GlobalData offers a comprehensive analysis of Snam, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Snam‘s ESG performance. GlobalData’s company profile on Snam offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Snam, a leading energy infrastructure company, has set target for net zero by 2040.
Added- Snam has outlined its commitment to reducing greenhouse gas (GHG) Scope 1 and Scope 2 emissions, aiming for a 28% reduction by 2025, 40% by 2027, and 50% by 2030, all relative to the baseline year of 2018. The company has also established specific targets for natural gas emissions, targeting a 55% reduction by 2025 and a 65% reduction by 2030 compared to 2015 levels. Notably, these targets surpass the benchmarks set by both the OGMP 2.0 (-45% by 2025 vs. 2015) and the Global Methane Pledge (-30% by 2030 vs. 2020) concerning methane emissions. Additionally, Snam has established two Scope 3 GHG emission targets: a reduction of 46% by 2030 compared to 2019 for emissions from associate companies and other minor categories, and a 55% reduction by 2030 compared to 2019 concerning the emission intensity of the supply chain. In 2022, there was a reduction of 8.1% compared to the emissions in 2018 for CO2 equivalent emissions within Scope 1 and 2, as per the regulated perimeter. The company's Scope 1 emissions totaled 1,485 kt CO2eq, reflecting a 3% increase compared to the emissions in 2021, and Scope 2 emissions market-based and location-based of 33 and 39 kt CO2eq respectively. The Scope 3 emissions were reported at 1.34 million tonnes (+43% vs. 2021).
To achieve its net-zero targets and reduce emissions, Snam has taken several steps. The company has invested in the use of green electricity, with a percentage of green electricity consumed on the total electricity increasing over the years. Snam has also focused on reducing methane emissions, with specific data provided on different sources of methane emissions, such as vent, fugitive, and pneumatic emissions. The company has made investments in infrastructure for green gases like biomethane and hydrogen, as well as carbon capture and storage (CCS) technologies.
In conclusion, Snam is committed to achieving net-zero emissions and has set specific goals for scope 1, scope 2, and scope 3 emissions. The company has been making progress in reducing its carbon emissions, particularly in scope 1 and scope 2 emissions. Snam has taken steps to invest in green electricity, reduce methane emissions, and develop infrastructure for green gases and CCS technologies. These efforts demonstrate the company's commitment to fighting climate change and transitioning to a more sustainable energy future.
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