Eni
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Eni
Eni is a global technology-driven energy company that supports a socially fair energy transition by creating long-term value. It is one of the world's supermajor oil companies, involved in various energy sectors.
Positive signals
Eni’s ESG performance and management of material risks are evaluated by S&P Global, which provides an ESG Score measuring the company’s performance on and management of material ESG risks, opportunities, and impacts.
Moody’s, a leading rating agency, certified Eni’s Sustainability-Linked Financing Framework as compliant with International Capital Market Association standards, providing external validation for the company’s green bond framework.
Eni has implemented a decarbonization strategy integrated into its business model, with dedicated short, medium, and long-term targets aimed at reducing the overall carbon footprint of energy products sold. The company claims compliance with the UN Guiding Principles on Business and Human Rights and conducts human rights due diligence through a multidisciplinary, multilevel, and integrated model.
Eni SpA is covered by leading ESG rating agencies, including Sustainalytics and S&P Global, which assess its exposure to industry-specific material ESG risks and its management of those risks, providing transparency and benchmarking for investors.
Concerns
Lawsuit for contribution to global warming
HIGH
Source →Bribery probe settlement related to FCPA violations
HIGH
Source →Eni’s Sustainability-Linked Bonds (SLBs), which raised €4.75 billion between June 2021 and 2024, have been criticized by Moody’s and the Climate Bond Initiative for weak climate commitments, reliance on carbon offsets and CCS projects, and for not aligning with the International Energy Agency and IPCC recommendations for immediate emission reductions to achieve the Paris Agreement’s 1.5°C target.
HIGH
Source →Eni’s green bond framework was criticized by the Climate Bond Initiative in its 2023 report for lacking ambitious reduction targets and for depending on offsets, CCS projects, and gas business expansion, which do not deliver the radical emissions reductions needed for climate alignment.
HIGH
Source →Moody’s, while certifying Eni’s Sustainability-Linked Financing Framework as compliant with ICMA standards, noted that Eni’s approach is at odds with IEA and IPCC recommendations, which call for immediate action to reduce all greenhouse gas emissions (Scopes 1, 2, and 3).
MEDIUM
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