Italian investment bank Cassa Depositi e Prestiti (CDP) and Snam have started a collaboration to develop and implement projects to reduce and absorb CO2 emissions through actions of reforestation and creation of green spaces within Italy.
To achieve this, a benefit corporation will soon be set up, which will promote and implement afforestation and reforestation initiatives on land owned by the public administration and local authorities, and which will be financially supported by companies and individuals, through the selling planting services. The goal is to plant 3 million new trees by 2030.
The new company will benefit from CDP’s economic and financial skills, which will help to manage relations with institutions and assess the possible involvement of the Group’s companies and network of suppliers. Snam will bring the industrial and technical expertise gained over years of experience in environmental restoration initiatives related to its infrastructure projects, as well as skills in energy efficiency and urban reforestation.
For CDP, this project renews the commitment stated in its 2019-2021 business plan to develop initiatives aimed at responding to the major international trends relating to the energy transition and climate change, with a primary focus on decarbonisation and the reduction of emissions.
For Snam, the start of this partnership represents the natural evolution of a path towards addressing issues of biodiversity and protecting the environment and natural heritage, which has characterized the company in its eighty years of building infrastructure, even in delicate ecosystems such as crop areas and parks. In the last ten years alone, the company has carried out environmental restorations in Italy for over 2,000 kilometers, reforestations for over 200 kilometers and crop care for over 1,300 kilometers. The project is also consistent with the company’s commitment to advance the energy transition and is part of the definition of Snam’s ESG strategy, which will be announced next November.
