ASSESSMENT OF ENI’S CLIMATE STRATEGY

The report finds that Eni's strategy prioritizes oil and gas expansion and shareholder returns over renewable energy investments. Eni's projected 2030 production levels and LNG capacity expansions significantly overshoot NZE requirements, while its diversification into renewables remains marginal, representing only 5.8% of its projected 2030 energy mix.

• Eni's 2024 financial allocations heavily favored fossil fuels and shareholders over its low-carbon 'Plenitude' business. For every euro invested in Plenitude, the company invested 7.7 euros in oil and gas and distributed 5.1 euros to shareholders via dividends and share buybacks.
• Eni has reduced its planned capital expenditure for renewable energy for the 2025-2028 period to €1.4 billion per year, which is a 22% decrease from the €1.8 billion per year previously targeted for 2024-2027.
• Eni's 2030 oil and gas production is projected to be 55% higher than the level required for NZE alignment based on current producing fields and short-term expansion. If Eni pursues its target of 3-4% yearly increase in underlying production, it will overshoot the NZE by 89%. Even with an asset sale strategy to lower reported production, it will still be 78% above NZE alignment.
• Eni is expanding its LNG infrastructure, planning to add 7.5 Mtpa of liquefaction capacity by 2030 through projects in Congo, Mozambique, Nigeria, and Qatar. This would bring its total net liquefaction capacity to 15.3 Mtpa, exceeding NZE levels by 95.9%.
• The company's diversification strategy is described as marginal, with oil and gas extraction expected to represent 87.1% of its energy mix by 2030. Renewable energy is targeted at 15 GW of installed capacity by 2030, representing 5.8% of the energy mix, while bioenergy is projected at 3.6%.
• Eni continues to invest in unsustainable energy sources, including six gas power units under construction or announced (adding 0.9 GW of gross capacity) and the development of Sustainable Aviation Fuel (SAF).
• Eni's decarbonization plan relies significantly on Carbon Capture, Utilization and Storage (CCUS) and Nature-Based Solutions (NBS), which account for 17% of its planned absolute emissions reduction by 2030. The company aims to offset 15 Mtpa of CO2e through NBS and capture over 15 Mtpa of CO2.

APA

Delaporte, L.-M., Bogaert, A., & Tricarico, A. (2025). ASSESSMENT OF ENI’S CLIMATE STRATEGY. Reclaim Finance. https://reclaimfinance.org/site/wp-content/uploads/2025/05/202504_Eni_Climate-Strategy-Assessment.pdf

Chicago

Delaporte, Louis-Maxence, Achille Bogaert, and Antonio Tricarico. ASSESSMENT OF ENI’S CLIMATE STRATEGY. Reclaim Finance, 2025. https://reclaimfinance.org/site/wp-content/uploads/2025/05/202504_Eni_Climate-Strategy-Assessment.pdf.

Wikipedia

{{cite report |last1=Delaporte |first1=Louis-Maxence |last2=Bogaert |first2=Achille |last3=Tricarico |first3=Antonio |title=ASSESSMENT OF ENI’S CLIMATE STRATEGY |publisher=Reclaim Finance |date=April 2025 |url=https://reclaimfinance.org/site/wp-content/uploads/2025/05/202504_Eni_Climate-Strategy-Assessment.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{delaporte2025assessment, author = {Delaporte, Louis-Maxence and Bogaert, Achille and Tricarico, Antonio}, title = {{ASSESSMENT OF ENI’S CLIMATE STRATEGY}}, institution = {Reclaim Finance}, year = {2025}, month = apr, url = {https://reclaimfinance.org/site/wp-content/uploads/2025/05/202504_Eni_Climate-Strategy-Assessment.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }