Climate Change Data

Compaiiia Espanola de Petroleos, S.A. and Subsidiaries

Climate Impact & Sustainability Data (2021, 2023)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Sustainability
  • Climate Change
  • Circular Economy

Environmental Achievements

  • Launched a new range of sustainable products using renewable and recycled raw materials.
  • Introduced certified renewable raw materials to produce LAB (linear alkylbenzene) for biodegradable detergents.
  • Pioneered the manufacture of phenol from renewable and recycled raw materials.

Social Achievements

  • Not disclosed

Governance Achievements

  • ISCC+ certification obtained for Puente Mayorga and Palos de la Frontera plants.

Climate Goals & Targets

Long-term Goals:
  • Achieve a green transition and provide sustainable solutions.
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Launch additional products from sustainable origins within the next few years.

Environmental Challenges

  • Not disclosed
Mitigation Strategies
  • Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Using renewable and recycled raw materials

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Development of energy-efficient products and processes

Reporting Standards

Frameworks Used: ISCC+

Certifications: ISCC+

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • NextLab and NextPhenol product lines

Awards & Recognition

  • Not disclosed

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:4.9 million tCO2eq (Scope 1 & 2) and 58.0 million tCO2eq (Scope 3) in 2023
Water Consumption:15,240 thousand m3 in 2023
Waste Generated:70.9% recovered in 2023

ESG Focus Areas

  • Climate Change
  • Environment
  • Social
  • Governance
  • Circular Economy
  • Supply Chain
  • Human Rights
  • Community Investment
  • Workforce Diversity
  • Safety

Environmental Achievements

  • Reduced Scope 1 and 2 carbon emissions at an operational level by 55% by 2030 compared to 2019.
  • Reduced the carbon intensity of the energy sold by between 15% and 20% by 2030 compared to 2019.
  • Commissioning of an ultrafiltering and reverse osmosis plant at the San Roque Energy Park to reuse 20% of discharged water and reduce municipal water withdrawal by more than one million m3.
  • 125 thousand tonne increase in Energy Parks’ bio-material co-processing capacity.
  • Sale of first shipments of HVO from La Rábida Energy Park.
  • First energy firm in Europe to operate a hybrid diesel-electric bunker barge for shipping fuel (reducing fuel consumption by 30% and carbon emissions by 35%).

Social Achievements

  • Hired over 1,000 professionals to reinforce green shift in the last two years.
  • Renewed Cepsa Gow loyalty programme, adding new discounts and benefits.
  • More than 500 Cepsa service stations feature solar panels installed by Redexis.
  • Strategic alliance with Fertiberia to boost green hydrogen production and decarbonise industry in Huelva.
  • Joint venture with Bio-Oils for construction of largest second-generation biofuel plant in southern Europe (€1.2 billion investment).

Governance Achievements

  • Sale of Exploration & Production assets in Abu Dhabi to TotalEnergies.
  • Initiated process of disposing of other assets in Latin America.
  • Board of Directors approved the company's "Positive Motion" 2030 strategy, which includes decarbonisation targets.
  • Climate Change Risk map updated in 2023.
  • Investment grade rating confirmed in 2023 by Fitch, S&P and Moody's.

Climate Goals & Targets

Long-term Goals:
  • Achieve net-zero emissions before 2050.
Medium-term Goals:
  • Generate more than half of EBITDA from sustainable green businesses by 2030.
  • Develop a portfolio of 4.5 GW of renewable solar and wind power by 2030.
Short-term Goals:
  • Reduce Scope 1 and 2 GHG emissions by 55% by 2030 (from 2019 baseline).
  • Reduce carbon intensity of energy sold by 15-20% by 2030 (from 2019 baseline).

Environmental Challenges

  • Persistent global challenges, including geopolitical conflicts and energy price volatility.
  • Adverse impact of the windfall tax levied on energy companies.
  • Uncertainty around regulations, social demand and technology.
  • Increasing volatility of commodity prices.
  • Disruption to shipping routes due to armed groups harassing commercial vessels in the Red Sea.
Mitigation Strategies
  • Positive Motion strategy focusing on sustainable green businesses.
  • Conservative financial policy maintaining sufficient cash and credit lines.
  • Active management of financing, renegotiating existing bank financing and adding new facilities.
  • Hedging policies to minimize impact of market risks (commodity price risk, foreign exchange risk, interest rate risk).
  • Ongoing sensitivity analysis to monitor market risk exposure.

Supply Chain Management

Responsible Procurement
  • Due diligence in procurement and acquisition processes of industrial equipment.

Climate-Related Risks & Opportunities

Transition Risks
  • Changes in commodity prices
  • Impact of energy transition on demand for traditional products
  • Increasingly rigorous environmental regulations
Opportunities
  • Development and expansion of low-emission products and services
  • Emergence of new products such as sustainable fuels and energy transition products and services

Reporting Standards

Frameworks Used: GRI, TCFD

Certifications: ISO 14001, ISO 50001, ISCC+

Sustainable Products & Innovation

  • NextLAB ranges (sustainable LAB)
  • NextPhenol
  • Renewable isopropyl alcohol
  • HVO (100%-renewable diesel)
  • SAF