12/10/2020 | Environment

Galp raised to “leadership level” on CDP’s annual review of corporate climate-change practices

The Climate Disclosure Project (CDP) ranked Galp as one of the Oil and Gas-processing companies that most-effectively enacted current climate-related best-practices. Galp achieved Leadership level and an “A-” rating, higher than both the European average of “C” and the Oil & Gas processing sector’s “B” average.

Galp was named by the Climate Disclosure Project (CDP) as one of the Oil and Gas processing companies that most effectively enacted climate change-related best practices, improving on the previous year’s record and achieving “Leadership A-” level.

The score beats the European regional average of “C” across all sectors, as well as the “B” average for the Oil & Gas Processing sector, in which only one out of three companies attained Leadership level. Galp stood out for the integration of climate risks and opportunities in its business strategy and financial planning and for its emission-reduction initiatives.

This result reflects the way Galp aligning its portfolio with low-emission business models, products and services. Galp achieved top “A” scores in the categories of Governance, Opportunity Disclosure, Risk Disclosure, Risk Management Processes, Value Chain Engagement and Scopes 1, 2 and 3 GHG emissions.

CDP is a not-for-profit organization that runs the leading global disclosure system for the management of environmental impacts. It is used by worldwide investors and money-managers with about $106 trillion in assets under management.

Last month, Galp was once again titled the most sustainable company in Europe in its industry and the third best in the world during 2020 by the Dow Jones Sustainability Indices (DJSI), thus repeating the best score in its nine-year presence in these indices.