Saipem Board Approves First ‘Energy for a Sustainable Future’ Sustainability Plan

Wednesday, July 13, 2022

Saipem’s Board of Directors, chaired by Chairman Silvia Merlo, has approved the company’s first Sustainability Plan, Energy for a Sustainable Future.

The Plan, which covers the 2022–25 four-year period, reflects one of the founding principles of Saipem’s strategic plan: the energy and ecological transition, and aims to implement an integrated strategy that combines the Plan’s business and financial objectives with a set of ESG factors in order to create value for all stakeholders in the short and long term.

Sustainability for Saipem is, therefore, an increasingly strategic priority towards which to steer skills and development and on which to base the company’s brand purpose “Engineering for a sustainable future”.

The Plan is divided into 12 strategic ESG areas, indicating for each specific objectives and related implementation plans: Net Zero, Biodiversity, Carbon Neutral Yard, Human Capital, Diversity and Inclusion, Health and Safety, Local Impact, Supply Chain, Business Ethics, Cybersecurity, Risk Management, Innovation.

The Plan sets challenging objectives, including:

Reaching Net Zero in 2050 for Scope 1, 2 and 3 emissions, as a long-term objective, with specific and timely efficiency initiatives in order to immediately start the reduction of the carbon footprint of assets and operations by supporting clients in their sustainability journey, through:

• Avoided emissions totaling 33,000 tonnes of greenhouse gases (GHG) in 2022
• Achieving Carbon Neutrality of Scope 2 emissions by 2025
• Reducing Scope 1 and 2 emissions by 50% by 2035

1. Development of the “Sustainable and Carbon Neutral Yard Project” as a distinguishing factor of Saipem’s technological and construction offering, also with a view to contributing to the achievement of Net Zero in 2050

III. Supply chain sustainability with the reduction of global emissions through the adoption of:

• ESG platform and minimum environmental requirements for suppliers as early as 2022
• Tracking tool for estimating their GHG emissions (Scope 3, Saipem Prospective)

1. Continued improvement of occupational safety indexes – already among the best in the industry for years
2. Development of an increasingly inclusive working environment, attentive to each individual and open to diversity, through the achievement of gender equity certification in 2023

The plan includes an ESG Scorecard in which the thematic areas and objectives covering environmental, social and governance aspects are reported with the aim of monitoring their implementation.

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