We work with the academic community, civil society, institutions and businesses to research specific solutions for sustainable development.
We work with academics, civil society, institutions and businesses to find solutions to the problems of climate change.
This initiative, promoted by the CEOs of 10 of the world’s largest oil and gas companies, aims to promote leadership in the industry’s response to climate change. It was officially launched at the UN Climate Summit that took place in September 2014 in New York. On 16 October 2015, the CEOs of participating OGCI companies met in Paris and launched a Joint Collaborative Declaration that recognised the ambition of a low-emission future and announced collaboration on a number of issues.
The occasion also saw the launch of the first OGCI report presenting the concrete measures that have been taken to improve the management of greenhouse gas emissions (GHG) and to contain long run impacts on climate (such as major investments in natural gas, the capture and storage of carbon dioxide, renewable energy and research and development of low GHG emission technologies.
During 2016, the activities focused on three areas:
At an event held in London in November 2016, members of the OGCI renewed their commitment also with the announcement of a joint investment of US $1 billion in the development of technologies for the reduction of GHG emissions. The deployment of this technology will have a multiplier effect on the OGCI’s investment in a low carbon economy, with the expected goal of reducing global GHG emissions in the order of 1 GtCO2 over the next decade.
Eni is the founder of the Fondazione Eni Enrico Mattei, an independent foundation recognised by the President of the Republic in 1989. FEEM conducts research activities in the field of sustainable development and global governance. In particular, the “Climate Change and Sustainable Development” Research Programme addresses climate change and sustainable development issues and other key areas related to the economy of the environment.
This joint initiative, promoted by Eni, along with BP, Shell, Statoil and Total, has been developed to pursue the introduction of carbon dioxide emission taxation systems by creating clear, stable and more ambitious legislative frameworks that could ultimately harmonise the different national systems. This would reduce uncertainty and encourage more advantageous ways of substantially reducing carbon dioxide emissions. On 1 June 2015, the companies announced an appeal to governments around the world and to the United Nations Framework Convention on Climate Change (UNFCCC). The six signatory companies expressed their position in a joint letter, signed by their respective chief executives, addressed to the Executive Secretary of the UNFCCC and the President of the XXI Conference of the Parties (COP21) of the UNFCCC.
Since the Paying for Carbon letter, Eni has been working within the public-private Carbon Pricing Leadership Coalition initiative to create effective dialogue with governments and businesses around the world. For many years, Eni has also been a member of IETA, the leading international association for carbon pricing advocacy.
Gas flaring, a practice that contributes to the emission of carbon dioxide, involves the burning (without energy recovery) of excess natural gas, extracted with oil, because of the lack of infrastructures to enhance and transport it to places of consumption or employ it in the production of electricity and heat. Eni is a member of the public-private Global Gas Flaring Reduction (GGFR) partnership, launched at the World Summit on Sustainable Development in August 2002 and led by the World Bank. The partnership brings together around the same table representatives of the governments of oil producing countries, state oil companies, and international oil companies in efforts to jointly overcome the barriers to the reduction of gas flaring through the sharing of global best practices and the introduction of country-specific programmes. Since November 2014, the partnership has supported the “Zero Routine Flaring by 2030” initiative, which involves governments, oil companies and other development institutions that recognise that the current flaring situation is unsustainable, from both an environmental and a resource management perspective. In this context, the bodies involved aim to coordinate action to achieve the goal of eliminating “routine” flaring by 2030. In 2015, the World Bank awarded Eni for its flaring down project at M’Boundi in Congo.
Eni is also a member of the CACC Oil & Gas Methane Partnership, an initiative coordinated by UNEP, which is focused on reducing methane emissions in the oil and gas sector. In this context, Eni has submitted a methane emission control plan in upstream activities, in line with the monitoring and control requirements for members of the partnership. The partnership is based on the commitment to collaboration and support among the partners involved to define technological approaches for a flexible and systematic reduction of methane emissions, establishing a forum for consultation and discussion between partners and communication - with the public, investors, NGOs and governments - on the industry’s progress in terms of methane emissions reductions. Along with Eni, the initiative, presented at the United Nations Climate Summit in September 2014, is supported by BG, PEMEX, PTT, Southwestern Energy, Statoil and Total. On 18 October 2016, the CACC presented its primo report on the first year of activity by the 6 companies that form the core of the initiative. Eni’s goals and results are published on pages 18 and 19.
This initiative was launched by the United Nations Global Compact and the United Nations Environment Programme (UNEP) to promote the role of businesses in the climate change debate. As part of this initiative, Eni is engaged in the work streams on Carbon Pricing and Transparency and Disclosure.
The issue of climate disclosure has always been central for Eni, which, since 2003, has responded every year with increased engagement to the CDP (formerly the Carbon Disclosure Project) questionnaire on climate change. The CDP, with the support of over 800 institutional investors who administer over $100 trillion, is considered a benchmark for capital markets for climate change-related risk management and opportunities. Thanks to our commitment to transparency, in 2016 Eni was recognised by CDP Global Leader for its Climate Change Response Strategy and included in the “A list”. The “Climate A list” includes only 9% of the thousands of international companies rated by the CDP.
With regard to disclosure, Eni is also a member of the Task Force set up in December 2015 by the Financial Stability Board (FSB-TCFD) to develop international policy recommendations and guidelines related to climate change risks. On 12 December 2016, the “Recommendations of the Task Force on Climate-Related Financial Disclosures” was published and Task Force’s recommendations will be officially formalised at the end of public consultation
Eni also supports this UN initiative aimed at mobilising action towards sustainability in all sectors of society.
We are engaged in debates and discussion with other oil and gas companies on sustainability issues, also as part of the IPIECA, an association involving oil companies for the improvement of the industry’s environmental and social performance. Eni is a member of the Executive Committee of the association and actively participates in task forces dedicated to specific issues.
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