Eni for 2022 – A Just transition: Introduction

4 ENI FOR 2022 A JUST TRANSITIONHOME

Message to our stakeholders

INTRODUCTION	CARBON NEUTRALITY		OPERATIONAL EXCELLENCE		ALLIANCES FOR DEVELOPMENT	5

sources to benefit energy security and sustainability.

ernance, business activities and financial instruments. Agri-busi-

fields. Furthermore, the year saw the Joint Declaration with UNIDO

The events in Europe in 2022, correlated to Russia's invasion of Ukraine, have brought energy security and energy costs into focus as essential elements for our communities to be pursued alongside decarbonization. The challenge at the heart of the public debate is to find adequate answers to this trilemma in a context of extreme volatility, uncertainty and growing imbalances.

In this scenario, Eni has worked to contribute to European energy security. The company has pursued its path of transformation towards the decarbonization of products and services, leveraging a distinctive strategy based on geographical and technological diversification of energy sources, working with its stake- holders, and considering gas as a "bridge" energy source in the transition.

A few months after the outbreak of the war, we defined a series of agreements with our historical partners to diversify gas supplies to Italy and Europe, enabling us to replace 100% of the approximately 20 billion cubic metres previously supplied by Russia by 2025. This will be possible thanks to Eni's quick entry into production of its gas discoveries and the solidity of its rela-

tions with producing Countries. In this regard, in the last quarter of 2022, the first delivery of LNG produced by the Coral South field in Mozambique was completed, and we expect the first delivery of LNG from Congo as early as the end of this year.

At the same time, we remained firm in our commitment and our targets towards Carbon Neutrality by 2050, anchored on sound investments. We achieved a 17% reduction in Net GHG Lifecycle Emissions (Scope 1+2+3) compared to 2018. We continued implementing the necessary measures to achieve Scope 1+2 Net Zero emissions Upstream by 2030. We have worked to reduce our upstream emissions by investing in emission-reduction technologies and developing upstream low carbon projects. In particular, in April 2023, we launched the FPSO that will be used, as early as the middle of this year, for production from the Baleine deposit in Côte d'Ivoire, the most important discovery ever made in the Country and also the first Scope 1+2 Net Zero development in Africa.

We continue to invest in reducing methane emissions.

To provide effective answers to the energy trilemma and con-

tribute to providing abundant, affordable and environmentally sustainable energy, Eni has developed an innovative business and financial model that allows us to solve the problem of capital allocation, striking the right balance between investments and returns. The satellite business model envisages the creation of dedicated companies capable of independently accessing capital markets to finance their growth and able to exploit each business fully. These companies can access specialised capital pools, optimising Eni's financial structure while exploiting the technologies, know-how and services that Eni itself offers. In early 2023, Eni Sustainable Mobility became operational, offering progressively decarbonized products and services to reduce Scope 3 emissions in mobility, working alongside Plenitude, focused on increasing renewable capacity and providing decarbonized energy to end custom- ers. With different purposes, the satellite model was applied in some E&P geographic areas, through business combinations that resulted in deconsolidated companies whose significant investments are financed auton- omously, freeing up financial re-

We strongly believe in technological innovation as a driver to achieve our short-, medium- and long-term goals: proprietary technologies matured within traditional businesses and breakthrough technologies play a central role in Eni's decarbonization strate- gy. Among the former, Ecofining technology allows us to produce biofuels from biological origin waste and raw materials that do not compete with food use. In contrast, reservoir and storage technologies are used in synergy with depleted oil fields to develop effective CO2 capture and storage solutions. In addition, we connected the first system for generating electricity from wave power, another potentially inexhaustible energy source, to the island of Pantelleria's electricity grid. Finally, we have increased efforts to accelerate the development of breakthrough technologies such as fusion, whose implementation and penetration, in the long run, could reshape energy paradigms globally, providing vast amounts of safe, potentially inexhaustible and zero-emission energy. In March 2023, we signed a new cooperation agreement with Commonwealth Fusion Systems (CFS), a spin-out of the Massachusetts Institute of Technology (MIT), to accelerate the industrialisation of fusion ener- gy. CFS, where Eni is a strategic shareholder, is working to have the first pilot reactor capable of generating energy from fusion operational as early as 2025, with

1. view to the first grid-connected industrial plant planned for early next decade.
   In the transformation path that Eni has undertaken, the UN Sus- tainable Development Goals are an important reference for con- ducting activities in the Countries where it operates for integrating principles and values into its gov-

ness, for example, embodies the fundamental pillars of Eni sus- tainability: an energy transition with a strong innovative component combined with a strong focus for the social dimension. With this in mind, Eni is working to ensure that the decarbonization process offers opportunities to convert existing activities and develop new production supply chains with significant opportunities in the Countries where it operates. In 2022, the first cargo of vegetable oil produced in Ken- ya not competing with the food production chain, from waste and raw materials produced on degraded land, was delivered to Eni's biorefining plants, with substantial positive impacts on employment and local development. The model will be replicated in other Countries and is accompanied by

1. capacity-buildinginitiative, car- ried out with IRENA, to train civil servants in the same Countries on the opportunities of developing a biofuel supply chain.
   Through alliances for develop- ment, we also carry out local de- velopment projects in the Coun- tries where we operate to help provide access to energy, edu- cation and health and promote economic diversification. Among the initiatives implemented in 2022 to support the Just Tran- sition are those in Côte d'Ivoire, Mozambique and Ghana to facil- itate access to clean cooking. In Côte d'Ivoire, more than 20,000 cookstoves were distributed in just six months, reaching more than 100,000 people. Eni has promoted the right to education in Congo, Ghana, Iraq, Mexico, Mozambique, and Egypt, where Eni opened the Zohr Applied Technology School, intending to significantly increase the number of young people with appropriate technical and professional skills in the energy and technology

signed to strengthen collaboration in areas of common interest, such as economic diversification and renewable energy, in line with SDG 9 (Industry, Innovation and Infrastructure).

To protect and respect human rights, we promote a structured and rigorous approach, constantly monitoring activities and projects to assess their impacts and outcomes in line with the highest standards. Among them, the Guiding Principles on Business and Human Rights (UNGPs), the 10 Principles of the Global Compact and the OECD Guidelines for Multinational Enterprises are vital references to guide our business and corporate practices.

In managing the difficult challenges that Eni faces, we keep our priorities firmly on track with an ongoing commitment to protecting the health and safety of our people, safeguarding the integrity of our assets, and protecting the environment, biodiversity and water resources. We value a culture of diversity and inclusion as a strength for addressing change and are committed to promoting gender equality and women's empowerment in the workplace and communities.

The success of our strategy can only be achieved with the collaboration of our stakeholders, from private, public, international and civil society organisations to research institutes. More than ever, there is a need to pool resources and human capital with a broad view to align on common goals to reduce geographical gaps and promote global human progress.

Claudio Descalzi

Chief Executive Officer

6	ENI FOR 2022 A JUST TRANSITION	HOME	INTRODUCTION	CARBON NEUTRALITY		OPERATIONAL EXCELLENCE		ALLIANCES FOR DEVELOPMENT	7

Eni in the world

Eni is an integrated energy company with a global presence, employing over 32,000 people, that aims to achieve Carbon Neutrality by 2050 satisfying the three fundamental energy goals: environmental sustainabil- ity, energy security and accessibility. Beyond environmental sustainability, Eni's commitment to a socially just and equitable energy transition, as stated in the Company's Mission, includes concrete actions to promote access to efficient and sustainable energy for all, reducing emissions related to its activities and to the whole supply chain of energy products sold, focusing on innovative and proprietary technological solutions, diversifying energy sources and creating at the same time long-term shared value.

The path towards a Just Transition starts with a strong commitment from top management, but it necessarily requires the involvement of every Eni person in the world through the constant dissemination of strong values related to ethical and a socially Just Transition.

AMERICAS

1. COUNTRY

EUROPE

1. COUNTRY

10

19

10

ASIA AND OCEANIA

19 COUNTRY

14

6

9

2

AFRICA

13 COUNTRY

13

3

7

62

Countries of presence

€164 mln

total expenditure on Research and Development

29.9 mln

tonnes of CO2eq. Net Carbon Footprint Eni (Scope 1+2)

1,796

persons hired

90%

reuse of freshwater

ENI'S ACTIVITIES IN THE WORLD

EXPLORATION & PRODUCTION

GLOBAL GAS & LNG PORTFOLIO

REFINING & MARKETING AND CHEMICALS

PLENITUDE & POWER

AMERICAS

EUROPE

AFRICA

ASIA AND OCEANIA

ARGENTINA

ALBANIA

GREECE

SLOVENIA

ALGERIA

KENYA

AUSTRALIA

QATAR

BRAZIL

AUSTRIA

HUNGARY

SPAIN

ANGOLA

LIBYA

BAHRAIN

RUSSIA

CANADA

BELGIUM

ITALY

SWEDEN

CONGO

MOROCCO

CHINA

SAUDI ARABIA

ECUADOR

CYPRUS

NORWAY

SWITZERLAND

EGYPT

MOZAMBIQUE

INDIA

SINGAPORE

MEXICO

CZECH REPUBLIC

POLAND

THE NETHERLANDS

GABON

NIGERIA

INDONESIA

SOUTH KOREA

THE UNITED STATES

DENMARK

PORTUGAL

THE UNITED KINGDOM

GHANA

TUNISIA

IRAQ

THEUNITEDARABEMIRATES

VENEZUELA

FRANCE

ROMANIA

TURKEY

IVORY COAST

JAPAN

TIMOR LESTE

GERMANY

SLOVACK REPUBLIC

KAZAKHSTAN

TURKMENISTAN

LEBANON

VIETNAM

OMAN

8 ENI FOR 2022 A JUST TRANSITION

Eni's activities: the value chain

View from above of the Porto Torres plant

HOME

Eni is a global energy company with a high technological content, engaged along the entire value chain: from the exploration, development and extraction of oil and natural gas, to the generation of electricity from cogeneration and renewable sources, traditional and biore- fining and chemicals, and the development of circular economy processes. Eni extends its reach to end markets, marketing gas, power and products to local markets and to retail and business customers, also offering services of energy efficiency and sustainable mobility. Consolidated expertise, geographical and technological diversification of

INTRODUCTION	CARBON NEUTRALITY		OPERATIONAL EXCELLENCE		ALLIANCES FOR DEVELOPMENT	9

energy sources, alliances for develop-	strengthening available and economically	the development of hubs for the stor-
ment, as well as new business and fi-	sustainable technologies such as:	age of the CO2 from hard-to-abate
nancial models are Eni levers to meet	•	Progressive growth of the gas compo-	emissions generated by Eni's and third
each of the essential pillars of the en-		nent as a bridge energy source in the	parties' industrial plants;
ergy trilemma, achieving environmental		transition, flanked by investments to	• Progressive increase in the production
sustainability, side-by-side with energy		reduce emissions;	of new energy carriers, including hy-
security and affordability, while also	•	Bioenergy through the development of	drogen.
maintaining a strong focus on value cre-		biomethane and biofuels, by increasing	The scale use of these solutions together
ation for shareholders. Along this path,		feedstocks of bio and renewable raw	with research into breakthrough technol-
Eni is committed to become a leading		materials, waste and residues and of	ogies, such as magnetic confinement fu-
company in the production and sale of		an integrated agri-feedstock produc-	sion, can support the revolution of the en-
decarbonized energy products and in-		tion chain not in competition with food	ergy sector. Residual emissions, i.e. those
creasingly customer-oriented.		production;	that cannot be reduced due to technical
Eni's strategy to reach Carbon Neutral-	• Renewables through increased capacity	and economic constraints, will be offset
ity by 2050 leverages on an industrial		and integration with the retail business;	through high quality carbon offsets, main-
transformation to be implemented by	•	Carbon Capture Storage (CCS) through	ly deriving from Natural Climate Solutions.

OUR VALUE CHAIN

REMEDIATION,

PRODUCTSSERVICES

DEVELOPMENT OF		PURCHASE OF
	BIO AND RENEWABLE
AGROBIO-FEEDSTOCK
	RAW MATERIALS,
SUPPLY CHAIN
	WASTE AND RESIDUES

PURCHASE OF GAS

FROM THIRD PARTIES

							TRADING
							& SHIPPING
	OIL & GAS PRODUCTION
EXPLORATION
AND DEVELOPMENT							TRANSMISSION
							NETWORK

PRODUCTION FROM

RENEWABLE SOURCES

CARBON OFFSETS

THIRD PARTY INDUSTRY

WATER AND WASTE

INTO DEVELOPMENT

TRADITIONAL AND

BIOREFINING

AND PETROCHEMICALS

ELECTRICITY GENERATION

CO2	CAPTURE, STORAGE
AND USE OF CO²

LUBRICANTS

TRADITIONAL AND BIOREFINING AND PETROCHEMICALS

OIL & GAS

ELECTRICITY

FOOD

SERVICES RETAIL

MARKETS

SUSTAINABLE MOBILITY

E-MOBILITY	BUSINESS
	MARKETS
ENERGY EFFICIENCY
PHOTOVOLTAIC	HOST
COUNTRIES

NETWORK SERVICES

CO2

CCUS

10

ENI FOR 2022 A JUST TRANSITION

HOME

Business model

Eni is an integrated energy	Eni's business model is aimed at creating long-term value for all stakeholders through a strong
company supporting	presence along the entire energy value chain. The core is represented by Eni's mission, inspired
a socially fair energy	by the United Nations 2030 Agenda, whose foundations are embodied in Eni's distinctive approach,
transition that through	which permeates all activities. Eni is committed to fulfilling the essential pillars of the energy sys-
concrete and economically	tem trilemma, pursuing environmental sustainability together with energy security and affordability.
sustainable solutions, aims	These goals leverage the diversified geographical presence and a diversified mix of energy sources,
to face the crucial	which, together with a portfolio of new technologies and their fast-track development, will create
challenges of	a diversified energy mix for energy transition supporting energy security, progressing in value cre-

INTRODUCTION

CARBON NEUTRALITY

OPERATIONAL EXCELLENCE

ALLIANCES FOR DEVELOPMENT

11

VALUE CREATION FOR STAKEHOLDERS

Through an integrated presence all along the energy value chain

the current time:	ation and breakthrough opportunities, while recognising the essential role of partnerships and
combating climate change	alliances with stakeholders, to ensure their active involvement in the transformation of the energy
and giving access to	system.
energy in an efficient and	The agile and innovative business model leverages proprietary technologies at the base of tradi-
sustainable way for all	tional businesses for the development of a satellite model of creating dedicated entities capable of
	independently accessing capital markets to fund their growth and to reveal the real value of each
	business.
	This integrated business model is supported by a Corporate Governance system inspired by the
	principles of transparency and integrity, an Integrated Risk Management Model ensuring, through
	the assessment and analysis of the risks and opportunities of the reference scenario, informed and
	strategic decisions, as well as materiality analysis to examine the most significant impacts gen-
	erated by Eni on the economy, environment and people, including those on human rights.
	The operation of the business model is focused on the best possible use of all the resources (in-
	puts)of the group and on their transformation into outcomes, through the implementation of its
	strategy, while contributing to the achievement of the Sustainable Development Goals (SDGs)
	of the 2030 Agenda.
	Eni also organically integrates its business plan with the principles of environmental and social
	sustainability, deploying its actions along three levers:

OPERATIONAL EXCELLENCE: Eni's business is aimed to operational excellence through the continuous commitment in the enhancement, health and safety of people, assets integrity, environmental protection, respect for human rights, resilience and diversification of activities and financial soundness. These elements allow Eni to seize the opportunities deriving from the possible developments in the energy market and to progress its transformation path.

CARBON NEUTRALITY BY 2050: Eni's business model envisages a decarbonization path towards Carbon Neutrality by 2050 based on an approach oriented to emissions generated throughout the life cycle of energy products. This path, achieved through existing technologies, will allow Eni to totally reduce its carbon footprint, both in terms of net emissions and in terms of net carbon intensity. In this context gas figure as a bridge energy source in transition.

ALLIANCES FOR THE PROMOTION OF DEVELOPMENT: Eni is committed to reduce energy poverty in the Countries where it operates through the development of infrastructures linked to traditional business but also to the new frontiers of renewables with the aim of generating value in the long-term by transferring its know-how and skills to local partners (so called "Dual Flag" approach). In these Countries, Eni promotes initiatives to support local communities' accessing to energy, to diversify economy, training and health of community, access to water and sanitation, and protection of the territory, in collaboration with international players and in line with the National Development Plans and the United Nations 2030 Agenda.

INPUT(*)

516.5 mln

total GJ energy consumption

32,188

employees

over 300,000 km2

oil & gas exploration/ development licences

Gas/LNG portfolio flexibility

10.1 mln

customers

€67 bln

capital employed

~8,000

licences

€76.4 mln

investments for local development

€8.2 bln

net capex

OPERATIONAL	CARBON	ALLIANCES
EXCELLENCE	NEUTRALITY	FOR DEVELOPMENT
	BY 2050
Approach to lead the	Products and processes	Value creation shared
transformation	decarbonization	with host Countries

STRATEGY AND TARGET

V

ED A

T

L

A

U

R

E

C

G

E

H

T

A

N

I

N

E

I

N

C

A

N

R

R

I

E

S

K

V

NATURAL

ENERGY

M

O

RESOURCES

EVOLUTION

A

G

MISSION

A

E

N

T

PROPRIETARY

GEOGRAPHICAL

G

A

TECHNOLOGIES AND

AND ENERGY SOURCES

E

R

O

BREAKTHROUGH

DIVERSIFICATION

M

P

E

O

SATELLITE

N

T

R

C

MODEL

F

E

I

N

N

L

A

IP

I

N

C

C

IA L DIS

OUTPUT(*)

-8%

Net GHG Lifecycle Emissions (Scope 1+2+3)

0.41 TRIR

(recordable injuries /hours worked)

2.3 GW

renewable capacity

Sustainable biofuels

€5.4 bln

shareholders remuneration

€20.4 bln

organic cash flow

13%

leverage

access of

120 thousand

people to health services

€8.5 bln

taxes paid

~750 mln boe

new resources

(*) In 2022, unless stated otherwise.

12 ENI FOR 2022 A JUST TRANSITIONHOME

Towards a Just Transition: scenario and global challenges

INTRODUCTION	CARBON NEUTRALITY		OPERATIONAL EXCELLENCE		ALLIANCES FOR DEVELOPMENT	13

Eni intends to play a defining role in the path towards a just energy transition

The challenges facing the world energy system, both now and in the coming years, appear increasingly complex and articulated as the goals and targets to be pursued have increased, and the actions to be taken have become increasingly urgent. If, until the outbreak of the war in Ukraine, the key objectives for the coming decades were the fight against climate change and universal access to energy, after the outbreak of the war, the complexity of energy systems grew exponentially, with disruptive dynamics in the oil and gas markets, highlighting a weakness in the current energy system and re-awakening de-

mand for the most polluting fuel, coal. These events led to the urgency to take concrete actions to mitigate the effects of such turbulence immediately and over time for consumers and the global economic system. The sharp contraction/disappearance of oil, gas and coal flows from Russia, on which the European market has historically depended, has brought to everyone's attention the urgency of adding a fundamental pillar to future goals: energy security. Over the next three decades, energy demand will continue to grow, driven by the needs of emerging economies, while industrialised Countries will

see a gradual slowdown in con- sumption, mainly driven by energy efficiency and energy-saving processes. Fossil sources will continue to play an essential role in the energy mix (also thanks to CCUS, which allows for a lower emission profile). However, their share is expected to decrease compared to today. This is mainly due to the lower coal input, to be replaced by sources with a lower environmental impact (gas and renewables). Breakthrough technologies such as nuclear fusion will enter the mix and, together with new sources/vectors, will help reduce the world's energy system footprint.

with forecasting logic that, based on economic and demographic drivers, incorporate the policies implemented and planned by Governments (STEPS - Stated Policies Scenario, to which is associated a temperature increase of about 2.5°C in 2100), and the achievement within the stated timeframe of the Net Zero targets announced by Governments (APS

• Announced Pledges Scenario, to which is associated a temperature increase of about 1.7°C in 2100). STEPS draws an energy landscape to 2050 in which energy demand grows at a rate close to 1% per year on average, reflecting population and

FOCUS ON

economic dynamics, tempered by the push for energy efficiency. Fossil fuels, particularly gas and oil, still play a central role in the mix (47% of the total vs. 52% today) and intermittent renewables (solar and wind) increase their role (12% to 2050 vs. 2% today). In the APS, energy demand in 2050 remains in line with current levels. The mix shifts in favor of low carbon sources, with an increasing share of nuclear (9% to 2050 vs. 5% in 2021) and intermittent sources (24% to 2050 vs. 2% in 2021); fossil sources, while decreasing, still maintain a prominent role in the energy mix (Oil & Gas equal to 31% of the

mix in 2050 vs. 52% in 2021); natural gas, despite its lower emission intensity among fossil fuels, reduces its weight in the overall energy mix (14% in 2050 vs. 23% today), penalized by the energy crisis that is slowing the exit of more polluting sources (e.g. coal), with negative emission impacts in the short-term. In such a scenario, although oil demand is expected to fall (to 57 Mb/d in 2050 vs. about 95 Mb/d in 2021), there remains a need for upstream investments to compensate for declining production from existing fields, also in light of the sector slowing down in in recent years.

The historical link with Africa inevitably strengthens as we face the challenge of security of supply with our energy transition goals in mind: transition and security are precisely the two dimensions we must continue to work on through our partnerships

| Claudio Descalzi -

Chief Executive Officer

of Eni |

Energy security at the centre of global agendas: Eni's contribution

9,7 bln

people in 2050

+1,6bln

people in 2050 in Africa and Pacific Asia

+33%

energy demand in 2050 vs. 2021 in emerging Countries

WORLD POPULATION (bln of people)

12

10

TODAY

8

6

4

2

0

1950	1960	1970	1980	1990	2000	2010	2020	2030	2040	2050	2060	2070	2080	2090	2100
Africa		Asia		Europe		Latin America and Caribbean	North America	Oceania

Source: United Nations, Department of Economic and Social Affairs, Population Division (2022).

ENERGY DEMAND (Gtep)

20
15
10		73%
64%		72%
5
	36%	27%	28%
0
2020	2050	2050	2050
		(STEPS)	(APS)	(NZE)
	NON OECD	OECD		World

Source: International Energy Agency (2022),

The trilemma facing the energy sector requires balancing the environmental sustainability challenge with the need to ensure energy security and accessibility for everyone within a context of a growing world population. Eni recognises the need to be agile and flexible in addressing this predicament by adopting a model based on the diversification of the energy and geographical mix, the development of new technologies and the central role of gas as support of transition. In an uncertain and volatile context, exacerbated by the consequences of the war in Ukraine, in 2022 Eni moved quickly to define a series of agreements with its historical partners to diversify gas supplies to Italy and Europe, enhancing own gas discoveries. At the same time, Eni has maintained its decarbonisation efforts and objectives, including those relating to Scope 3 emissions. The plan will allow Eni to replace more than 50% of the approximately 20 billion cubic meters of gas historically supplied from Russia, helping to guarantee Italy sufficient volumes to fill gas storages at a record level, exceeding the target of 80%. By 2025 Eni expects to replace 100% of this gas with the increase of production in Africa, that will guarantee additional supply via pipe and LNG. Environmental sustainability, security and energy accessibility are global issues not concerning only Italy and Europe, as they are particularly relevant in developing regions. With this in mind, in 2022 Eni strengthened its own historical link with the Countries in which it operates, particularly in Africa, allocating to domestic market approximately 90% of the gas produced, contributing to the access to safe energy for local communities. At the same time, Eni is working to reduce the emissions associated with its production through investments in efficiency, the construction of photovoltaic plants to power its assets (for example in Egypt and Algeria) and the development of Upstream projects with a low carbon footprint, such as Baleine in the Ivory Coast, which will be the first Net Zero (Scope 1+2) development on the continent.

World Population Prospects 2022, Online Edition.

World Energy Outlook 2022, IEA, Paris.

UNIVERSAL ACCESS TO ENERGY

the rise after years of decline (~+20	number of people without access
million in 2022 vs. 2021), particular-	has almost returned to its 2013

THE DIFFERENT ENERGY SCENARIOS

The need to implement plans and actions to limit the global average temperature increase to within 1.5°C is supported by the Intergovernmental Panel on Climate Change (IPCC), a United Nations organization responsible for providing scientific evidence on climate change. In its recent report (AR6), the IPCC reaffirms the importance of limiting the temperature increase to 1.5°C relative to pre-industrial levels by the end of

the century. In addition, IPCC underlines that achieving this goal requires immediate and rapid reductions in global GHG emissions and achieving net zero for CO2 emissions around 2050. The evolutionary pathways compatible with this goal are many. For example, in the global energy landscape, the International Energy Agency (IEA) targets Net Zero emissions by 2050 (jointly with full access to energy by 2030) in its NZE pathway constructed with a backcasting logic, i.e., identifying in reverse what

is needed for the achievement. To this end, according to the Agency, it is already necessary in the immediate term to adapt/modify existing energy systems or build new ones, requiring major investments. In this path, even with a population increase of about 2 billion and a global economy growing at an average rate of 3% per year, global energy demand in 2050 decreases compared to today (-15% vs. 2021). Within the WEO

• World Energy Outlook, the IEA also publishes two scenarios constructed

In 2021, about 750 million people - about 10% of the world's population

• had no access to electricity, main- ly in Sub-Saharan Africa and South East Asia. While the last 20 years have seen huge improvements, especially in India, the pandemic followed by the energy crisis has reversed several years of progress. Indeed, the global energy crisis is also undermining efforts to ensure universal access to safe and afford- able energy, especially in develop- ing Countries where populations without access to electricity are on

ly in Sub-Saharan Africa, where the

peak.

NUMBER OF PEOPLE WITHOUT ACCESS TO ELECTRICITY IN SUB-SAHARAN AFRICA AND THE WORLD, 2012-2022

1,500

Covid-19

1,200 World

900

600

Sub-Saharan Africa

300

0

2012

2014

2016

2018

2020

2022

Source: International Energy Agency (2022), World Energy Outlook 2022, IEA, Paris.