Climate Change Data

Environmental Metrics

ESG Focus Areas

• Decarbonization
• Cooperation Model
• Operating Model
• Climate Change
• Human Rights
• Access to Energy
• Local Development
• Safety
• Environmental Protection
• Transparency and Anti-corruption

Environmental Achievements

• -35% reduction in the number of operational oil spills and spills caused by sabotage
• 83% increase in water re-injection by 2021 in Nigeria, Congo, Turkmenistan and Angola (target)
• 59% increase in water re-injected (+1% vs 2016)

Social Achievements

• Implementation of the OPI on paternity and maternity leave, guaranteeing 10 days’ leave on full pay to both parents in Italy and abroad
• Launched the Green River Project (GRP) in 1987 aimed at developing a sustainable agricultural and food production system to promote the social and economic well-being of the rural populations of the Niger Delta
• Community investment of €70.7 million

Governance Achievements

• Implementation of the new mandatory reporting regime and an EITI support community for subsidiaries
• Eni SPA was the first Italian company to achieve ISO 37001:2016 “Antibribery Management Systems” certification
• Sustainability objectives included in the annual variable incentive plan for the CEO and all managers with strategic responsibilities

Climate Goals & Targets

Environmental Challenges

• Climate change
• Oil spills from sabotage (particularly in Nigeria)
• Access to energy in Sub-Saharan Africa
• Water stress in some operational areas
• Human rights challenges in certain operating contexts (e.g., Myanmar)

Mitigation Strategies

• Path to decarbonization strategy
• Investments in oil spill prevention (€25.7 million in 2017)
• Investments in access to energy infrastructure (approx. $2 billion in Sub-Saharan Africa)
• Water management plans to reduce consumption
• Human Rights Impact Assessments (HRIAs) and mitigation actions (e.g., Myanmar)

Supply Chain Management

Supplier Audits: More than 5,000 suppliers subject to checks and assessments in 2017

Responsible Procurement

• Requires suppliers to commit to respecting human rights, high safety standards, environmental protection, anti-corruption, and ethical conduct.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of renewable energy sources, biofuels, and green chemistry

Reporting Standards

Frameworks Used: GRI (in accordance - core), IPIECA/API/OGP, UN Global Compact

Certifications: ISO 14001

Third-party Assurance: Limited assurance by an independent auditor

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 8 (Decent Work and Economic Growth)
• SDG 3 (Good Health and Well-being)
• SDG 4 (Quality Education)
• SDG 13 (Climate Action)
• SDG 14 (Life Below Water)
• SDG 15 (Life On Land)
• SDG 17 (Partnerships for the Goals)

Eni's initiatives contribute to these SDGs through various programs and projects related to energy access, economic development, health, education, environmental protection, and partnerships.

Sustainable Products & Innovation

• Biofuels
• Green chemistry products

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance
• Circular Economy
• Decarbonization
• Local Development
• Safety

Environmental Achievements

• Treated and regenerated more than 30 million m3 of water, of which about 5 million m3 were recovered for industrial uses.
• Managed about 1.7 million tonnes of industrial and reclaimed waste, with 66% being treated water and 60% of recoverable waste recovered.
• Made more than 50% of reclaimed areas available for new uses.
• Started up a Waste-to-Fuel pilot plant in Gela to transform organic waste into bio-oil.

Social Achievements

• Launched a nine-month environmental training program for employees of Upstream subsidiaries in eight countries.
• Developed four social projects in Basra, Iraq, focused on health and environmental initiatives.
• Opened the Conti Vecchi saltworks in Assemini to the public in partnership with FAI.
• Implemented Smart Working for sick leave and new parents.

Governance Achievements

• Adopted Eni's Integrated Risk Management Model.
• Implemented a variable incentive plan for CEOs and top management that includes environmental sustainability and human capital development objectives.
• Completed the transition of the HSEQ Integrated Management System to the 2015 editions of environmental and quality standards.

Climate Goals & Targets

Environmental Challenges

• Obtaining preliminary authorization for reclamation.
• Relations with stakeholders.
• Evolution of HSE legislation.
• Critical nature of waste management.
• Unexpected discovery of contaminants.
• Inadequacy of the supplier base.

Mitigation Strategies

• Proactive dialogue with authorities through technical tables and service conferences.
• Constant constructive dialogue at a local level (e.g., NOI Ponticelle project).
• Implementation of the Integrated Risk Management Model.
• Supplier audits.
• Development of in-situ reclamation techniques to minimize waste generation.
• Implementation of guidelines to standardize the construction and management of waste depots.

Supply Chain Management

Supplier Audits: Audit plan implemented for environmental suppliers (carriers, waste treatment plants, landfills).

Responsible Procurement

• Verification of HSE aspects and technical capacity of suppliers.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Brownfield projects for renewable energy plants.

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 14001, ISO 9001, OHSAS 18001

Third-party Assurance: Limited auditing by appointed independent company

UN Sustainable Development Goals

• Goal 6 (Clean Water and Sanitation)
• Goal 7 (Affordable and Clean Energy)
• Goal 9 (Industry, Innovation, and Infrastructure)
• Goal 11 (Sustainable Cities and Communities)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)

Syndial's activities contribute to these goals through water treatment and reuse, renewable energy projects, sustainable reclamation, and waste management.

Sustainable Products & Innovation

• Waste-to-Fuel technology
• Blue Water technology

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• environment
• social
• people
• human rights
• anti-corruption
• climate change
• energy transition
• local development
• circular economy

Environmental Achievements

• -27% of GHG emission intensity index (upstream) vs. 2014
• -29% volumes of hydrocarbons sent to process flaring vs. 2014
• -81% upstream fugitive methane emissions vs. 2014 (TARGET REACHED)
• Formalisation of Eni's commitment not to carry out exploration and development activities in UNESCO World Heritage Natural Sites
• Extension of biodiversity risk mapping to all business lines
• Eni's adhesion to the CEO Water Mandate
• 89% reuse of freshwater
• -12% seawater withdrawn vs. 2018
• -15% waste from production activities generated vs. 2018
• -61% operational oil spills vs. 2018
• Start-up of the Gela biorefinery

Social Achievements

• +3.2 percentage point increase in women hired (32.3% in 2019 vs. 29.1% in 2018)
• Approx. 1.4 million hours of training (+16.5% vs. 2018)
• €95.3 million invested in local development
• Partnership signed with UNIDO to contribute to SDG 9
• MoUs signed with Angola and Mozambique that combine traditional business with a commitment to diversified and sustainable growth

Governance Achievements

• First “Eni for Human Rights” report published
• Ranked in the top 4% of the 200 companies evaluated by the CHRB
• “CEO Guide to Human Rights” of the WBCSD signed
• 97% security contracts with Human Rights clauses
• 100% new suppliers assessed according to social criteria
• Membership in EITI since 2005
• 9 countries where Eni supports EITI’s local Multi-Stakeholder Group
• 27 audits with anti-corruption checks

Climate Goals & Targets

Environmental Challenges

• Unfavorable trading environment affecting the industry from 2014
• Slowdown in global macroeconomic cycle
• Reduction in international trade
• Adverse geopolitical developments
• Oil and gas oversupply in the upstream
• Competitive pressure from producers with lower cost structure
• Overcapacity in the refining and chemical sector
• Structural weaknesses of the wholesale gas scenario
• Refining business and chemical commodities due to oversupply issues and unabated competitive pressures
• Risk of unfavourable fluctuations in Brent and other commodities prices compared to planning assumptions
• Impact of geopolitical issues on strategic actions and business operations
• Adverse scenario on exposure to long-term gas contracts
• Relationships with international, national and local stakeholders on oil&gas industry activities, with impacts also in the media
• Potential deteriorating legislative/regulatory, national and international environment in the Gas & Power segment with impacts to corporate profitability
• Potential impacts on business operations and competitiveness as result of evolution and complexity of HSE legislation
• Cyber Security & Industrial espionage
• Environmental, health and safety proceedings
• Involvement in anti-corruption investigations and proceedings
• Strong competition worldwide, both within the oil industry and with other industries, to supply energy and petroleum products to the industrial, commercial and residential energy markets
• Rising public concern related to climate change
• Risks of technological breakthrough in the energy field and risks of unpredictable extreme meteorological events linked to the climate change
• Exploring for finding hydrocarbons reserves may be unsuccessful
• Development projects bear significant operational risks which may adversely affect actual returns
• Inability to replace oil and natural gas reserves

Mitigation Strategies

• Successful exploration maximizing value by applying our Dual Exploration Model
• Constant reduction in the time-to-market of reserves
• Strengthened business portfolio by diversifying geographical presence
• Restructured the gas and refining businesses through efficiency and optimization actions
• Halved cash neutrality
• Accelerated decarbonization path by reducing emission intensity
• Development of power generation from renewable business
• Bio-reconversion of refineries
• Launch of green chemistry and circular economy projects
• Forestry initiatives
• Dual Flag approach
• Renegotiated long-term contracts portfolio aligning it with market conditions
• Optimized logistics
• Selective acquisition of new customers
• Credit control
• Greater efficiency of the organizational and commercial structure
• Development of innovative extra-commodity services
• Acquisition of Evolvere
• Proprietary technologies
• Market opportunities deriving from the energy transition
• Selective growth
• Conversion of Venice and Gela refineries into modern bio-refineries
• Acquisition of a 20% stake in ADNOC Refining
• Capex for the upgrading of service stations
• Improvement of customer services
• Efficiency and development of the non-oil segment
• Progressive reduction of commodity businesses
• Enhancement of the specialties segment
• Green and recycled chemical
• Widespread energy efficiency actions
• Development of the renewable energies business
• Launch of circular economy projects
• Enter in forestry conservation initiatives
• Progressive reduction of hydrocarbons production, with rising proportion of gas to oil
• Focus on gas equity marketing combined with projects for the capture and storage of CO2 and the progressive reduction of non-equity gas sales
• Conversion of European refineries into plants for the production of hydrogen and for the recycling of waste materials
• Primary and secondary forest conservation projects
• Projects to capture CO2
• Renewables installed capacity
• Growth of retail clients
• Continuous improvement of energy efficiency in operations
• Increase the share of gas production on total hydrocarbons
• Development of renewable sources production capacity
• Transformation into circular economy of downstream businesses
• Ramp-up of forestry initiatives
• Renegotiations of long-term gas supply contracts
• Continuous control of arbitration management
• Integration of targets and sustainability projects within the Strategic Plan and management incentive program
• Focused communication plans, development of dialogue initiatives and discussion with local areas
• Initiatives to meet and dialogue with stakeholders and strengthening of presence in critical areas
• Development of measurement instruments, monitoring and prediction of corporate reputation
• Asset Backed Trading (ABT)
• Control of legislative and regulatory evolution
• Recovery/optimization actions on logistical costs
• Constant assessment of the adequacy of the existing HSE models
• Continuous alignment of HSE models to regulatory developments
• Constant assessment of the adequacy of the regulatory framework
• Centralized governance model of Cyber Security
• Strengthening of Cyber Security Operations infrastructures and services
• Constant updating and alignment of the rules dedicated to the information security management and data protection
• Operating plans aimed at increasing security of industrial sites
• Training and awareness initiatives dedicated to Eni's employees
• Enhancement of the process of assigning and managing assignments to external professionals
• Continuous monitoring of regulatory developments
• Constant evaluation of the adequacy of existing presidium and control models
• Internal training activities at all levels
• Monitoring of relations with the Public Administration
• Continuous monitoring of the efficacy and efficiency of reclamation activities
• Audit activities on compliance with anti-corruption regulations and 231 Legislative Decree
• Continuous focus on technological innovation
• Achievement of efficiencies in operating costs
• Effective management of capital resources
• Ability to provide valuable services to energy buyers
• Ability to gain access to new investment opportunities
• Geographical diversification of asset portfolio
• Reduction of exposure through the Dual Exploration Model
• Keeping efficient and long-lasting relationships with producing Countries and local stakeholders
• Implementation of the security management system
• Finalization of specific agreements on repayment plans of third parties receivables
• Securitization package with in-kind withdrawals and/or utilization of dedicated escrow account
• Carry agreement negotiations and offsetting with the NOC’s through debt positions in the Country
• Use of the Well Complexity & Economic Index classification methodology
• Real-time monitoring of the drilling phases of complex wells
• Use of standard methodologies for simplified quantitative assessment
• Development of innovative digital tools and big data analytics
• Specific technological development and emergency management plans
• Involvement of First Parties
• Management and continuous monitoring of shipping operation
• Efficiency (capex and costs)
• Upstream projects portfolio with a low break-even price and reduced time-to-market
• Hedging/coverage strategy for gas, power and LNG exposures
• Ramp-up of green refineries, diversification of feedstocks and end markets
• Chemical portfolio diversification
• Institutional activities with national and international players
• Continuous monitoring of the environment
• Enhancement of Eni’s presence
• Participation in the newly established Eastern Mediterranean Gas Forum
• Renegotiations of long-term gas supply contracts
• Continuous control of arbitration management
• Integration of targets and sustainability projects within the Strategic Plan and management incentive program
• Focused communication plans, development of dialogue initiatives and discussion with local areas
• Initiatives to meet and dialogue with stakeholders and strengthening of presence in critical areas
• Development of measurement instruments, monitoring and prediction of corporate reputation
• Asset Backed Trading (ABT)
• Control of legislative and regulatory evolution
• Recovery/optimization actions on logistical costs
• Constant assessment of the adequacy of the existing HSE models
• Continuous alignment of HSE models to regulatory developments
• Constant assessment of the adequacy of the regulatory framework
• Centralized governance model of Cyber Security
• Strengthening of Cyber Security Operations infrastructures and services
• Constant updating and alignment of the rules dedicated to the information security management and data protection
• Operating plans aimed at increasing security of industrial sites
• Training and awareness initiatives dedicated to Eni's employees
• Enhancement of the process of assigning and managing assignments to external professionals
• Continuous monitoring of regulatory developments
• Constant evaluation of the adequacy of existing presidium and control models
• Internal training activities at all levels
• Monitoring of relations with the Public Administration
• Continuous monitoring of the efficacy and efficiency of reclamation activities
• Audit activities on compliance with anti-corruption regulations and 231 Legislative Decree
• Careful design and building of facilities
• Managing operations in a safe and reliable manner
• Compliance with all applicable rules and regulations
• Worldwide third-party liability insurance coverage
• Development of a rigorous methodology for the comprehensive measurement of GHG emissions
• Progressive reduction of hydrocarbons production, with rising proportion of gas to oil
• Focus on gas equity marketing combined with projects for the capture and storage of CO2 and the progressive reduction of non-equity gas sales
• Conversion of European refineries into plants for the production of hydrogen and for the recycling of waste materials
• Primary and secondary forest conservation projects
• Projects to capture CO2
• Renewables installed capacity
• Growth of retail clients
• High incidence of conventional projects, developed through phases and with low CO2 intensity
• Oil & Gas projects under execution with a price breakeven of around 23 $/barrel
• Liquidity reserve consisting of very liquid sovereign bonds and corporate securities
• Undrawn uncommitted borrowing facilities
• Undrawn long-term committed borrowing facilities
• Revised capital plans and updated commodities scenario for 2020 and 2021
• Reduction of capital expenditures
• Reduction of opex
• Suspension of the share repurchase program

Supply Chain Management

Supplier Audits: 100% new suppliers assessed according to social criteria

Responsible Procurement

• Human Rights clauses in upstream joint venture contracts
• Green Sourcing Project

Climate-Related Risks & Opportunities

Physical Risks

• Extreme and unpredictable weather phenomena

Transition Risks

• Growing worldwide public concern over greenhouse gas emissions and climate change
• Increasingly stricter regulations in this area
• Gradual reduction in the use of fossil fuels
• Carbon pricing schemes
• Technological breakthrough in the field of renewable energies
• Mass-adoption of electric vehicles
• Reputational risk

Opportunities

• Development of renewable energies business
• Bio-reconversion of refineries
• Launch of green chemistry and circular economy projects
• Forestry initiatives

Reporting Standards

Frameworks Used: GRI Standards, IIRC

UN Sustainable Development Goals

• All 17 UN SDGs

The new mission represents more explicitly the Eni’s path to face the global challenges, contributing to achieve the SDGs determined by the UN in order to clearly address the actions to be implemented by all the involved players.

Sustainable Products & Innovation

• Versalis Revive® products
• EcofiningTM technology

Environmental Metrics

ESG Focus Areas

• Climate Change
• Energy Transition
• Decarbonization
• Sustainability
• Innovation

Environmental Achievements

• Record annual decline in energy-related CO2 emissions in 2020 (largest since WWII)
• Increased renewable energy sector expansion with record addition of 200 gigawatt hours in 2020
• Commitment to achieve carbon neutrality by 2050
• 40 percent less paper used in magazine production

Social Achievements

• Commitment to promoting social and economic development in all activities
• Demonstrated strength and flexibility during the most difficult year in the history of the industry
• Launched new website WorldEnergyNext.com
• Added three women experts to the Editorial Committee

Governance Achievements

• Announced strategic plan for 2021-2024 with commitment to full decarbonization of all products and processes by 2050
• Relauched WE magazine with a more sustainable format

Climate Goals & Targets

Environmental Challenges

• Global economic downturn impacting long-term investment in decarbonization
• Short-term concerns of voters affecting long-term climate policy
• Covid-19 pandemic delaying the urgency of climate change action
• High costs of green stimulus for lower and middle-income countries
• Fragile energy and commodity distribution system
• Risk of industrial relocations to countries with laxer environmental policies
• Insufficient green finance effort
• Lack of international cooperation on carbon removal initiatives
• Need to manage the consequences of the energy transition for fossil fuel producing countries
• Competition for raw materials needed for low-carbon technologies
• Geopolitical tensions between the US and China
• Gap between national policies and the goals of the Paris Agreement
• Technological challenges in ensuring a stable energy mix with intermittent renewables
• Need to support the electrification of Africa through renewables
• Insufficient adaptation measures to climate change
• Lack of funding for climate damage in developing countries
• High risk premiums for green investments in developing countries
• Continued support for carbon-intensive sectors in some countries
• Potential trade disputes over carbon border adjustment mechanisms
• Need to manage the geopolitical repercussions of the European Green Deal
• Need to balance sustainability objectives with industrial competitiveness
• Need to address the social and economic costs of the energy transition
• Need for a comprehensive multilateral policy framework for the energy transition
• Need for government policy to align short-, medium- and long-term interests
• Need for more investment in the efficiency of fossil fuels
• Need for more investment in difficult-to-decarbonize sectors
• Need for an orderly and slower energy transition
• Need for a global level playing field for carbon pricing
• Need for international cooperation to support developing economies
• Need to address regional disparities in capacity to address climate change
• Need to address the lock-in to polluting energy sources
• Need to address the social and economic costs of the energy transition
• Need to address the risks of stranded assets if the economy bounces back on fossil fuels
• Need to address the low prices of fossil fuels
• Need to address the inadequacy of 2030 targets
• Need to address the lack of ambitious action and further lock-in to fossil fuels
• Need to address the lack of coordination on key issues such as the imposition of a carbon tax
• Need to address the potential for a carbon trade war between the EU and the US
• Need to address the competition with China for raw materials and technologies
• Need to address the geopolitical implications of the energy transition
• Need to address the challenges of energy system integration
• Need to address the challenges of industry and agriculture decarbonization
• Need to address the challenges of energy efficiency
• Need to address the challenges of social, economic and political cohesion
• Need to address the challenges of regional disparities in energy transition
• Need to address the challenges of job creation in the energy transition
• Need to address the challenges of value chain resilience
• Need to address the challenges of competition from China and the US
• Need to address the challenges of global climate governance
• Need to address the challenges of energy poverty
• Need to address the challenges of methane emissions
• Need to address the challenges of offshore renewable energy
• Need to address the challenges of battery sustainability
• Need to address the challenges of insufficient budgetary playing field
• Need to address the challenges of soaring public debt levels
• Need to address the challenges of social difficulties
• Need to address the challenges of late attainment of goals
• Need to address the challenges of insufficient and uneven spending
• Need to address the challenges of lack of information about the plans of MS
• Need to address the challenges of lack of eagerness to take loans
• Need to address the challenges of insufficient and uneven spending
• Need to address the challenges of lack of information about the plans of MS
• Need to address the challenges of lack of eagerness to take loans
• Need to address the challenges of insufficient and uneven spending
• Need to address the challenges of lack of information about the plans of MS
• Need to address the challenges of lack of eagerness to take loans

Mitigation Strategies

• Investing in clean energy technologies and climate-friendly recovery
• Mobilizing private investment through public financing mechanisms
• Developing alternative sourcing strategies
• Relocating manufacturing and chemicals
• Investing in clean energy technologies
• Improving energy efficiency
• Developing clean technologies
• Promoting international synergies and economies of scale
• Developing carbon removal initiatives
• Promoting afforestation and reforestation
• Containing the permafrost thaw
• Restoring grassland
• Reducing forests
• Increasing large animal herds grazing
• Introducing carbon border adjustment measures
• Investing in renewable energy
• Improving regulation efficiency
• Creating a grand coalition between government and business
• Diversifying supply chains
• Creating a strong convergence on climate policy with the US
• Defining global standards for the energy transition
• Building a transatlantic alliance on energy
• Investing in the efficiency of fossil fuels
• Investing in cleaner energy solutions
• Supporting oil and gas companies in their decarbonization efforts
• Developing a comprehensive multilateral policy framework
• Aligning short-, medium- and long-term social interests with market ones
• Increasing investments in existing fossil fuels
• Making the energy transition more practical
• Developing a UK-wide emissions trading system
• Considering carbon border adjustment mechanisms
• Developing a global CBAM
• Implementing a domestic target of Net Zero Emissions by 2050
• Launching a 10-point plan for a Green Industrial Revolution
• Rejoining the Paris Climate Accord
• Halting operations of the Keystone XL pipeline
• Imposing new limits on existing and future oil and gas production
• Prescribing climate-friendly operating procedures for federal agencies
• Investing in innovative and cleaner energy technologies
• Making the US auto industry less polluting
• Modernizing the nation’s federal infrastructure
• Creating a National Council on Workforce Development
• Establishing a National Climate Task Force
• Advancing sustainable agriculture and conservation
• Securing environmental justice and fostering equitable economic opportunities
• Creating a system of innovative job creation and business development
• Directing investments toward places that need them
• Creating decent jobs that pay a wage that can support American families
• Cooperating with Europe, Africa, and international financial institutions in Asia
• Providing places like Africa, Southeast Asia, and the Middle East with the possibility to incorporate more renewables into their energy mix
• Helping create a system that is going to build out clean and sustainable energy
• Addressing bottlenecks in transmission and grid systems
• Applying the broader approach of the Sustainable Development Goals (SDGs)
• Expanding carbon capture technologies
• Funding scientific innovation
• Exploiting hydrogen technologies for decarbonization
• Mobilizing over 300 billion euros in grants
• Investing in low-carbon technologies
• Mobilizing finance for investments
• Redistributing costs and benefits among states, regions, sectors and citizens
• Laying out financial and regulatory support for the right technologies and sectors
• Triggering the right level of investments in low-carbon technologies
• Ensuring that finance can be mobilized for investments
• Optimizing overall system costs
• Developing industrial policies for low carbon solutions and technologies
• Mobilizing for battery cells with the European Battery Alliance
• Focusing on recycling and mining
• Focusing on electrolyzers
• Strengthening Horizon Europe and the Modernization Fund
• Reforming the stability pact
• Combining the digital transformation with the energy transition
• Scaling up hydrogen, digital buildings, high efficiency cooling systems, small modular nuclear reactors, new solar cells, batteries, European mining, refining and battery recycling ventures and offshore wind systems
• Improving the energy performance of buildings
• Reducing energy and resource consumption in buildings
• Improving the quality of life for people living in and using buildings
• Reducing greenhouse gas emissions
• Fostering digitization
• Improving the reuse and recycling of materials
• Cutting methane emissions
• Increasing Europe’s offshore wind capacity
• Supplementing capacity with ocean energy and other emerging technologies
• Creating new opportunities for industry
• Generating green jobs
• Strengthening the EU’s global leadership in offshore energy technologies
• Protecting the environment, biodiversity and fisheries
• Promoting competitive sustainability
• Producing batteries with the lowest possible environmental impact
• Using materials obtained in full respect of human rights and social and ecological standards
• Repurposing, remanufacturing or recycling batteries
• Improving the collection and recycling of portable batteries
• Recycling all collected batteries
• Obtaining high levels of recovery of valuable materials
• Launching the European Climate Pact
• Inviting people, communities and organizations to participate in climate action
• Building a greener Europe
• Connecting people and sharing knowledge
• Developing and implementing climate solutions
• Becoming part of a growing European movement

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• environment
• social
• people
• human rights
• anti-corruption
• climate change
• energy security
• affordability
• decarbonization
• circular economy
• local content
• gender equality
• diversity

Environmental Achievements

• Significant reduction in the carbon footprint of our asset portfolio, thanks to an ever-growing pipeline of renewable and biofuel projects
• Reduced Net GHG Lifecycle Emissions (Scope 1+2+3) by 11% vs. 2021
• Reduced Net Carbon Footprint Eni (Scope 1+2) by 11% vs. 2021
• Reduced Net Carbon Intensity (Scope 1+2+3) by 0.4% vs. 2021
• 90% reuse of fresh water
• Volumes of hydrocarbon sent to routine flaring (upstream) reduced by 9% compared to 2021
• Phased-out palm oil as feedstock for Eni’s biorefineries from October 2022
• Delivered the first cargoes of vegetable oil produced from Kenya to the Eni’s biorefinery in Gela

Social Achievements

• Launched agricultural business in Kenya
• Signed several agreements in the field of sustainability and innovation, relying on our strong partnerships with host countries and our accelerated development model, to promote the process of energy transition and decarbonization of our activities
• 79% Eni climate analysis participation rate
• 120,000 people accessing to health services
• €76.4 mln local development investment
• 30 agreements signed for social-economic development and health initiatives
• Implemented 75 Local Development Projects in the countries where we operate with an overall commitment of €326 million (Eni’s share) in the four-year period 2023-2026, improving living conditions for 932 thousand beneficiaries through energy access initiatives, education, water, economic diversification and health.

Governance Achievements

• Adoption in 2020 of a Sustainability-Linked Framework, the Company intends to cover 25% of total gross debt with financial instruments indexed to sustainability targets by 2025
• Successfully finalized the placement of its first sustainability-linked bond among the retail public in Italy for a total amount of €2 billion
• Confirmed or improved its excellent ranking in the main ESG ratings of the financial markets: MSCI ESG, Sustainalytics ESG Risk Rating, ISS ESG, Bloomberg New Energy Finance Oil & Gas Transition Score, Moody’s ESG Communications, CDP Climate Change, Transition Pathway Initiative
• Confirmed for the sixteenth consecutive year in the FTSE4Good Developed specialized stock market index
• Included in the MIB® ESG index of Borsa Italiana
• Included for the second consecutive year in the Bloomberg Gender Equality Index 2023 and in the Top 100 of the Equileap Gender Equality Ranking

Climate Goals & Targets

Environmental Challenges

• Russia’s military invasion of Ukraine has dramatically highlighted the need of our society for secure and affordable energy
• Extreme market volatility
• Significant financial risks arisen in connection with the war in Ukraine
• Supply chain disruptions
• Competitive pressures in the commodity segments

Mitigation Strategies

• Signed several agreements with our long-standing partners to diversify gas supplies to Italy and Europe with a view to fully replacing about 20 billion cubic meters of Russian supplies by 2025
• Strengthened our liquidity reserves
• Restructured hedging activities to reduce the risk of outsized margin calls
• Rescheduled sale commitments to account possible interruptions in Russian gas flows
• Implementing a transformation of the business towards a more sustainable and competitive portfolio of products
• Strengthening its partnership with Novamont to develop green chemicals

Supply Chain Management

Supplier Audits: >10,000 companies participating at Open-es

Responsible Procurement

• Code of conduct
• Supplier sustainability requirements
• Basket bond - Sustainable Energy program

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Development of renewable energy sources

Reporting Standards

Frameworks Used: GRI Standards, TCFD recommendations, World Economic Forum (WEF) Core metrics

Third-party Assurance: limited assurance

UN Sustainable Development Goals

• 1
• 2
• 3
• 4
• 5
• 6
• 7
• 8
• 9
• 10
• 11
• 12
• 13
• 14
• 15
• 16
• 17

Eni’s business model is aimed at creating long-term value for all stakeholders through a strong presence along the entire energy value chain. The core is represented by our mission, inspired by the United Nations 2030 Agenda, whose foundations are embodied in our distinctive approach, which permeates all activities.

Sustainable Products & Innovation

• Advanced biofuels
• Biomethane
• Biojet
• Sustainable Aviation Fuels (SAF)
• HVO Diesel
• Green chemicals
• Recycled polymer compounds
• Sustainable bioethanol

Environmental Metrics

ESG Focus Areas

• Carbon neutrality
• Operational excellence
• Alliances for development
• Human rights
• Diversity & Inclusion
• Responsible supply chain

Environmental Achievements

• Reduced Net Carbon Footprint upstream by about 10% compared to 2022
• Reduced Net Carbon Footprint Eni by about 13% compared to 2022
• Reduced Net GHG Lifecycle Emissions by about 5% compared to 2022
• Reduced Upstream routine flaring volumes by around 8% compared to 2022
• Improved Upstream methane fugitive emissions (decreased by about -30 ktCO2eq. compared with 2022)
• Significantly reduced Upstream methane emission intensity (-21%) compared to 2022
• Plenitude reached an installed renewable capacity of 3.1 GW (+35% compared to 2022)
• Increased biorefining capacity through the acquisition of a 50% stake in the Chalmette biorefinery in the US
• Increased production of biofuels (+48% compared to 2022)

Social Achievements

• Increased overall percentage of women in the management bodies and supervisory bodies of subsidiaries compared to 2022 (28% and 43%)
• Implemented Variable Incentive Plans for the CEO and Eni management that include targets concerning renewable energy capacity, GHG emissions reduction, and personnel safety
• Launched supplier diversity programme “Inclusion Development Partnership”
• Improved absenteeism rate for both men and women compared to 2022

Governance Achievements

• More than 44% of the members of the BoD and 40% of the BoSA (including its Chair) are women
• Number of independent Directors on the BoD exceeds the number required by law
• Provided training programmes (“Board Induction”) to support the BoD and the BoSA
• Implemented anti-corruption checks in 30 audits carried out in 16 countries

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic impact
• Fluctuation of demand, offer and pricing of oil and natural gas
• General macroeconomic conditions
• Geopolitical factors
• Changes in the economic and regulatory framework
• Supply chain disruptions

Mitigation Strategies

• Optimization and efficiency measures in operational management
• Decreased emissions related to the Power, GGP, Upstream, and Chemicals businesses
• Use of high-quality carbon credits
• LDAR (Leak Detection And Repair) campaigns
• Monitoring campaigns in line with the requirements of the Oil & Gas Methane Partnership 2.0
• Implementation of energy efficiency interventions

Supply Chain Management

Supplier Audits: 6,471 suppliers subject to checks and assessments

Responsible Procurement

• Environmental and social sustainability assessments
• Termination of relations with suppliers due to negative assessment

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of renewable energy and low-carbon technologies

Reporting Standards

Frameworks Used: GRI Standards (Universal and Oil & Gas Sector Standards), UN Global Compact, TCFD, Climate Action 100+, WEF Core Metrics, SASB Exploration & Production, EU Sustainable Finance Disclosure Regulation (SFDR), Women’s Empowerment Principles (WEPs)

Certifications: ISO 45001, ISO 14001, EMAS, ISO 50001, ISO 9001

Third-party Assurance: PwC

UN Sustainable Development Goals

• Goal 7 (Affordable and clean energy)
• Goal 8 (Decent work and economic growth)
• Goal 9 (Industry, innovation and infrastructure)
• Goal 13 (Climate action)
• Goal 6 (Clean water and sanitation)

Eni's initiatives contribute to these goals through decarbonization efforts, investments in renewable energy, local development projects, and responsible resource management

Sustainable Products & Innovation

• Biofuels
• Renewable energy
• Bio-based products
• Sustainable chemicals

Awards & Recognition

• UNEP’s “Gold Standard” OGMP 2.0 reporting level
• Value Chain Data Award 2023