Since 2014, Eni has been on a path of industrial and financial transformation that has progressively enabled us to create value even in difficult scenarios, delivering security of supplies and environmental sustainability.
Despite high volatility and uncertainty, in 2023 Eni has confirmed its decarbonization strategy and its main medium- to long-term emission and business targets. Eni's path to Carbon Neutrality in 2050 is made up of a series of intermediate targets that involve first of all achieving net zero emissions (Scope 1+2) from the Upstream business by 2030 and from Eni in its entirety by 2035, and then achieving net zero by 2050 from all GHG Scope 1, 2 and 3 emissions associated with Eni's entire value chain, both in absolute terms and in terms of intensity.
The strategic drivers of the decarbonization process will be the new technologies and their fast-track development, both to create a diversified energy mix for the energy transition and to support energy security, continuing to create value and breakthrough opportunities. Moreover, Eni has long-standing and solid partnerships with academia, civil society, institutions and the business associations to contribute to the energy system decarbonisation.
Creating long-term value
The pillars of our evolution that will lead Eni towards Net Zero in 2050.
Eni’s strategy towards Net Zero is supported by an industrial transformation plan that encompasses the whole value chain, including the optimisation and enhancement of the upstream portfolio through progressive decarbonization, combined with the expansion of bio, renewable and circular economy businesses and with the offer of new energy solutions and services. The transformation plan is also supported by cross-cutting activities that seek to both optimise existing solutions and develop breakthrough innovations to accelerate the decarbonization process.
Around 90% of the absolute reduction target in the long term will be achieved by transforming conventional operations. As regards upstream, hydrocarbon production will decrease in the medium to long term, with a plateau expected by 2030 and progressive growth of the gas component, which will reach 60% by 2030 and more than 90% after 2040. At the same time, Eni confirms its decarbonization targets with zero net emissions (Scope 1+2) for the upstream business by 2030 and intermediate reduction targets of 50% by 2024 and 65% by 2025 compared to 2018, based on the levers of energy efficiency, zero routine flaring and methane emission minimisation. Midstream and Downstream activities will contribute to reducing emissions mainly through the enhanced use of equity gas and LNG and the conversion of traditional refineries into bio-refineries. CO₂ capture and storage projects will play a complementary role in reducing emissions that are difficult to abate with existing technologies, and only about 5% of the total reduction in supply chain emissions by 2050 will be related to compensation through offsetting, mainly from Natural Climate Solutions.
Eni's decarbonization strategy is based on a plan that takes into account market trends and the evolution of society with specific targets for each business line:
Gas as support for the energy transition.
Skills and technology in research and development of energy from alternative sources.
Biofuels & Sustainable Mobility
Proprietary technologies and strategic agreements for future mobility.
Our transition path towards a circular economy.
Capturing carbon dioxide for storage or reuse in innovative ways.
Natural Climate Solutions
Eni's commitment to forest protection and conservation.
The evolution towards a fully decarbonized product portfolio will be supported by a progressive growth in the share of investments in new energy solutions and services, which will reach 30% of total investments in 2026, 70% in 2030 and up to 85% in 2040.
After 2035, these activities will generate positive free cash flow and contribute about 75% of the Group's cash flow on average over the 2040-2050 period. Zero and low carbon spending will be 13.8 billion euros in the 2023-26 period:
Eni also undertakes to align investment plans and decisions with its decarbonization strategy: the share of expenditure devoted to Oil & Gas activities will be gradually reduced, assessing the main investment projects in line with the targets set for the reduction of emissions and with the commitment to phase out investments in carbon-intensive “unabated” activities or products as a necessary condition to achieve carbon neutrality by mid-century.
Partnerships for carbon neutrality
A strategic driver to enhance and generate knowledge, share best practices and support initiatives that simultaneously create value for the company and its stakeholders.
Alongside its commitment to ensuring the integrity of its operations, as a responsible operator Eni is also actively addressing the issue of adaptation to Climate Change also regarding the socio-economic and environmental impacts in the countries where it operates. To this end, a project for the assessment of the main risks and opportunities connected to Climate Change was finalised in 2021 in collaboration with FEEM (Fondazione Eni Enrico Mattei) and the Pisa Institute of Management (IDM). The project led to the development of guidelines and measures which provide methodological support for the identification and implementation of adaptation actions in countries of interest for Eni.
THIS WEBSITE (AND THE INFORMATION CONTAINED HEREIN) DOES NOT CONTAIN OR CONSTITUTE AN OFFER OF SECURITIES FOR SALE, OR SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OR IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR FOR THE ACCOUNT OR BENEFIT OF ANY U.S. PERSON AS THAT TERM IS DEFINED IN THE SECURITIES ACT (A "U.S. PERSON"), AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH AN OFFER OR SOLICITATION WOULD REQUIRE THE APPROVAL OF LOCAL AUTHORITIES OR OTHERWISE BE UNLAWFUL (THE "OTHER COUNTRIES"). THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR PURSUANT TO THE CORRESPONDING REGULATIONS IN FORCE IN AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE “OTHER COUNTRIES” AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON UNLESS THE SECURITIES ARE REGISTERED UNDER THE SECURITIES ACT, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IS AVAILABLE. NO PUBLIC OFFERING OF SUCH SECURITIES IS INTENDED TO BE MADE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN THE “OTHER COUNTRIES.”
In any Member State of the European Economic Area ("EEA"), the information contained in this website is only directed at and may only be communicated to persons who are "qualified investors" ("Qualified Investors") within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the "Prospectus Regulation").
The information to which this website gives access is directed only at persons (i) who are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) who have professional experience in matters relating to investments falling within Article 19(5) of the Order or (iii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). Any investment or investment activity to which this communication relates is only available to relevant persons and will be engaged in only with relevant persons, or in the EEA, with Qualified Investors. Any person who is not a relevant person, a Qualified Investor or otherwise permitted under applicable law or regulation to access the information, should not act or rely on the information contained herein.
Confirmation of Understanding and Acceptance of Disclaimer
These materials are for informational purposes only and are not directed to, nor are they intended for, access by persons located or resident in the United States, Australia, Canada, Japan or South Africa or any of the Other Countries. I certify that:
I am not resident of, or located in, the United States, Australia, Canada, Japan or South Africa or any of the Other Countries or I am not a U.S. Person; or
If I am a resident of, or located in, the EEA, I am a Qualified Investor within the meaning of Article 2(e) of the Prospectus Regulation; or
If I am a resident of, or located in, the United Kingdom, I am a Qualified Investor and a relevant person.
I have read and understood the disclaimer set out above. I understand that it may affect my rights. I agree to be bound by its terms and I am permitted under applicable law and regulations to proceed to the following parts of this website.
WARNING: the above certification constitutes a "self-certification" pursuant to Decree of the President of the Italian Republic No. 445 of 28 December 2000. False certifications are punishable by law.
You must read the following information before continuing.
The information contained in this segment of the website is not intended for, and must not be accessed or distributed or disseminated to persons resident or physically present in the United Kingdom, Canada, Australia, Japan or any other jurisdiction in which it is unlawful to do so. The information also is not intended for, and must not be accessed or distributed or disseminated to persons resident or physically present in Italy who are not “qualified investors” (investitori qualificati), as defined in Article 2, letter e) of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) pursuant to Article 1, fourth paragraph, letter a) of the Prospectus Regulation as implemented in Italy by Article 35, paragraph 1, letter d) of CONSOB regulation No. 20307 of February 15, 2018.
By clicking the button below labeled “I agree”, you are certifying that (A) if you are in the European Economic Area, you are a “Qualified Investor”; (B) you are not accessing this portion of the website from the United Kingdom, Australia, Canada or Japan; (C) if you are a resident or physically present in Italy, you are a qualified investor as defined under the Prospectus Regulation as implemented in Italy by Article 35, paragraph 1, letter d) of CONSOB regulation No. 20307 of February 15, 2018; and (D) you are not located in a jurisdiction where it is unlawful to access this portion of the website.
You acknowledge that the information and statements contained in the document you are accessing on this website speak only as of the date of such document (or such other date(s) specified therein), and such information and statements may become inaccurate, stale and/or out-of-date thereafter and should not be relied upon for any investment decision.
You acknowledge that the materials on this website that you are accessing are confidential and intended only for you and you agree you will not forward, reproduce, copy, download or publish any of such materials (electronically or otherwise) to any other person if this is not in accordance with the law.
You acknowledge that the access to information and documents contained on this portion of the website may be illegal in certain jurisdictions, and only certain categories of persons may be authorized to access this portion of the website. If you are not authorized to access the information and document contained on this portion of the website or you are not sure that you are permitted to view these materials, you should leave this portion of the website.
You acknowledge that no registration or approval has been obtained and Eni Gas e Luce S.p.A. società benefit and its affiliates assume no responsibility if there is a violation of applicable law and regulation by any person.
By clicking the button below labeled “I agree”, you are confirming that you have read and understood the disclaimer above.
If you cannot so confirm, you must exit this portion of the website