Eni pledges to reach net-zero carbon emissions by 2030

By Sophie Chapman
The Italian oil ad gas firm, Eni, has committed to reaching net-zero carbon emissions within its operations by 2030. The company has also announced its...

The Italian oil ad gas firm, Eni, has committed to reaching net-zero carbon emissions within its operations by 2030.

The company has also announced its plans to increase oil and gas production by 3.5% per annum over the next three years, edie.net reported.

The firm will increase its production due to existing business strategies, which will see 2.5bn barrels of oil and gas to be generated by 2022.

The recent pledge forms part of Eni’s business transformation which aims to conform to Paris Agreement targets.

SEE ALSO:

According to the company’s Chief Executive Officer, Claudio Descalzi, the group will invest upwards of 3bn (US$3.4bn) on renewable energy, energy efficiency, waste-to-energy, and a forestry offsetting scheme.

The scheme will see Eni plant enough trees to capture up to 20Mt of carbon during the review period.

Almost €1.5bn ($1.7bn) will be used for renewables, with the Italian company aiming to install more than 10GW of capacity, specifically targeting its investment towards solar power. Currently the firm has installed 0.2GW of green energy.

The company will work to convert organic waste into biofuel, to be used by boats and cars.

Share

Featured Articles

Avarni expert addresses carbon emissions disclosure laws

With new legislation in the state of California, large businesses will now be required to report their Scope emissions effectively to avoid greenwashing

Sustainability LIVE covers circular economy and investment

Sustainability LIVE London 2023 day two brought more unique perspectives on ESG, including EV charging, ethical finance, DEI, and the circular economy

Sustainability LIVE welcomes corporate attendees to the BDC

Sustainability LIVE 2023 reaches new heights with a record attendance and high-quality speaker lineup, discussing electrification, EVs, ESG and emissions

SUSTAINABILITY LIVE London: SOLD OUT!

Sustainability

SUSTAINABILITY LIVE London: Capgemini, ShareAction

Sustainability

Sustainability LIVE London: EY, Tech Mahindra, Tate & Lyle

Sustainability