BOOSTING OUR TRANSFORMATION Eni strategic plan 2021-2024: towards zero emissions

STRATEGY HIGHLIGHTS

Leading Energy Transition. Decarbonization of operations and products to deliver a mix of entirely decarbonized products.
- Net Zero emissions at 2050, introducing new target for absolute emissions of -25% at 2030 vs 2018 and -65% at 2040;
- Net Zero Carbon Intensity by 2050: introducing new intermediate targets of -15% at 2030 instead of 2035. Reduction will reach -40% in 2040.
Leveraging Integration. Diversification and expansion of retail and renewables businesses, bio-products and circular economy.
Merge of retail and renewable businesses:
- accelerated growth of customer base to 15 million customers;
- growth of renewable installed capacity to 15GW by 2030;
- EBITDA will double in the plan to almost €1bln in 2024.
Financial Robustness to absorb price volatility. Selective growth, increased efficiency and right-sizing to ensure value and high returns in all activities.
- Reduction of group cash neutrality covering capex and dividend floor (0.36€/share) below $40/bbl over the four-year plan.
Stakeholder Value Creation. Enhanced remuneration policy:
- dividend floor set at €0.36 at $43/bbl vs the previous level of $45/bbl;
- €300mln/year buyback to re-start at $56/bbl. Confirmed buyback at €400mln/year from $61/bbl and €800mln/year from $66/bbl.

The full version of the Press Release is available in PDF format.

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BOOSTING OUR TRANSFORMATION Eni strategic plan 2021-2024: towards zero emissions

STRATEGY HIGHLIGHTS

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