Integrating sustainability into our business model
For Eni, sustainability means contributing to a socially just energy transition that guarantees access to energy for everyone, while protecting the environment.
From exploration and production to scientific research, from circular chemicals to biorefineries, from renewables to natural gas: all of our operations reflect our business models based on operational excellence, carbon neutrality in thelong term and alliances for local development. In turn, these three pillars are underpinned by the shared foundations of promoting internal competencies, the deployment of innovative technologies and the digitization process.
By applying this model, we create long-term value for all stakeholders and shareholders, contributing to a socially just energy transition.
This structure is perfectly summarised in our mission which outlines the direction of our long-term evolution and incorporates the 17 United Nations 2030 Agenda Sustainable Development Goals (SDGs).
Focussing on operational excellence means, first and foremost, maintaining a continuous commitment to the valorization of people and, in the HSE field, to the safeguard of healthand safety and environmental protection. It also means focusing on the efficiency and resilience of our operations, to accelerate the time-to-market and reduce the break-even of projects. This is all done while maintaining solid financial discipline and paying the utmost attention to integrity and respect for human rights.
In order to achieve carbon neutrality in the long term, we have adopted an approach that takes the emissions generated over the entire life cycle of energy products into account. The main measures we have put in place are maximising the energy efficiency of our assets, increasing low-carbon sources in our portfolio (increasing the share of gas and biofuel and the production and marketing of biomethane), increasing emission-free sources and developing circular economy initiatives. An important role will also be played by the application of new technologies capturing CO2 and the development of forest conservation projects in accordance with the REDD+ scheme.
We have created two new Business Groups to support these objectives even more effectively: Natural Resources and Energy Evolution. The first aims to develop the upstream oil & gas portfolio sustainably, promoting energy efficiency and carbon capture, while the second will be dedicated to supporting the evolution of the company’s power generation, product transformation and marketing from fossil to bio, blue and green.
In our relationship with the producing Countries we have always promoted initiatives that benefit the local communities alongside the valorization of energy resources. In addition to allocating gas production to the local market and promoting access to electricity, we implement measures for the diversification of local economies and local development projects to improve health, education and access to water and hygiene. This approach, called Dual Flag, is based on collaboration with institutions, cooperation agencies and local stakeholders to identify the necessary actions to meet the needs of communities in line with their National Development Plans and the UN 2030 Agenda. Alongside these initiatives, we are also constantly engaged in creating job opportunities and transferring our know-how and expertise to local partners.
Sustainability is part of every aspect of our business. This link is achieved by integrating the 17 Sustainable Development Goals of the UN 2030 Agenda into our mission. We have set targets to be achieved for each of them and incorporated them in the 2021-2024 Action Plan and the Long-term Strategic Plan to 2050.
Eni’s new mission expressly represents the transformation path taken by the company to play a defining role in the global “just transition” process towards a low carbon future. Select a goal below to read more.
The central role played by Eni’s Board of Directors in the management of the main issues relating to climate change, sustainability and corporate debate on strategic issues is evidence of sound, cutting-edge governance. They are supported by specific Committees and the Advisory board, which includes some of the leading international experts in the energy sector.
Relationships with our stakeholders, listening to and sharing decisions with the people in our host Countries are fundamental for Eni: knowledge of their point of view and expectations are the foundations of our commitment to building transparent and lasting relationships based on mutual trust.
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