A zero-net-emissions Eni to deliver decarbonized products by 2050.
by
Silvia Scaramuzza
08 March 2021
4 min read
by
Silvia Scaramuzza
08 March 2021
4 min read
Thanks to the transformation began in 2014, Eni is now ready for a new phase in its development towards achieving net zero emissions by 2050. This is the central objective of Eni's long-term strategy to accelerate its transformation. In other words, within the next 30 years, Eni's customers will have access to completely decarbonized energy products.
We will focus on integrating our existing businesses, starting with renewables and retail, which will be developed simultaneously. In 2030, for example, the supply of renewable energy will reach 15 GW. Eni Gas e Luce customers will therefore have increasing access to green energy thanks to the capacity generated by onshore and offshore solar plants, and wind farms, with projects in Italy and Europe.
To this extent, an example is the agreement that Eni has recently signed for the acquisition of three photovoltaic projects in Southern Spain for a total capacity of 140 MW. An initiative that, in synergy with the entry of Eni gas and luce in the Spanish market, will pioneer the development of green energy projects in the country, with benefits for residential customers, as well as small, medium and large businesses.
Eni gas e luce will also increasingly become a proper advisor to its customers on issues linked to energy, helping them to use it less and better. The sale of photovoltaic panels, for example, is already an integral part of Eni gas e luce's offer thanks to the acquisition of Evolvere SpA (a company specialised in energy distributed from renewable sources) completed in January 2020. This development is in line with the spread of a new energy model where the customer becomes more than a mere consumer, evolving into a producer of renewable energy.
The combination of our green refining and marketing businesses will also give a strong boost to sustainable mobility, increasing the processing capacity of our bio-refineries, which starting from 2023 will no longer use palm oil as raw material. Already today, thanks to our proprietary Waste to Fuel technology, our plants are able to transform the organic fraction of solid urban waste (broadly speaking the so-called organic waste) into bio-oil and bio-methane.
We are also working on reducing the emissions generated by our operations in order to minimise the carbon footprint of our products. We will develop forest conservation initiatives and carbon capture and storage (CCS) projects, and new technological solutions. The REDD+ (Reducing Emissions from Deforestation and Forest Degradation) initiatives, which are developed within the United Nations framework to reduce emissions generated by deforestation and forest degradation, will help preserve primary and secondary forests, absorbing over 20 million tonnes of CO2 per year by 2030, with projects carried out in Africa, South Asia and Latin America. The decarbonization of our operations will also involve the development of projects related to green and blue hydrogen (the production of which does not generate any CO2 emissions), which will allow us to fuel our bio-refineries and other energy-intensive industrial activities. Our CCS projects will allow us to create storage sites for the decarbonization of industrial assets, such as power plants and refineries, as well as plants belonging to third-party companies. By developing this activity, we expect to reach a total CO2 storage capacity of 7 million tonnes per year by 2030.
What we have before us is a concrete, detailed and economically sustainable strategy based on proven technologies which we already know. This strategy will not only lead Eni to be carbon neutral, but will also lead our customers to increasingly reduce their environmental footprint, because they will have access to fully decarbonized products. The journey is mapped out with interim goals that will allow us to track the path to zero emissions in the short, medium and long-term. These are not aspirations, but real objectives to accelerate our transformation, contributing to the broader goal of successfully completing the energy transition.
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