ENI is an Italian multinational oil and gas company headquartered in Rome. Considered one of the seven ‘supermajor’ oil companies in the world, it has operations in 66 countries with a market capitalization of US$36.08 billion, as of 31 December 2020.
The Government of Rwanda has put environment and climate change at the center of the country’s policies and plans. Under the country’s Vision 2050, Rwanda has a bold vision to become a carbon-neutral and climate resilient economy by the middle of the century.
In May 2020, Rwanda was the first African country to submit its revised climate action plan (NDC). In the plan, Rwanda has an ambitious target to reduce greenhouse gas emissions by 38% by 2030 compared to business as usual, equivalent to an estimated mitigation of up to 4.6 million tonnes of carbon dioxide equivalent (tCO2e) through engagement with partners, both nationally and internationally, to attract sustainable green investment..
The country’s efforts to limit its contribution to climate change and adapt to the consequences of a warming planet over the next decade is estimated at US $11 billion, made up of 5.7 billion dollars for mitigation and 5.3 billion dollars for adaptation.
To ensure the country remains well coordinated in financing these goals, the Rwanda Green Fund (FONERWA) was created. Since its inception, the Fund has raised US $217 million for green investments across the country.
Rwanda was one of the few first countries to ban plastic bags in 2008 and single use plastics in 2019. Rwanda’s efforts to manage existing forests and reforest areas of the country have led to 30.4% of the country being covered with forests. These areas play an important role in mitigating Rwanda’s contribution to climate change.
A National Cooling Strategy has been put in place which will phase out or reduce the use of powerful greenhouse gases used in cooling systems (known as HFCs) as part of efforts to achieve the goals of the Kigali Amendment to the Montreal Protocol.
Rwanda is also investing heavily in e-mobility, sustainable urbanisation, climate smart agriculture and renewable energy.
ENI’s decarbonization strategy also envisages a progressive reduction in hydrocarbon production in the medium term, and an increasingly important role for gas, with the aim being to reach a 60% share of the production mix by 2030 and more than 90% by 2050.