(Finance) – UNEPthe United Nations Environment Programme, confirmed a Snam the Gold Standard for the fourth consecutive year, after 2021, 2022 and 2023, giving it the maximum score, i.e. 9 out of 9, and recognizing the commitment undertaken by the Group in combating and reducing emissions. The communication was made official on the occasion of the presentation of theAnnual Report of the International Methane Emissions Observatory (IMEO) which took place in Baku during Cop29, the United Nations Conference on Climate Change. The recognition, provided for by the OGMP 2.0 (Oil and Gas Methane Partnership) protocol to which Snam voluntarily joined in 2020, also rewards the Company’s commitment to reporting activities and the reduction of methane emissions for 2024.
As also highlighted by first Transition Plan presented last October, Snam therefore confirms its commitment to achieving the carbon neutrality by 2040 (for Scope 1 and 2 emissions) and the Net Zero by 2050 for all emissions, including scope 3. In fact, actions to reduce methane emissions continue: Snam has already recorded a reduction of -57.5% in 2023 compared to 2015 and 21% compared to 2022, already working on the next objectives, i.e. -64.5% by 2027, -70% by 2030 and -72% by 2032. Today, annual methane emissions in the case of Snam (which include transport, storage and LNG) are equal to approximately 22 million cubic meters per year, for an overall impact of 0.03% on the total injected into the network. CO2 emissions have also already decreased, with a reduction of 10% compared to 2022, while a decrease of around 20% is expected for 2024.
The Group, with 50% of investments aligned with Sustainable Development Goals (SDGs) and 30% to the European Taxonomy, implements specific best practices to reduce natural gas emissions which, thanks to increasingly cutting-edge technologies, allow efficient management and reporting. The company’s commitment to achieving its decarbonization targets is broad and integrated at multiple business levels. In fact, Snam, together with the reduction of emissions, is also committed to achieving Zero Net Conversion as early as 2024 on nature and biodiversity and to generating a positive impact on nature by 2027, which involves complete restoration of vegetation and landscape ex ante combined with defined policies on land, water and waste management.