNDP) to improve access to sustainable energy and mitigate climate change across African countries, and with the UN’s Industrial Development Organisation (UNIDO) to improve youth employment and agrifood chains in countries like Mozambique and Congo.
In 2020, Eni has also started new collaborations with civil society organisations such as AMREF, AVSI, CUAMM, and VIS, which will help create local partnerships that improve energy access, economic diversification, education, access to utilities and healthcare especially for vulnerable groups. The group is also developing participatory projects with Indigenous communities and their representatives to make sure that energy projects and infrastructure respect the rights of the local peoples.