According to FAO data, from 2015 to 2020, the deforestation rate was 10 million hectares per year, equivalent to approximately 1/3 of the entire surface of Italy. Forests are degraded and the area they cover is being reduced due to unsustainable farming, illegal logging, unsustainable use of biomass for energy use and increased urbanization. All of these phenomena increase anthropogenic CO2 emissions and considerably reduce the natural absorption capacity of the carbon present in the atmosphere (known as Natural Carbon Sink), in the face of increased emissions linked to industrialisation.
This is why we have made forest conservation projects one of the pillars of our decarbonization strategy, recognising the important and growing role of Natural Climate Solutions (NCS) in limiting global warming to 1.5°C, as set out in the more ambitious Paris Agreement target. Regarding NCS, we mainly focus on tropical forests, which account for about 45% of the world's forest area and have a high capacity to absorb and store carbon, and on developing countries which, according to the Special Report on Climate Change and Land of the Intergovernmental Panel on Climate Change (IPCC), have the greatest potential to mitigate emissions.
More broadly, our decarbonization strategy aims to abate scope 1 and 2 net absolute emissions for our Upstream business by 2030, and for all Eni businesses by 2040, and to achieve net zero scope 1, 2 and 3 emissions from the entire value chain of of the energy products sold by Eni by 2050.
In this context, carbon credits generated by REDD+ projects are a key lever in neutralising part of the residual emissions that are “hard to abate” using current technologies.