In November last year, President Paul Kagame hosted Claudio Descalzi, Chief Executive Officer of Eni- an Italian integrated energy company that currently deals in the de-carbonization of products such as transport with over 30,000 employees in 68 countries around the world- and discussed on possible collaborations in the fields of energy transition and circular economy from a regional perspective. De-carbonisation means reducing and compensating for the emissions of carbon dioxide that causes climate change. Reports indicate that about 24 per cent of global carbon dioxide emissions come from the transport sector and therefore it needs de-carbonization. The company’s activities range from the development of new energy solutions to the more traditional exploration and production of hydrocarbons. The activities also include the refining and marketing of oil products and biofuels, generation and commercialization of electricity to the production of renewable energy, development of chemical and bio-based products and environmental activities. Rwanda is ready to work with the firm on sustainability projects in energy, conservation and other areas of the green economy in Rwanda and the region, Rwanda Development Board said last year. In April, the Italian firm and the Government of Rwanda, signed a memorandum of understanding on cooperation in the circular economy and decarbonisation value chain according to RDB. A circular economy is “a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. The parties will develop a roadmap to pursue key business opportunities in the energy transition. The energy transition is a pathway toward transformation of the global energy sector from fossil-based to zero-carbon by the second half of this century. Zero carbon means that no carbon emissions will be produced from a product or service. The agreement signed this month aims to identify collaborative opportunities in circular economy, agriculture, forestry, innovation and digital information technology. Under the terms of the agreement, the two parties will evaluate the feasibility of circular economy projects focused on collecting used cooking oil and waste oils, waste management, valorisation and recycling. Other fields of interest are agriculture, especially bio-feedstock production and the transformation into decarbonised products. Generation of carbon credits The fields of interest also include forestry, especially forest conservation and generation of carbon credits through a wide range of initiatives, such as reducing carbon dioxide emissions from the wood-fuel value chain and other service activities. Carbon credit on carbon market is a permit which allows a country or organization to produce a certain amount of carbon emissions and which can be traded, The carbon market would allow nations to finance carbon-cutting projects in other countries and count the avoided emissions towards their own climate targets. Other sectors of cooperation under the agreement include innovation and digital information technology targeting circular economy, agriculture, forestry, off-grid energy, and other business areas, such as sustainability, health, safety, security and environment. The deal aligns with Rwanda’s goal to fast-track economic development by enabling private sector growth and Eni’s commitment to increasing energy efficiency in African countries, leveraging agro-industrial projects in a sustainable framework. Commenting on the signing, RDB Chief Executive, Clare Akamanzi said: “The government of Rwanda is committed to working with the private sector to ensure sustainable development, which is critical for present and future generations. The partnership with Eni boosts the achievement of this goal. We are hopeful that together we will implement tangible actions that will ensure improved quality of life for our people.” Luigi Ciarrocchi, CCUS, Forestry and Agro-Feedstock Director at Eni said that thanks to the agreement, they will develop a solid roadmap to deliver on the energy transition in areas where both Eni and Rwanda are at the forefront. “The business model we are willing to implement in Rwanda focuses on long-term value creation for all stakeholders, combining economic, financial and environmental sustainability, to improve communities’ quality of life and foster the country’s development in line with the United Nations Sustainable Development Goals,” he said. Eni’s business model focuses on long-term value creation for all stakeholders, combining economic, financial and environmental sustainability to contribute to the United Nations Sustainable Development Goals. To this end, Eni is committed to promoting more rational use of fossil sources and greater recourse to circular and renewable sources in compliance with the provisions of the Paris Agreement.
