We recognise the need to be agile and flexible in responding to a scenario characterised by high volatility and uncertainty, keeping a sharp focus on our strategy to be effective both on near-term targets and on pursuing our long-term transformation and decarbonization. The last 12 months demonstrate how we successfully face these challenges, striking the right balance between short and long-term priorities.
While the urgency of achieving environmental sustainability and changing the energy mix remains a priority on our path to Net Zero in 2050, it is now even clearer that it has to be pursued side-by-side with energy security and affordability, the other essential pillars of the energy system trilemma. This means building a geographical and technological diversification of energy sources, creating in the medium to long term a different energy mix and deploying breakthrough technologies.
The necessity to work for energy security and for environmental sustainability implies greater demand on capital and resources. In order to address this cash allocation issue to strike the right balance between investments and returns, we have developed dedicated entities that are capable of independently accessing capital markets to fund their growth and to reveal the real value of each business.