Abstract

Recognizing the actual global energy transformation and related risks and opportunities, Saipem plans to gradually reduce its dependence on the fossil fuels business with a comprehensive strategy made up of 2 pillars:

1. Reducing the footprint of Saipem own assets and operations.

2. Supporting Clients in reducing their own footprint.

The Net Zero Program is the ongoing process to decarbonize Saipem’s assets and operations (in general, the EPCI phases of a project lifecycle, before handing over the plant in operation to a Client).

The Program is included in Saipem’s Sustainability Plan, and it involves a structured cross-functional workgroup.

The Plan sets challenging objectives, including for the Net Zero part:

- Reaching Net Zero in 2050 for Scope 1, 2 and 3 emissions

- Achieving Carbon Neutrality of Scope 2 emissions by 2025

- Reducing Scope 1 and 2 emissions by 50% by 2035 (vs 2018)

With the following actions:

- Implementation of energy management initiatives to avoid yearly GHGs emissions

- Participation in projects outside the value chain to partially compensate GHGs emissions

- Working with our suppliers for defining Scope 3 reduction targets and roadmaps

Utilization of biofuels on Saipem fleet

This last point is considered fundamental to achieve the targets and it is currently the object of cooperations with other companies and trials upon assets.

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