The Global Compact

United Nations Global Compact

We commit ourselves to respecting and protecting the ten universal principles set out by the United Nations.

Galp is committed to upholding these principles by establishing policies, setting goals, and implementing and monitoring measures.

The ten universal principles related to human rights are divided into four practical dimensions:

• Human rights;
• Labour practices;
• Environmental protection;
• Anti-corruption.

 Learn more about the Global Compact.

Equality Means Business

Galp has subscribed Women's Empowerment Principles - Equality Means Business (WEP), a joint initiative of the United Nations Global Compact and the United Nations Development Fund for Women to promote gender equality.

As part of its commitment to promoting gender equality, Galp has publicly expressed its commitment to the implementation of the seven Women’s Emporwement Principals.

With this initiative, the United Nations intends that companies that subscribe to the principles establish high-level corporate leadership for gender equality; treat women and men fairly at work; ensure the health, safety and well-being of all workers. Promoting education, training and professional development for women is among the principles of WEP. Business will also need to promote equality through a range of initiatives and to measure and disseminate progress indicators towards gender equality.

Equality Business Forum

Promoted by the Commission for Equality in Labour and Employment (CITE), this initiative commits Galp into developing actions that promote gender equality.

We joined the Business Forum for Equality in 2014 with a view to developing the principles of equality and non-discrimination between men and women at work and in employment, as well as reconciling work, personal and family life.

We intend to achieve improvements in the scope of sustainable practices, organizational justice and the satisfaction of all our employees.

Click here to learn more about The Commission for Equality in Labour and Employment (CITE), and our Plan for Equality 2020.

Code of Conduct - Companies and HIV

In consolidating our commitment to social responsibility we underwrote, in 2012, the Code of Conduct – Companies and HIV.

We reinforce our commitment to the values of non-discrimination and equal rights of workers, regardless of their health condition.

This Code of Conduct, framed within the principles adopted by the UN and the International Labour Organization Code of Conduct, enshrines:

• The non-discrimination of people living with the infection with HIV (Human Immunodeficiency Virus);
• The equal access to prevention and treatment of HIV;
• The dissemination among workers of information concerning the infection;
• The recognition that taking tests to detect the infection is an important public health measure, which cannot affect the employees’ admission or progress in their careers.

Zero Routine Flaring

In 2015, as an exploration and production operator, we joined the Zero Routine Flaring by 2030 initiative.

Our goal is to scale routine gas flaring to zero in new E&P projects. In 2015, we had the opportunity to strengthen this commitment by joining World Bank initiative as an E&P activity without routine flaring.

The goal is to reduce gas flaring (in normal operation), as it contributes to CO₂ emissions and other pollutants. This objective extends until 2030 and the initiative relies on the cooperation of several institutions, governmental entities and companies within our sector.

See the official World Bank announcement. 

CDP

We support the Carbon Disclosure Project (CDP) initiative - a platform that disseminates important environmental information for impact management and environmental protection.

This support reflects our commitment to meeting future energy needs whilst minimizing the carbon intensity of our activity and protecting the environment.

Galp remains amongst the global leaders in corporate sustainability according to CDP’s 2018 scoring which distinguished the Company for its water management actions and information provided on climate risks and low carbon opportunities.

The Company is one of 42 companies worldwide included on leadership rankings for taking action in both water security and climate change, being the only one within the Oil & Gas sector to achieve an A or A- score in both categories.

This achievement is the recognition of Galp’s commitment to continuously improve the performance of its operations through a more efficient and sustainable use of natural resources, while ensuring the compliance with environmental, safety and corporate governance best practices.

TCFD

Galp committed to energy and climate challenges.

“Galp, as an integrated energy player, is committed to provide energy in an efficient and sustainable manner. Aware of the challenges that climate change represents, Galp affirms its commitment to support the voluntary recommendations of the industry-led Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD).”

Carlos Gomes da Silva, Galp CEO

Apart from fulfilling our climate change policy, this is a powerful demonstration of Galp’s commitment to promote a more balanced relation between satisfying energy needs and minimizing our activity’s carbon intensity, ensuring transparency around climate-related information that will facilitate more informed business and investment decision-making.

Galp is committed to:

• Invest in new technologies, processes and solutions (integrated and SMART), in order to improve the efficiency of own and third-party activities, reducing the energy intensity and GHG emissions, promoting a low-carbon economy in the O&G sector and in other sectors of the economy;
• Include the carbon price in decision-making, particularly in new investments, in order to reduce risks and maximize associated opportunities;
• Promote the concept of life cycle to identify opportunities, maximize energy efficiency and minimize the carbon footprint of activities and products.

Galp supports the prosecution of a global and effective agreement. In this way, we will continue to contribute constructively to the development of appropriate measures to overcome the climate and energy challenges, seeking a sustainable commitment and supporting the adoption of a carbon-reduction strategy based on a single emissions market, cost-effective and long-term sustainable, shared worldwide and transparent to the society.

See here the table showing the alignment with the TCFD recommendations.

We Mean Business

We joined the We Mean Business coalition, which is part of NAZCA Tracking Climate Action initiative of the United Nations Framework Convention on Climate Change (UNFCC).

This platform, made up of a group of organizations working with the business sector and investors worldwide, promotes the transition to a low carbon economy in order to ensure sustainable economic growth. The platform also promotes proactive climate action, encouraging the creation of new policy landmarks within the context of climate change.

At Galp, we are committed to the following objectives:

• Putting a price on carbon: recognizing this practice as an essential and strategic tool to minimizing the activity’s carbon intensity.
• Committing to responsible corporate engagement in climate policy: acknowledging corporate engagement as a crucial factor in ratifying and complying with the Paris Climate Agreement.
• Implementing the recommendations of the Task Force on Climate-related Financial Disclosures: assuming the growing importance of climate information in investment practices and following recommendations for reporting climate-related financial information.

Find more about this initiative.

Roadmap for Carbon Neutrality

The Portuguese Government launched this initiative with the aim of studying the technical and economic viability of trajectories for reducing greenhouse gas (GHG) emissions in Portugal by 2050, for a competitive and low-carbon economy, in line with Portugal's commitment of achieving carbon neutrality by 2050.

Galp has actively followed this initiative as a stakeholder. Following an invitation from the Portuguese Government, Galp participated in the discussion of the working groups for the energy and mobility sector and presented its formal opinion about this Roadmap in the Public Consultation.

Learn more about this initiative

MEET 2030

MEET 2030 is a project coordinated by BCSD Portugal, in collaboration with Instituto Superior Técnico (IST), and other associated companies. It has also the participation of other stakeholders, including public entities and other national and international organizations.

Meet 2030 contributes to the implementation of the Paris Climate Agreement, which aims to achieve a zero-carbon economy in the second half of the century.

Galp promoted and led the Meet 2030 project, with the following objectives:

• Create scenarios for Portugal to achieve carbon neutrality in 2030;
• Identify potential new economic activity sectors, innovation in processes and products, as well as the competitive advantages for companies to maintain medium and long-term sustainable growth;
• Identify solutions with higher added value and contributing to a policy action that helps define strategic priorities both at a national and international level.