- RETAIL AND RENEWABLES BUSINESS
San Donato Milanese (Milan), 1 July 2021 – Eni gas e luce has updated its Articles of Association to “Società Benefit” (Benefit Corporation) status, becoming the first major Italian energy company to do so.
A Benefit Corporation represents an evolution of the concept of corporation, as it integrates into its corporate purpose, in addition to the profit objective, the aim of having a positive impact on society, communities and people, as well as on the environment. By becoming a Benefit Corporation, Eni gas e luce takes up a formal commitment to shareholders to balance their interests, the public’s and those of all stakeholders. Benefit Corporations are also required to draw up an annual impact report that has to be added to the financial statements and published on their website.
Benefit Corporation objectives will also be supported by the integration of Eni's renewable energy activities into Eni gas e luce. The integration of the Italian assets is being finalized today. Meanwhile, the two companies are working on the integration of the foreign assets.
"The updating of our Articles of Association to become a Benefit Corporation marks for us a step forward in delivering on the commitments on which we focused over the last years. Eni gas e luce has always worked to offer products and services that go beyond the supply of gas and energy with the objective of helping people to make better use of energy. With the integration of the renewables business, Eni gas and luce acquires an increasingly central and cutting-edge role in the energy transition" said Alberto Chiarini, CEO of Eni gas and luce.
The updating of Eni gas e luce’s Articles of Association to Benefit Corporation is in line with the company’s mission, which aims to assist its customers in using energy better and more efficiently. It is also an important contribution to Eni’s broader commitment to create value through energy transition and contribute to the achievement of the UN Sustainable Development Goals (SDGs).
By adopting the term “Società Benefit” (introduced in Italy by the law n. 208 of 2015), Eni gas e luce, a wholly-owned subsidiary of Eni, is committing to further pursuing the following specific aims of common interest in a responsible, sustainable and transparent way, with the aim of balancing the interests of its shareholders and society:
The integration of Eni's renewable energy activities will provide important support to the Benefit Corporation objectives, contributing to the achievement of scope 3 emission reduction targets, a key part of Eni's strategy towards carbon neutrality by 2050.
Eni gas e luce
Eni gas e luce is the company, 100% controlled by Eni SpA, dedicated to the marketing of gas, electricity and energy solutions to families, condominiums and businesses. The company operates in 6 European countries with 1,600 employees and 10 million customers. In Italy, it is the market leader for the sale of natural gas to households, condominiums and businesses, and is the second operator in the free market for the supply of electricity to homes.
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Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
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