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Eni’s support for Natural Climate Solutions

In our decarbonization strategy, nature-based solutions play an important role in offsetting residual GHG emissions.

An additional tool for the Net Zero target

Natural Climate Solutions (NCS) are initiatives for the protection, sustainable land management and restoration of natural ecosystems that increase carbon storage and/or prevent greenhouse gas (GHG) emissions. They can be concerned with forests and, in addition to combating climate change, they help protect biodiversity, increase the resilience and adaptability of environmental systems to climate change and boost development in local communities. The role of NCS in achieving Net Zero is also recognised by the Intergovernmental Panel on Climate Change (IPCC) which, in most of the scenarios compatible with the objective of containing the temperature to within 1.5°C of what it was in pre-industrial times, envisages NCS to be among the solutions to be implemented to reduce emissions and remove CO2 from the atmosphere.
Potential for the abatement of GHG emissions
On a global scale, analysis performed by the United Nations (United Nations Environment Programme and International Union for Conservation of Nature 2021 - Nature-based solutions for climate change mitigation - Nairobi and Gland) estimates that NCS have an overall potential for reducing GHG emissions by 5 to 12 billion tonnes (Gton) of CO₂ by 2030, on average equivalent to 30% of the reduction needed to align the global emission trajectory with a scenario compatible with containing global warming to within 1.5°C of that of the pre-industrial period.

Eni’s NCS initiatives

Eni’s decarbonisation strategy foresees the use of NCS to offset residual CO2 emissions, i.e. those that cannot be abated using current technologies.

95% of the Eni target of achieving net zero emissions by 2050 will be achieved through a range of solutions identified to decarbonise its activities and operations. The company has adopted a holistic approach that will focus on energy efficiency, cutting-edge technologies and the development of existing businesses, for example renewables, bio-refning and sustainable mobility, further relaunched with the creation of two dedicated companies: Plenitude and Eni Sustainable Mobility.

Emission offsetting projects make up the remaining 5% required to achieve Eni's goal of net zero emissions by 2050.

Eni plans to gradually offset its residual emissions by leveraging nature-based solutions, the so-called "Natural Climate Solutions" and Technological Projects, with the aim of maximising the component of removing carbon dioxide from the atmosphere, the so-called “carbon removal”, over time.

Offsetting emissions takes place through the acquisition of high-quality carbon credits. NCSs include, for example, initiatives for the conservation, restoration and sustainable management of forests, mainly in developing countries, which are considered among the most internationally relevant in the context of climate change mitigation strategies.

Eni’s first activities in the field of NCS were initiated in the area of forest protection, working alongside governments, local communities and United Nations agencies, in line with NDCs (Nationally Determined Contributions), National Development Plans and Sustainable Development Goals (SDG).

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Eni’s commitment to forest protection and conservation

In an international context characterised by a rapid rate of deforestation, particularly of primary forests in tropical and subtropical regions, which compromises biodiversity and causes the emission of biliions of tonnes of CO2and other greenhouse gases, the fight against the destruction and degradation of forests constitutes an essential element in the struggle against climate change in the short term. The forest conservation, restoration and sustainable management initiatives supported by Eni are part of the REDD+ (Reducing Emissions from Deforestation and forest Degradation) scheme, defined and promoted by the United Nations (particularly under the UNFCCC - United Nations Framework Convention on Climate Change). in addition to forest conservation work aimed at reducing emissions and improving the natural storage capacity of CO2, the projects encourage an alternative development model for local communities by promoting socio-economic activities in line with the sustainable management of forests, their improvement, and the preservation of biodiversity. With complete respect for communities and with their active participation, Eni proposes initiatives for economic diversification (e.g. sustainable agricultural projects), initiatives for access to energy and Clean Cooking, and education and professional training programmes.

With this in mind, Eni has gradually built a solid network of agreements with recognised international developers such as BioCarbon Partners, Terra Global, Peace Parks Foundation, First Climate, and Carbonsink. These partnerships enable Eni to monitor the development and implementation of projects and check their adherence to the principles of the REDD+ scheme, a prerequisite for obtaining the Verified Carbon Standard (VCS) certification. Moreover, thanks to these partnerships, Eni can measure its social and environmental impact according to the highest internationally recognised standards (e.g. Climate Community & Biodiversity Standards - CCB).

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Here are the main forest protection and conservation initiatives supported by Eni:

  • Luangwa Community Forests Project (LCFP) in Zambia: in 2019 we signed an agreement with BioCarbon Partners whereby Eni commits to purchasing the carbon credits generated until 2038 and acquires a role in the governance of the project. It covers approximately 1 million hectares and involves over 200,000 beneficiaries. It is currently one of the largest REDD+ projects in Africa to have been awarded CCB "Triple Gold" validation for its outstanding social and environmental impact by VERRA, a leading non-profit organisation in carbon credit certification.
  • Lower Zambezi REDD+ Project (LZRP) in Zambia: finalised in 2021, the agreement for the purchase of credits by Eni which makes it possible to finance the implementation of the project and promote access to health services and education for local communities.
  • Ntakata Mountains in Tanzania: credit purchase agreement finalised in 2021. The purchase of credits by Eni helps finance the annual costs of implementing this nature-based project, and enables forest communities to pay for important social services such as health and education.
  • Amigos de Calakmul in Mexico: we signed an agreement with Terra Global and First Climate in 2021. Eni finances the project launch and undertakes to purchase long-term credits in order to support the conservation of forests by the Ejido and to participate in a role of continuous supervision.