Snam, an Italian energy company, has been awarded the United Nations Environment Programme’s (UNEP) Gold Standard for the third consecutive year. This recognition is given to companies that demonstrate a commitment to reporting activities and reducing methane emissions. Snam received a score of 8.5 out of 9, indicating its strong performance in this area.
Snam’s commitment to reducing emissions is part of its larger goal to achieve carbon neutrality by 2040. The company has made significant progress in this regard, with a 45% reduction in emissions in 2022 compared to 2015. This exceeds its internal target of a 55% reduction by 2025 and is three years ahead of the targets recommended by UNEP.
Methane emissions from Snam’s transport network accounted for only 0.024% of the gas released into the grid in 2022. This highlights the company’s efforts to minimize its environmental impact and prioritize sustainability.
Snam joined the Oil and Gas Methane Partnership (OGMP) 2.0 voluntarily in 2020. This partnership aims to reduce methane emissions in the oil and gas sector and aligns with Snam’s commitment to sustainability. The Gold Standard awarded by UNEP is part of the OGMP 2.0 protocol.
By receiving the Gold Standard, Snam is recognized as a leader in methane emissions reduction and transparent reporting. The company’s efforts align with global goals to mitigate climate change and promote a greener future. As the urgency to address climate change increases, companies like Snam play a crucial role in driving sustainable practices and inspiring others to follow suit.
Overall, Snam’s commitment to reducing emissions and achieving carbon neutrality by 2040 is commendable. Its continued efforts to minimize methane emissions and its high score in UNEP’s evaluation demonstrate a strong commitment to sustainability. By setting ambitious targets and exceeding them, Snam serves as an example for other companies in the energy sector to prioritize environmental responsibility.