Eni has published the voluntary sustainability report "Eni for 2022 – A just transition”, which tells about the main ones results and goals obtained in its path of energy transition. Eni's report differs from the Consolidated Non-Financial Disclosure included in the 2022 Annual Financial Report, because more than with numbers it tells through stories the company's contribution to achieving efficient and sustainable energy with the 2050 goal of carbon neutrality, sharing its social and economic benefits with workers, suppliers, communities and customers in an inclusive and transparent manner. eni for 2022, in short, explores the stories, concrete cases and testimonies of people with whom the company shares its journey. The report explains the path to face these challenges, through the three levers of business model integrated:
- Carbon neutrality by 2050; here we explain the stages and the path that will lead Eni to the total decarbonisation of its processes and products by 2050 and to completely reduce its carbon footprint, both in terms of net emissions and in terms of net carbon intensity.
- Operational excellence highlights ongoing commitment to empowerment, people's health and safety, asset integrity, environmental protection, respect for human rights, business resilience and diversification, and financial strength .
- Alliances for development focuses on Eni's commitment to reducing energy poverty in the countries where it operates. Another objective is to promote fair and sustainable development in collaboration with international actors and in line with the National Development Plans and the 2030 Agenda.
Il business model of Eni is aimed at long-term value creation for all the stakeholder through a strong presence along the entire energy value chain.
“In tackling the challenges facing Eni in the energy sector, we maintain our priorities firm with a continuous commitment to promote access to energy, local development and environmental protection. The success of our strategy cannot be separated from the collaboration with our stakeholders, from private individuals, to the public, to international and civil society organizations, to research institutes" he said Claudio Descalzi, Chief Executive Officer of Eni.
The concept of Just Transition for Eni
In the recently published Report Eni explains that "in promoting a just transition it is essential to adopt a different approach between countries with advanced economies and countries with emerging economies". There are two aspects to take into consideration: the “Transition-Out” – or the need to convert and close certain sites or sectors of activity – and the “Transition In” – or the development of new businesses, infrastructures, products. And it must be considered that the people potentially negatively impacted by the "Transition-Out" may not be the same people who benefit from the "Transition-In".
Similarly, the new "low carbon" sectors must be characterized by decent jobs and positive impacts for communities. The priority in countries with emerging economies must be to reconcile the right to development and access to energy with the global need to reduce emissions, taking into account the principle of "common but differentiated responsibilities". In countries that have always experienced energy poverty and low per capita emission levels, the Just Transition must, in the first place, overcome this level of poverty also through strong international coordination. The aim must be to support these countries in their industrial and technological evolution towards clean energy infrastructures.
The importance of human capital
Likewise, the company undertakes to manage any potential negative impact on workers, communities, consumers and business partners in both “transition-out” and “transition-in” activities, leveraging a solid approach to respect for human rights, diversity, inclusion and women's empowerment. Eni was one of the seven companies in the sector that took part in defining the Just Energy Transition Framework traced from Council for Inclusive Capitalism.
Eni is also developing its own reference framework which includes the commitments that the company has made in the comparisons of four categories: workers, suppliers, communities and consumers. The dialogue will make it possible to systematize the commitments and actions already implemented, defining strategies, objectives and indicators to be monitored over time to evaluate the effectiveness of the path undertaken. The starting point and connecting element between Eni's strategy and the management of the social repercussions and opportunities of this path is the human rights management model, which has been successfully developed and consolidated in Eni's main processes over the last five years.
“Today more than ever it is necessary pool resources and human capital, through a broad vision, which allows for alignment on common objectives to reduce existing gaps at a geographical level and promote global human progress" he explains Descalzi in the report.
Carbon neutrality targets for 2050 confirmed
Eni has kept its own commitments towards carbon neutrality to 2050 confirming the decarbonisation objectives. The company achieved a 17% reduction in Net GHG Lifecycle Emissions (Scope 1+2+3) compared to 2018, continuing to implement the necessary measures to achieve the zero net emissions (scopes 1 and 2) in the Upstream by 2030, investing in innovative technologies and low carbon footprint projects. In 2023 it launched the FPSO (Floating Production, Storage and Offloading Unit) which will be used to start production of the Baleine project, the most important discovery ever made in the Ivory Coast and the first net-zero Scope 1 and 2 development in Africa.
Offer conversion opportunities to existing businesses
The energy transition first requires a technological transition. In the just transition process, the United Nations Sustainable Development Goals they represent a fundamental point of reference for conducting business in emerging countries. With this in mind, Eni is working to ensure that the decarbonization process offers opportunities for the conversion of existing activities and the development of new production chains with significant prospects in the countries in which it operates. For example, in 2022, it was delivered to Eni biorefinery in Gela the first load of vegetable oil produced in Kenya (from waste and raw materials produced in degraded land, not in competition with the food chain) which has generated positive effects on employment and local development. A model that will be replicated in other countries.
Promote access to energy and education in the countries where it operates
Eni has paid particular attention to initiatives for promote access to energy and education in the countries where it operates, especially in Africa. The agri-business projects, for example, embody the company's approach towards a just transition, marked by a strong focus on the social dimension. They were projects started in the Ivory Coast, Mozambique and Ghana to facilitate access to efficient cooking methods and tools. In particular, over 20.000 improved stoves were distributed in the Ivory Coast in 6 months, reaching more than 100.000 people. Eni has also promoted the right to education in Congo, Ghana, Iraq, Mexico, Mozambique and Egypt, where it has also inaugurated the Zohr Applied Technology School, a school that aims to improve the energy and technological skills of students and students.
THU to download the complete Eni For 2022 report.
