This cooperation between the Massachusetts Institute of Technology (MIT) and the Commonwealth Fusion Systems focuses on the industrial development of nuclear fusion energy production technologies. 1. Does the company recognize climate change as an important issue for the company? This development will be achieved as part of eni`s long-term business plan presented in February 2020, which will highlight know-how, its own technologies, innovations and the flexibility and resilience of its resources, and enable Eni to exploit new opportunities for development and efficiency and further improve workplace safety. 5. Has the company published information on its Scope 1 and 2 greenhouse gas emissions? This public-private partnership, led by the World Bank, aims to reduce global gas flaring with the introduction of its zero-routine initative, which commits its supporters to producing net zero gas caused by routine fire. . – For the period 2014-2021, Eni has set an annual target of 2% improvement for emissions in all industrial facilities. At the same time, emissions from the end-use of Eni products, including gasoline, diesel and kerosene, are measured and controlled by the International Petroleum Industry Environmental Conservation Association. In short, one thing is clear among its major energy groups: Eni is the leader in the decarbonization of its global activities. This private-public partnership encourages the use of global carbon prices. Natural gas will play a central role in the energy transition. It is therefore essential that energy companies reduce their methane emissions. That is why, together with other multinationals in the sector and some of the main organisations in the academic and associative world, Eni has sent the European Commission a document containing short-, medium and long-term recommendations.
It contains a number of policy proposals to reduce methane emissions under the European Green Agreement to achieve climate neutrality by 2050. In order to reduce greenhouse gas emissions in all value chains and supply chains, Eni recently adopted the Greenhouse Gas Protocol, a framework for organizations measuring and reporting their greenhouse gas emissions. The company uses these standards, also known as the GHG protocol, to meet the challenge of providing verifiable emission reduction methods that will be transparent to investors and the public. . 13. Does the company indicate scope 3`s use of product emissions? We have criticised the number of emissions emitted by the oil and gas industry „ambitions“ (never formulated as formal binding targets) – often relatively intense as tons of CO2 per unit of energy produced. In this way, companies in absolute tons of CO2 emissions can stay flat or even increase, as long as they add more co2 power to their portfolios. In fact, Shell explicitly states that its strategy to achieve its intensity ambitions is to „further increase the share of these low-intensity energy products in our portfolio while developing carbon sinks“ instead of considering lower oil and gas production (as we have already discussed). This underlines this: 25% of the CEO`s BONUS is related to the increase in fossil fuel production. Step 3: Integration in Operational Decision Making We have long been committed to reducing climate-changing gas emissions – the results show the effectiveness of our low-carbon strategy. Some of the key results we achieved in early 2020.
Participation in the public-private partnership led by UNEP, Climate and Clean Air Coalition (CACC) Oil – Gas Methane Partnership, with which Eni is developing appropriate plans to combat methane emissions, continues. In 2019, the amount of hydrocarbons sent for flame treatment increased by Sm3 1.2 billion, 15% since 2018 and 29% since 2014, due to the contribution of specific flame reduction projects (Libya, Nigeria, Turkmenistan) and the decline in production, which