Eni Toughens Up Climate Targets to Be Carbon-Neutral by 2050

Eni SpA said it’ll be carbon-neutral by mid-century, toughening its climate targets and announcing a further shift away from oil.

The Italian energy giant, publishing its strategic plan, said it’s committed to the “full decarbonization” of all its products and processes by 2050. That ambition, which compares with a previous goal for an 80% cut in net emissions, illustrates the mounting pressure on oil companies to act on climate change -- not only from consumers and activists but major investors too.

“This is a target not an aspiration,” Chief Executive Officer Claudio Descalzi said Friday in a presentation. “It’s achievable ...