Snam raises its emission reduction target to 50%

Oil&Gas Materials 26 November 2020 11:16 (UTC +04:00)
Snam raises its emission reduction target to 50%

BAKU, Azerbaijan, Nov.26

By Leman Zeynalova – Trend:

Snam is committed to achieving carbon neutrality by 2040, in line with the 1.5° C containment target set by the Paris Agreement, thus further consolidating its ESG (Environmental, Social and Governance) leadership, Trend reports citing the company.

Furthermore, Snam raises its reduction target to 50 percent of Scope 1 and Scope 2 equivalent CO₂ emissions (direct and indirect) by 2030 (vs 2018), compared to the previous target of -40% vs 2016.

Almost half of the overall reduction in emissions will derive from the dual fuel compressor stations project, while the remaining share will be achieved thanks to the reduction of methane emissions by 45 percent by 2025 (vs 2015), in line with UNEP objectives (UN Environment Program), with which a protocol was signed.

“Snam’s commitment on indirect Scope 3 emissions (emissions outside the direct control of the company, in Snam’s case mainly attributable to suppliers and investee companies) is also significant. In this an area the company has strengthened collaboration initiatives with subsidiaries and started the development of additional joint projects with suppliers to achieve a progressive and significant reduction. The enabling of the infrastructure to transport increasing quantities of renewable gas and the new activities in the energy transition will also make it possible to contribute to the general reduction of emissions in the territories in which Snam operates: in 2024, Snam will allow the system to avoid emissions of over 600,000 tons of CO₂ equivalent, also thanks to the production of biomethane, energy efficiency initiatives and sustainable CNG and LNG mobility projects,” the company said.


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