Cassa Depositi e Prestiti (CDP), the Italian financial services institution for economic development, and Italy-headed oil, gas. and energy major Eni S.p.A have signed a collaboration agreement for the identification and joint promotion of initiatives in Italy related to the circular economy, decarbonization, and sustainability, to be undertaken also through the revitalization of industrial sites.
Specifically, Eni and CDP will evaluate the potential construction of new plants to produce fuel, such as bio-oil and biomethane (aka renewable natural gas – RNG), using municipal organic solid waste (MOSW), closing the cycle of waste in local areas, and promoting resource efficiency as part of a drive towards a wider circular economy.
They will also look at constructing renewable energy plants in Italy, particularly at the potential to convert abandoned industrial sites and therefore minimise the use of land that could be used for other purposes.
Finally, Eni and CDP will assess the potential construction of renewable electricity production plants and other investments in the energy sector, with the aim of achieving sustainable development objectives in developing countries, where they will also implement programmes to promote social and economic development.
Under the agreement, CDP will contribute to fostering and managing relations with the public administrations and institutions involved, in coordination with Eni, and will work to expand the scope of the joint initiatives by leveraging its assets. CDP will also provide its economic and financial expertise and will evaluate forms of financial support for specific initiatives.
Promote initiatives in developing countries
With the support of Eni, the company will also help promote initiatives in developing countries, blending resources from national, European and international institutions, and identify appropriate tools and methods of financial support for specific initiatives.
Today’s agreement marks an important step forward in the process ushered in by CDP’s new Industrial Plan, in support of the Sustainable Development Goals (SDGs) set out in the United Nations 2030 Agenda. We are delighted about this new collaboration because it means we can get to work with Eni straight away on identifying and promoting initiatives to support the circular economy, decarbonization, and sustainability. We believe that working together will play a key role in launching high value-added projects in the energy sector and in the fight against climate change, generating a positive socio-economic and environmental effect both in Italy and in developing countries, commented Fabrizio Palermo, CEO of CDP.
Eni will bring its industrial, technical and commercial expertise, including that of its subsidiaries Syndial, an environmental company, and Eni New Energy, a company dedicated to renewable energy, energy access projects, and emissions mitigation, and will leverage its assets.
We have signed an agreement of strategic importance. The partnership with Cassa Depositi e Prestiti gives us great strength to continue on the path towards a future of more sustainable energy that embraces the circular economy. We have already taken some very important steps on this ambitious and pragmatic path, but we cannot reach this goal alone. A system must be created at a national level to promote a culture of sustainability and circularity across institutions and within the national economic framework, establishing the common factors of investment and expertise. Today’s agreement sets the stage for this to happen, said Claudio Descalzi, CEO of Eni.
