Eni has announced its participation in the Oil and Gas Decarbonization Accelerator, a platform launched by the Presidency of COP28.

The initiative sets three main objectives for its members: to achieve net zero emissions in Scopes 1 and 2 by or before 2050, to achieve near-zero methane emissions in the upstream sector by 2030, and to achieve zero gas routine flaring by 2030.

Membership also implies a commitment to periodically monitor and publish the results achieved, which will be verified by an independent party in accordance with internationally recognized frameworks.

Eni’s CEO Claudio Descalzi expressed his belief that this initiative is one of the most relevant commitments of COP28. Eni has been actively supporting it since its conception and believes that its goals are set with realism and pragmatism, making the path towards decarbonization concrete and feasible, he added.

The company aims to achieve net zero Scope 1 and 2 emissions in the upstream sector by 2030 and net zero Scope 1 and 2 emissions for the entire group by 2035. Eni has also included a path to abate Scope 3 emissions in its strategy from the outset and plans to achieve net zero Scope 1, 2, and 3 emissions by 2050.