Preliminary Q4 2020 Eni SpA Earnings Call and 2021-2024 Strategy Update Transcript
Good afternoon, and welcome to Eni's 2000 (sic) [2020] results and strategy presentation. Due to COVID restriction, we are live streaming today from our R&D headquarter in Milan.
After -- at this time last year, we were presenting our long-term strategy. Today, we are taking another step forward in boosting our transformation. Since 2020, we have further improved and accelerated our strategy, and we can now announce our commitment to be fully carbon neutral by 2050. In line with this target, we are also announcing the merger of our retail and renewable businesses. This will allow us to be even more efficient in reaching our Scope 3 targets and to extract more value from our unique retail customer base. We remain committed to becoming a leader in producing clean energy and offering our customers a full set of the carbonized product.
Strong financial discipline remains a key component of our strategy with a material reduction of our cash neutrality. We have built robust balance sheet with resilient cash generation to respond to
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