Our Advocacy activities in favour of climate issues
Eni supports and shares in a clear and transparent manner its positioning on the main principles deemed essential for defending climate.
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Eni is working towards greater transparency around climate lobbying and we engage with governments, regulators and other companies to help shape comprehensive policies and regulations. Eni engages with governments and regulators directly and through groups such as industry associations or advocacy coalitions.
Eni supports the proposal for a European climate reporting standard and believes that, in general, the requirements proposed by EFRAG are useful to ensure comprehensive reporting on companies' decarbonisation strategy. Eni hopes that the most prominent international standard setters will soon issue clear guidance on those metrics required by the draft standard whose calculation methodologies are still debated.
Eni welcomes the ISSB's draft standard on climate disclosure as it is based on the 4 key areas for users and preparers already outlined by the TCFD (Governance, Risk Management, Strategy and Targets & Metrics), and complements the set of minimum cross-sectoral requirements with a sector-specific metrics to grasp the specificities of individual sectors. We hope that sector-specific requirements can be further elaborated, also through a comparison with robust, recognised and widely adopted sector-specific standards (e.g. for the O&G, IPIECA/API/IOGP Standard).
In the response letter to the US SEC, Eni praises the Commission's decision to develop a mandatory standard to harmonize corporate climate reporting, including disclosure of their greenhouse gas emissions (Scope 1, 2 and 3). In the development of this framework, Eni strongly encourages the Commission to build on existing guidelines such as the TCFD recommendations and strive for convergence between its climate disclosure standards and those being developed by other prominent international regulators (e.g., EFRAG, ISSB).
Eni welcomes and strongly supports the initiative of the EU Commissions regarding the certification of carbon removals solutions. Eni believes that harmonizing at the EU level the rules on the certification of each type of carbon removal activity will increase the trust of private players in developing such solutions, having clear the environmental and social benefits resulting from their implementation. This will also facilitate the decision-making process and will scale up investments in the carbon removal market.
Eni supports the proposal of a European-wide law to combat methane emissions, with the goal of achieving climate neutrality by 2050. In this regard, Eni endorses the European Commission's goal of improving the accuracy of information about methane emission sources and reducing emissions. Eni also suggests to improve the proposed regulation, taking into account that requirements should balance the emission rate and the associated probability of occurrence against the costs for operators of complying with obligations.
Through the participation in the Methane Guiding Principles initiative, Eni is committed to advocating for sound methane policies and regulations that incentivise early action, drive performance improvements, facilitate proper enforcement, and support flexibility and innovation. A subset of the Methane Guiding Principles initiative developed detailed recommendations to support timely European Union (EU) legislation that achieves ambitious methane emissions reduction outcomes across the supply chain of natural gas consumed in the EU.
Methane policy recommendations for the EU – Upstream Venting and Flaring. This Upstream paper complements an April 2021 mid and downstream publication: Recommentations-on-Venting-and-Flaring.pdf (marcogaz.org)
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