The Case of Eni

Abstract

This chapter focuses on Eni, the sixth largest integrated energy company by market value in the world, characterised by a strong position on the oil and gas value chain from the upstream phase of hydrocarbon exploration to the downstream phase of product marketing. The purpose is to shed light on Eni’s recent advances in corporate reporting. Therefore, after having briefly illustrated Eni’s distinctive approach to sustainable value creation, the chapter focuses on the structure and the contents of Eni’s 2012 Annual Report. Issued in May 2013, Eni’s 2012 Annual Report is an Integrated Report, prepared in accordance with the principles included in the prototype Framework developed by the International Integrated Reporting Council. The analysis presented in the chapter highlights the most innovative contents and elements of the report, and focuses on the connections between issues such as the company’s business model, the competitive environment and strategy, the integrated risk management model, and the corporate governance system. The review of the report continues with a brief illustration of the section regarding the Consolidated Sustainability Statement. In particular, sustainability represents one of the fundamental drivers of Eni’s business model, to the point that sustainability has always been conceived as part of the company’s strategy, rather than a separate and distinctive element. The illustration of Eni’s 2012 Annual Report continues with a discussion of the ways in which Eni has interpreted and then operationalized the principle of connectivity of information. Some concluding comments are offered at the end of the chapter.