NAOC Parent Company Among 10 Top Performer Companies Worldwide for Sustainability Reporting

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By Ikenna Omeje

Nigerian Agip Oil Company’s (NAOC) parent company, Eni, has been included, for the third year in a row, in the top 10 of the best performing companies for its sustainability reporting.

This is according to the World Business Council for Sustainable Development’s (WBCSD) analysis that assessed 168 leading global companies, a release by Eni said on Tuesday.

“We are proud of this result, which confirms the solidity of our strategy. We have shaped a plan that is concrete, detailed, economically sustainable and technologically proven, committing to reach net zero emissions by 2050. Our aims are clear, as stated in our own mission. We want to play a leading role in the transition ahead, fighting to protect the environment while ensuring access to energy to all, and this recognition encourages our strengths on this path”, the release quoted Claudio Descalzi, Eni’s Chief Executive Officer as saying.

Eni has been recognized as an example of good practice for explicitly aligning its strategic approach to sustainability with is mission and the outcomes of the materiality assessment in its Eni for 2020 report. Its Strategy has a central focus on the goal of being carbon neutral by 2050 alongside plans for additional material topics. The elements positively evaluated also include the robustness of Eni’s roadmap for all material topics throughout the report, and the complete overview of 2020 progress alongside short-, medium- and long-term targets for the path forward for each topic.

Eni for 2020, the company’s latest sustainability report released in May 2021, illustrates the most recent results on the decarbonisation path. By 2050, Eni aims to reach the full carbon neutrality of all its products and operations. The commitment to accelerate the energy transition is reflected also in the 2020-2022 Long-Term Equity Incentive Plan, which provides targets directly linked to the company’s objectives of decarbonisation, energy transition and circular economy. To further support its aims, Eni has introduced in the new remuneration policy also a target linked to the renewables installed capacity, which substitutes the indicator on the exploration resources.

WBCSD is the premier global, CEO-led organization of over 200 of the world’s leading sustainable businesses collectively to accelerate the system transformations needed for a net zero, nature positive, and more equitable future. Its member companies come from all business sectors and all major economies, representing a combined revenue of more than USD $8.5 trillion and 19 million employees.

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