BAKU, Azerbaijan, February 12. In a bid to adhere to industry best practices, Snam, the leading energy infrastructure company based in Italy, has unveiled a comprehensive set of environmental goals aimed at slashing Scope 1-2-3 emissions, Trend reports.
These targets, to be achieved in absolute terms, are developed following the general methodology of the Science Based Targets initiative (SBTi), owing to the absence of specific guidelines tailored to its business.
Snam's commitment encompasses a rigorous reduction plan, with targets including a 25 percent cut in Scope 1 and 2 emissions by 2027, followed by reductions of 40 percent by 2030 and 50 percent by 2032. The company, leveraging 2022 as the baseline, is further dedicated to achieving carbon neutrality by 2040. This ambitious agenda builds upon Snam's strides in methane emissions reduction, surpassing both its previous targets set in 2021 and those recommended by the United Nations Environment Programme (UNEP).
Key to Snam's strategy is the prioritization of dual-fuel compression stations installation and the utilization of biomethane, sourced in part from its own plants, to drive towards these objectives. Moreover, the company is intensifying efforts to curb Scope 3 emissions, with commitments to reduce them by 30 percent and 35 percent respectively by 2030 and 2032, in absolute terms, covering the entirety of its reported perimeter. This aligns with the Paris Agreement goals.
Snam's associates are also engaged in decarbonization initiatives, mirroring the company's actions, while supplier engagement is fortified through the integration of Environmental, Social, and Governance (ESG) criteria in tenders. Snam is actively involved in data-gathering, education, and sharing of best practices to foster emission reduction across its supply chain.
In a significant leap forward, Snam has introduced a net-zero commitment across all emissions by 2050. Notably, the company now pledges to reduce 100 percent of its Scope 3 emissions in absolute terms, a departure from intensity targets previously set for the supply chain. These targets are designed to align with a 1.5-degree and Well Below 2 Degrees Celsius (WB2C) scenario, with expectations of full alignment with the 1.5-degree scenario once the Midstream-specific methodology is unveiled.
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