We are doing everything we can to decarbonise production processes in all areas of operation.
We are reducing climate-change emissions and aiming to improve the efficiency of our activities as our contribution towards a low-carbon future.
In order to guarantee sustainability over the long term as we journey towards a low-carbon future, we have devised a decarbonisation strategy as one of the mainstays of our business model during the current energy-transition stage. As a key player in the energy sector, we are well aware that we have an important role to play in containing emissions and the fight against climate change.
Our activities include:
Our decarbonisation strategy has been strengthened, in terms of the Oil & Gas Climate Initiative (OGCI), by promise of a $1bn investment over the next 10 years to develop and accelerate the spread of innovative technologies leading to low emissions. Our climate-change strategy has also received the approval of the Transition Pathway Initiative (TPI), while for the tenth year running we have been included in the FTSE4Good Index. Moreover, Eni is the only company among the major players in the oil and gas sector to rank on the “A list” of the CDP, the main reference for stock markets to evaluate performance levels, strategies and management of climate-change risks.
Our climate strategy cannot be separated from our business model; we know we must be ever more efficient and improve the energy performance of our production processes. Interventions made in 2016 will result in savings, when fully operational, of approximately 231 ktep per year (equivalent to 541t CO2 per year). In our sector we adopt energy-management systems certified to ISO 50001, aiming for continuous improvement of energy performance in areas including energy efficiency and the consumption and use of energy.
Claudio Descalzi, Eni for 2016
The interventions we implemented for the production mix from 2010 to 2016, aimed at containing climate-change gas emissions, have ensured the reduction of total emissions by 31 per cent and the emission intensity index in the upstream sector by 30 per cent. The results achieved are in line with our goal to bring about a reduction of the emission intensity in the upstream sector of 43 per cent by 2025 compared to 2014.
In addition, we have a programme to reduce gas sent to flaring that will entail its exploitation through the production of electricity that can be used to help local populations or be distributed for home consumption or export. We adhere to the Global Gas Flaring Reduction (GGFR) initiative sponsored by the World Bank and aim to reach zero flaring five years ahead of target, with planned investment of €500m by 2020.
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