What is the strategic theme of this decade?
The last one that we passed was clearly the emergence
of renewables as a very competitive
and important part of the value chain.
This one, I think, is going to be the progressive electrification
of energy demand around the world.
The decade where people will start thinking
of how they can live better using electricity,
which is the basis, the pillar of the way
we’ll be developing our strategy in the next few years.
The electrification, we see,
is the last step towards a fully sustainable world,
so a fully decarbonized world.
Electrification means that there are parts of our economy,
parts of our private life that will use electricity that before did not.
One big example for us is the great revolution
that is going on for the automotive industry
and all the mobility that will become electrified in the next ten years,
and to prepare ourselves for that needs a big investment.
On the other side, we also need to make sure
that we help customers understand the value for them.
What is the benefit they have in reducing their costs
and also reducing their carbon footprint.
It’s the perfect mix between sustainability and business.
Fighting climate change is also good for the economy.
So the question is now:
How fast are we going to do this?
And we found out during the strategic exercise
that we can indeed accelerate our full decarbonization by ten years.
So, instead of 2050, we brought back this deadline to 2040.
That means that by then, we will be having finished the substitution
of thermal generation with renewables in all geographies
and also switched a lot of customers
that we are today serving with gas, to electricity.
Sustainability is at the core of our strategy
and defines how we empower sustainable progress.
We belong to the territory and we are an essential element
in the lives of people, business and society at large.
We’re doing this to help people improve their quality of life because,
if you get more efficient in using your energy,
you also have a lower carbon footprint.
The environment will benefit.
And, by the way,
switching from one technology to another, we know, creates jobs.
And that is going to help a lot of other companies
that work with us to accelerate and benefit from this transition.
Our strategy is completely focused on shared value.
For example, in the plan,
you will see the value that we will create to our clients
which will enjoy by 2030 a 40% reduction in their energy spending,
alongside an 80% reduction of their CO2 footprint.
In our plan, we have a 6% - 7% annual growth.
We couple these with more than 94% of Capex
linked to Sustainable Development targets.
Sustainable finance will have to increase the instruments
and everything to finance and fuel,
so financed in a sustainable way.
To our shareholders, we confirm our dividend policy running on
a fixed and visible dividend,
which together with our earnings growth,
will support a total return of around 13%.