ENI promise to be carbon neutral by 2050

26 febbraio 2021 - Italy’s Eni became the latest energy group to increase its climate ambition with a promise to be carbon neutral by 2050, as it seeks to keep pace in an industry under mounting investor pressure to curb emissions. “We commit to the full decarbonisation of all our products and processes by 2050,” Chief Executive Claudio Descalzi said. “Our plan is concrete, detailed, economically sustainable and technologically proven.” In an update to a clean-up drive announced last year, Eni said it would cut absolute emissions by 25% by 2030, from 2018 levels, and by 65% by 2040. 

Eni announced its plans after newly-appointed Prime Minister Mario Draghi at the weekend put climate change at the heart of his plans for Italy and said his government intends to boost renewable energy and green hydrogen production. Its ambitions also follow other announcements from other energy companies, which have set varying targets to reduce greenhouse gas emissions from their operations and the use of the products they sell. Eni, which makes most of its earnings from oil and gas, said the 2050 decarbonisation goal would be reached by growing output from bio-refineries, raising renewable capacity, forestry initiatives, carbon capture and other green projects.