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By Nathan Allen
Eni SpA (ENI.MI) has set a target for its upstream business to generate net zero direct carbon dioxide emissions by 2030, it said Friday.
Over the next four years, Eni plans to invest 3 billion euros ($3.39 billion) in its decarbonization strategy, which includes planting large forests to absorb 20 million tonnes of CO2 a year.
The company also plans to increase its investment in renewable energy and cut down on flaring, the practice by which natural gas is burned off during the extraction of oil.
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(END) Dow Jones Newswires
March 15, 2019 07:40 ET (11:40 GMT)
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