A2A, 17 billion to reach Net Zero by 2050
The energy group presents its first Transition Plan, which envisages a 90 per cent reduction in emissions by mid-century
by Cheo Condina
By 2035, 17 billion euro investments eligible for the EU taxonomy, of which 7 billion dedicated to key decarbonisation measures. An almost total reduction of direct and indirect emissions along the entire value chain: -90% by 2050 (compared to 2023). This is, in a nutshell, the first climate transition plan presented yesterday by A2A that defines targets, operating levers and financial instruments to guide the energy group's path towards the Net Zero objective by 2050. According to CEO Renato Mazzoncini the new climate transition plan represents "A2A's commitment to a decarbonised world in which we continue to believe. We have 23 billion in investments to 2035, 17 of which are eligible for EU taxation and 7 dedicated to carbon dioxide abatement'. After all, he noted, 2050 'is awfully close and the goal is to arrive decarbonised. If we do not follow a strict roadmap we will not succeed'. This is also in the face of major technological challenges, two of them above all: data centres, which are 'necessary but very energy-intensive', and the electrification of fleets. New infrastructure will therefore have to be developed, as will work on CO2 capture and storage.
The cost of "not doing"
In other words, which are those of A2A's chairman, Roberto Tasca, "climate change mitigation is an unavoidable condition for the stability of environmental, social and economic systems". Not least because the so-called "cost of not doing" is enormous: "Since 2000 to date, extreme climate events have generated damage of more than 3.6 trillion dollars and estimates indicate that the costs of inaction could reach 1.2 trillion euros, almost double the investments needed to comply with the Paris Agreements," Tasca added, pointing out that in this scenario "companies' climate transition plans play an essential role in mobilising capital".
The Plan to 2050
A2A's plan is based on the assumption that Italia will achieve climate neutrality by 2050, and estimates a 90 per cent cut in the group's carbon footprint by mid-century compared to 2023, with only residual emissions offset through certified removal credits. The group's strategy will hinge on two strands, the circular economy and electrification of consumption, with 7 billion of investments to 2035 allocated to decarbonisation measures, including 3.4 billion for the development of production from renewable sources and 1 billion for CO2 capture solutions for waste-to-energy plants, industrial and data centre heat recovery for district heating networks, electrification of the fleet dedicated to waste collection, and the development of production from bioenergy.
