Galp has formally joined the environmental, social and government (ESG) metrics of the World Economic Forum (WEF), thus becoming the first Portuguese company to align with a business community focused on creating sustainable value and responding to the most pressing challenges of modern societies.
Aware of the urgency of adapting the planet's resources to the needs of citizens and companies, the WEF has accelerated, in recent years, a series of debates and initiatives aimed at fostering the concept of “stakeholder capitalism”. The main objective is to place the premises of sustainability at the centre of the actions and decisions of large corporations, thus ensuring that today's options do not jeopardise the future of the next generations.
By becoming a signatory to the metrics of “stakeholder capitalism”, Galp joins a community of companies that promote an effort to provide the market with concise, consistent, and comparable metrics and disclosures for the creation of value shared by all stakeholders. As early as 2021, Galp reported its non-financial information in line with the WEF disclosure metrics and recommendations.
ESG metrics stipulate a wide range of data recommendations to be disclosed in areas as diverse as purpose, strategy, boards of directors’ composition, environmental and social performance, among others, in order to allow to compare business and ESG performance.
This is, therefore, a movement that seeks not only to commit the business community through the best governance practices, but also to involve shareholders, investors, NGOs, regulators, Governments, citizens and consumers, in the global objective of reducing the impact of our footprint and to create sustainable value for all.
Galp's observance to these metrics is another step that embodies the Company's strong commitment to best practices for creating sustainable value for all stakeholders, as recognised by independent entities and assessments such as the Dow Jones Sustainability Indices (DJSI), the Climate Disclosure Project (CDP) or Bloomberg's Climate Transition Scores.