Creating value for the company and its stakeholders is a strategic requirement for an energy company like ours.
The Eni business model is based on three levers that represent our approach to sustainability.
The set of organisational and strategic solutions that we have defined over the years is aimed at creating long-term value for the company, as well as for communities, stakeholders and shareholders. Eni has adopted a systemic approach that aims at efficiency, resilience and growth, that organically integrates sustainability to generate business, and that incorporates the emerging trends of decarbonization and inclusive development, integrating them into its business plan and operating model. Eni therefore adopts a business model driven by the application of its innovative technologies and digitalization process, which is based on the following pillars:
Our guiding values are support for the development of countries, sustainable access of local communities to energy resources, the advancement of people, environmental protection, the fight against climate change, the protection of health and safety, and respect for human rights, ethics and transparency. Sustainability is inherent in the activities of all our business lines: it is the engine of a process of continuous improvement that ensures results over time and strengthens financial performance.
In keeping with the Paris Climate Agreement and in line with the collective commitments to achieve the 17 Sustainable Development Goals (SDGs) adopted in 2015 by the United Nations General Assembly, we pursue a proactive approach to development. We believe that a joint effort by all the players involved (governments, civil society, private companies and large investment funds) is needed to achieve credible results. The activities related to our industry, particularly access to energy, have a direct and indirect impact on all 17 SDGs and are aimed at addressing the root causes of poverty. To bring about positive change for citizens and the planet, in 2017, Eni launched a project in collaboration with the Columbia Center on Sustainable Investment to prioritise the goals to which Eni could contribute most through its activities and in its 2019-2022 Strategic Plan, it has set the objectives to contribute directly or indirectly to the achievement of the SDGs.
Our Board of Directors plays a central role in developing sustainability policies and strategies and in monitoring their results. Since 2014, Eni has established a committee focused mainly on future scenarios and sustainability, with particular attention to processes, initiatives and activities aimed at confirming our commitment to economic and social development along the value chain. In 2018, the committee, which met 12 times, discussed topics such as scenario, environment, climate and technologies, social issues including Human Rights and non-financial reporting. Moreover, on 27 July 2017, the Eni Board of Directors set up an Advisory Board to analyse the main geopolitical, technological and economic trends, including those relating to the decarbonization process for the Board of Directors and our Chief Executive Officer. Even in 2018 and 2019 bearing witness to the importance that Eni attaches to these issues, we set sustainability goals in the Annual Variable Incentive Plan of the Chief Executive Officer, for all managers with strategic responsibilities.
Our IMPRESSO unit, which reports to the Chief Services & Stakeholder Relations Officer, is divided into 4 branches:
Our Code of Ethics comprises the company's rules of behaviour and a practical guide to the operations that we all, people at Eni and suppliers, are called to abide by. Eni's Supervisory Body acts as Guarantor. It promotes and verifies the implementation of the document, presenting a half-yearly report on the implementation and the need to update the Code to Eni’s Control and Risk Committee, the Board of Statutory Auditors, the Chairman and the Chief Executive Officer, who report to the Board of Directors.
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