Striving to strike a balance between meeting the energy needs of society and minimising the carbon intensity of the activities conducted to satisfy this demand is no easy challenge, but Galp is fully aware of the importance of the issue and is committed to achieving it.
Bearing this goal in mind, Galp has taken the path towards carbon neutrality, one of the most decisive steps of which is the recently announced strategic plan geared to the gradual decarbonisation of the company's portfolio. This plan includes long-term goals for the reduction of carbon intensity, aligning its portfolio with the vision of carbon neutrality in Europe by 2050 and committing to reducing the carbon intensity of its activities by at least 15% by 2030 (with 2017 as the reference year).
The company's ESG (Environmental, Social and Governance) performance is consistently acknowledged by the major independent institutions in terms of sustainability, and Galp is proud to possess a portfolio with a series of high-potential assets, which stands out in the sector due to its excellent competitiveness and remarkable environmental performance.
Furthermore, Galp believes that this firm commitment to sustainability needs not only to be declared, but also measured and confirmed in a specific manner, which is why the company has also undertaken to monitor its carbon footprint on a regular and systematic basis. A methodology was created for the purpose of calculating carbon intensity, validated by the pertinent international institutions, consisting of a well-to-wheel life cycle approach that takes into account all emissions related to the production, processing and delivery of energy to Galp's end consumers, in addition to the end use of the energy. According to the revised methodology, Galp's carbon intensity in 2017 was 78gCO2e/MJ.