Strategy update: Eni Strategy Day 2020
Eni’s 2020 Strategy Day was momentous. The explicit acknowledgement that production will plateau in 2025 before winding down underscores that harvest mode is officially part of the corporate strategy. This is a stunning reversal for a company long infatuated with growing its production. Make no mistake: a ‘New Eni’ has been borne. A radical vision out to 2050 was laid out. Sharp reductions in greenhouse gas emissions – including Scope 3 – will underpin the strategy for decades. An eye-boggling 2050 renewable target was issued. This holistic decarbonisation plan has been in the making since 2014. Now the detailed roadmap on how Eni will get there has finally been delivered.