Eni presented the World Energy Transitions Outlook (WETO 2022) report, in collaboration with the International Renewable Energy Agency (IRENA), on June 9 at 5:30 p.m. at the Complesso Ostiense in Rome and via a live streaming broadcast.The meeting was attended by Minister of Ecological Transition (MITE), IRENA Director General Francesco La Camera, Eni CEO Claudio Descalzi and IRENA Director Planning and Programme Support Elizabeth Press. The event was moderated by Giorgia Cardinaletti (Rai Journalist).
The WETO 2022 report on energy transition outlines priority actions to be taken by 2030 to try to curb the rise in global temperatures by 2050 to 1.5°C above pre-industrial levels, providing in-depth analysis of two areas that are particularly relevant to decarbonising end-use sectors: electrification and bioenergy. The report also investigates the socioeconomic impact of the pathway to 1.5°C and suggests methods and tools for governments and institutions that signed the 2015 Paris Agreement to accelerate progress towards universal access to clean energy.
The 2022 WETO report confirms that the energy transition process is increasingly urgent in a context of global crisis and outlines a pathway towards the goal of zero net emissions by 2050, emphasising that:
Short-term measures to deal with crises must be combined with a constant focus on a successful energy transition in the medium and long term
Any action that is not radical and urgent will reduce or even eliminate the chances of maintaining the 1.5°C or even 2°C target
Accelerating the energy transition is also necessary to ensure long-term energy security, price stability and the resilience of nations
Reviewing plans, policies, tax regimes and the structure of the energy sector that hinder progress is a political choice.
The pathway to 1.5°C requires a major shift in energy production and consumption, which should lead to a reduction of 37 GT of CO2 emissions per year by 2050. This target can be reached by:
significantly increasing the generation and direct use of electricity based on renewable sources
substantially improving energy efficiency
electrifying all types of end use (e.g. electric vehicles and heat pumps)
using green hydrogen and its derivatives
using sustainable bio-energy associated with CO2 capture and storage systems
using CO2 capture and storage systems in the so-called “last mile”.
In 2021 Eni and IRENA launched a partnership aimed at facilitating dialogue and the sharing of expertise to speed up the energy transition and the development of renewable energy in fossil fuel-exporting countries. The agreement also aims to identify obstacles to private sector investment in renewable energy in countries where Eni operates and to foster coordinated solutions with governments with a special focus on biofuels, marine energy and offshore renewables.
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