Eni Outlines Support of Education, Youth Entrepreneurship in Egypt in Latest Sustainability Report

Eni Outlines Support of Education, Youth Entrepreneurship in Egypt in Latest Sustainability Report

In its 16th voluntary sustainability report “Eni for 2021 – A just transition”, Eni outlined its role in supporting Egyptian local and youth entrepreneurship, in addition to promoting education and professional training in Egypt as well as Angola, Iraq, Mexico, and Mozambique.

The report, which discusses the company’s contribution and objectives for a just transition, offers interesting insights into social and economic results in its journey to accomplish carbon neutrality by 2050.

In addition, it mentioned how Eni strengthened its partnerships with international development organizations. 

“As Eni, we strongly feel the responsibility to contribute to giving access to energy to all, supporting the development of the countries where we are present, and contributing to the achievement of the highest ambitions of the Paris Agreement. This commitment is stronger today, in light of the war in Ukraine, at a historical moment when it is necessary to be even more inclusive and not divisive, seeking the common good and increasing efforts to ensure Europe’s energy security, while accelerating the decarbonization process”, said Claudio Descalzi, Eni’s Chief Executive Officer.

In regards to the 2050 carbon neutrality strategy, Eni has further strengthened its objectives, announcing that it will reduce its emissions by 35% in scope 1, 2 and 3 by 2030, and 80% by 2040 compared to 2018 levels (compared to -25% and -66% in the previous plan). In terms of net scope 1 and 2 emissions, the company plans to achieve -40% reduction by 2025 (compared to 2018 levels) and net zero emissions by 2035, five years ahead of the previous plan. Additionally, it will increase the share of investments dedicated to new energy solutions to 30% by 2025, double to 60% by 2030, and reach 80% by 2040.

Increasing attention is being given to the concept of a “just transition”, which means managing the impact of the energy transition on people-both direct and indirect workers, as well as customers and communities.

The company continues to develop its business activities, which include the conversion of refineries into biorefineries, forest conservation projects, the development of renewable energy, and the creation of agri-hubs.

 

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