Paola Osto, Head of Sustainability and D&I, shares the key insights from the 2024 Sustainability Report and Impact Statement.
On May 8, Plenitude published its 2024 Sustainability Report and Impact Statement. The document offers a detailed snapshot of the journey of a Benefit Corporation that fully integrates sustainability into its business model. The report transparently outlines progress in environmental, social and governance (ESG) performance across the five pillars of Plenitude’s sustainability strategy: Governance, Climate and Emissions, Business Sustainability, People and Community. To analyze the results and understand the company’s vision, we spoke with Paola Osto, Head of Sustainability and Diversity & Inclusion at Plenitude.
- The Report highlights how environmental sustainability is increasingly embedded in Plenitude’s business model. How is this integration implemented and what were the main achievements in 2024?
«Environmental sustainability is fully integrated into Plenitude’s business model and underpins all our activities: from renewable electricity generation to providing energy solutions for households and businesses, and the development of an extensive electric vehicle charging network. 2024 was a year of growth and consolidation in this direction: we surpassed 4 GW of installed renewable capacity, up by 1.1 GW compared to 2023, and renewable electricity production reached 4.7 TWh, marking a 17% increase over the previous year. Our EV charging infrastructure also continued to expand, with over 21,000 proprietary charging points installed (+12% vs 2023). These operational milestones were accompanied by solid financial results, with EBITDA exceeding €1 billion in 2024».
- Plenitude operates as a Benefit Corporation. How does this status influence your operations and the pursuit of the public benefit objectives outlined in your bylaws?
«Since 2021, being a Benefit Corporation has meant formalizing our commitment to pursue not only profit through economic activity but also specific public benefit objectives. These include promoting a culture of sustainable energy use, encouraging responsible energy consumption, fostering diversity and inclusion and placing the customer at the centre with transparency and fairness. Our CEO, as the Impact Officer, along with the Sustainability Committee, ensures strategic oversight and monitoring on these matters».
- The path to Net Zero by 2040 requires concrete action. What results were achieved in 2024?
«In 2024, we continued on our decarbonization journey, achieving a 20% reduction in our total Scope 1, 2 and 3 emissions (post-offset) compared to 2023. Additionally, 74% of the electricity sold by Plenitude in Europe was certified through European Guarantees of Origin, meaning it was generated from 100% renewable sources. In the field of electric mobility, we continue to expand our charging network, which is powered by certified renewable electricity».
- The “People” pillar is a cornerstone of Plenitude’s ESG model. What progress was made regarding gender equality and pay equity?
«Our people, more than 2,700 by the end of 2024, are the beating heart of Plenitude. We are especially proud to have reached 49.2% women in our total workforce, moving closer to our goal of 50% by 2025. Women now hold 43.5% of managerial and executive roles. A key milestone in our commitment was achieving the Italian Gender Equality Certification in 2024, in line with UNI/PdR 125:2022. Regarding the gender pay gap, our target is to close it completely by 2025. At the end of 2024, the gap stood at 1.4 for fixed pay and 1.6 for total compensation, for employees with the same role and tenure».
- Plenitude’s commitment to sustainability goes beyond company boundaries, encompassing the supply chain and support for local communities. How is this approach put into practice?
«ESG criteria integration is a non-negotiable requirement throughout our value chain. For instance, in 2024, 100% of Eni Plenitude S.p.A. Benefit Corporation's procurement processes underwent ESG assessments. At the same time, Plenitude continued its commitment to creating shared value for the communities and territories where we operate. During 2024, we supported 13 nonprofit projects targeting energy and education poverty and promoting social inclusion, reaching over 7,000 beneficiaries in Italy and abroad».
- In conclusion, what are Plenitude’s strategic directions and top sustainability priorities for the near future?
«We move forward with determination, building on the strategic pillars that define us. Expanding our renewable generation capacity remains central, with a target of 10 GW installed by 2028 and 15 GW by 2030. In the Retail sector, we aim to exceed 11 million customers by 2028 and reach 15 million by 2030. For electric mobility, our goal is to grow our European charging network to over 30,000 points by 2028 and 40,000 by 2030. The main challenge, shared by the entire energy transition, is to effectively combine environmental and economic sustainability. Our integrated business model is designed to meet this challenge head-on, turning it into an opportunity to accelerate change, continuously innovate and create value for all our stakeholders, contributing to a more sustainable future».
Download the 2024 Sustainability Report and Impact Statement to explore our integrated sustainability strategy and learn more about the 2024 ESG performance covered in this article.
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