In 2021, Eni defined its new strategy to relaunch its short, medium and long-term strategic targets, which outline the evolutionary and integrated path of the individual businesses and that will lead Eni to carbon neutrality by 2050. Eni pursues a strategy that, by 2050, aims to achieve the net-zero target on GHG Lifecycle emissions Scope 1, 2 and 3 (Net GHG lifecycle emissions), and the associated intensity (Net Carbon Intensity) referred to the entire life cycle of the energy products sold by Eni. The intermediate decarbonization targets were also confirmed and further extended:
- -25% of Net GHG lifecycle emissions (Scopes 1, 2 and 3) @ 2030 vs. 2018 and -65% @ 2040;
- -15% of Net Carbon Intensity of energy products sold @2030 v 2018 and -40% @2040;
- Net Zero Carbon Footprint Upstream for Scope 1 and 2 emissions from upstream activities by 2030, with a new target of halving it by 2024 compared to 2018;
- Net Zero Carbon Footprint Eni for Scope 1 and 2 emissions from all Group activities by 2040.
The medium/long-term targets refer to a perimeter that includes both Eni controlled assets and those operated by third parties, and are accounted for on an equity basis.
The total decarbonization of Eni products and operations will be achieved through existing technologies: increasing the capacity of renewable sources, circular economy projects, digitalisation of operations and customer services, developing CCS (Carbon Capture Storage) technology projects, as well as natural or artificial carbon capture projects to absorb residual emissions.
In addition, REDD+ initiatives will be implemented to protect forests, with the offsetting of more than 6 million tonnes of CO₂ per year by 2024 and more than 40 million by 2050, and bio-refinery capacity will be doubled to around 2 million tonnes by 2024, with a 5-fold increase by 2050. Added to this, blue and green hydrogen projects will be developed to power Eni's bio-refineries and other highly energy-intensive industrial assets.
In relation to short-term targets, Eni has historically been committed to reducing its direct emissions and starting in 2016, was among the first in the sector to define a series of targets to improve the GHG emission performance of the assets it operates, with specific indicators illustrating the progress made so far in terms of reducing GHG emissions into the atmosphere.