The CFO taskforce and investments in support of the SDGs
As early as 2009, Snam made clear its commitment to doing business according to a model of sustainable development, respecting and protecting human and labour rights and safeguarding the environment, by joining the United Nations Global Compact, the world’s largest voluntary initiative on sustainability issues.
For Snam, this commitment also entails integrating and aligning financial planning with the SDGs, an objective that has been further strengthened by active participation in the CFO Taskforce of the UN Global Compact, of which Snam is one of the founders. The initiative involves various players in the business landscape: investors, banks, financial institutions and credit rating agencies to make the market more efficient, broader and more liquid and to promote the flow of capital into activities that contribute significantly to achieving these objectives.
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Increase the production of energy from renewable resources, including biomethane, and improve the energy efficiency of Snam’s operations, avoiding or reducing the impact on the environment, landscape and cultural heritage. Snam achieves this through its subsidiaries Snam4Environment and Snam4Efficiency: the former specialises in infrastructure for the production of biomethane and the promotion of green activities, while the latter is one of the main Italian operators in energy efficiency services for the residential, industrial and public administration sectors. Both leverage the technical expertise acquired from leading companies in the sector, in particular Renerwaste and Iniziative Biometano for the biomethane business and TEP, Mieci and Evolve for the energy efficiency business. |
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Build a more resilient and sustainable infrastructure through investments to make the infrastructure Hydrogen ready; to convert compressor stations to dual fuel and to digitalise the business, enabling Snam to become the most technologically advanced gas transport company in the world and to ensure the continued safety and sustainability of its operations. |
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Snam has created Snam4Mobility, a company dedicated to the promotion of sustainable mobility using CNG, LNG and renewable gases (bio-CNG and bio-LNG), which aims to strengthen the infrastructure for sustainable mobility (CNG/LNG refuelling stations), expand the supply for heavy vehicles and create the first hydrogen stations in the country. |
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With the aim of playing a crucial role in the energy transition and with a long-term vision aligned with the purpose “Energy to inspire the world” and European objectives, Snam will be one of the first companies in the energy sector to achieve carbon neutrality by 2040, making a concrete contribution to the decarbonisation of the system through the development of green gases and, in particular, hydrogen. Snam has created the Hydrogen business unit with the aim of being at the forefront of a sector with great growth prospects, through collaborations, strategic partnerships and the launch of new of new pilot projects. |
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The Taskforce launched in September 2020 the first integrated and UN-backed principles for investment and finance, developed to guide companies in aligning their sustainability commitments with corporate finance strategies to create a relevant impact on the SDGs. As a member of the CFO Taskforce, Snam is committed to adopting these guidelines, implementing specific KPIs and sharing experiences to contribute to the creation of a transparent and efficient SDG financial market.
In conjunction with the approval of the 2020-2024 Plan, the Group carried out an analysis to confirm the alignment between the SDGs and the investments contained in the Strategic Plan. The analysis highlighted the SDGs on which the Plan will have the greatest impact, showing an alignment of investments with the Group’s ESG priorities. In particular, the 2020-2024 Plan, although contributing transversally to many of the UN SDGs, will have a real and greater impact on SDGs 7, 13, 9 and 11 (mentioned in order of priority).
