Eni is the latest oil and gas company to commit to net zero by 2050.
Eni is the latest oil and gas company to commit to net zero by 2050.
Presenting the company’s strategic plan for 2021-2024, Eni CEO Claudio Descalzi introduced a target for absolute emissions of -25% at 2030 vs 2018 and -65% at 2040. He also introduced new targets for net zero carbon intensity by 2050 of -15% at 2030 instead of 2035. Reduction will reach -40% in 2040.
The company’s installed renewable capacity will be 15GW by 2030.
Meanwhile, Eni reported adjusted operating profit of $2.3 billion in the full year ($0.6 billion in the fourth quarter), which decreased by $8.2 billion.
Adjusted net profit was $80 million in the quarter. For the full year the adjusted net result was a loss of $900 million.
In 2020, net organic capital expenditures were $6 billion (down by $3.2 billion from 2019). Opex was reduced by $2.3 billion compared to the pre-Covid level.
