"For every euro invested by Eni in fossil fuels, less than seven cents were invested in sustainable renewable energy."
Greenpeace Italia, ReCommon and Reclaim Finance wrote this in a press release in an analysis of Eni's climate strategy.
"For every euro invested in the activities of Plenitude, the low carbon division of the group, Eni invests more than 15 euros in oil and gas - the NGOs write -. Since Plenitude also includes gas marketing and retail sales activities, for every euro invested by Eni in fossil fuels, less than seven cents have been invested in sustainable renewable energy."
"Eni intends to continue to focus mainly on gas and oil, and at this rate it has no chance of reaching the objective of zero net emissions by 2050, as it promised in 2020 - the NGOs write -. According to the information made available by Eni "With the current level of oil and gas production and the future development of its fields, production in 2030 will be 35% above the level required to align with this objective."
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