Water-related impacts cost business
As well as areas evaluating the impacts on natural capital, we monitor the water-related financial impacts at our most important industrial sites.
We consider three factors in this analysis:
- dependence on the availability and quality of water resources;
- sensitivity analysis to variation in water prices;
- savings resulting from the adoption of water reduction and reuse measures.
Screening of risks associated with water use
We periodically update the mapping of risks associated with the use of water in 100% of:
- our operations;
- the biodiversity protection and conservation areas;
- the surrounding areas of our operations.
This mapping is performed using the Global Water Tool for Oil &Gas - developed by the Global Oil and Gas Industry Association for Environmental and Social Issues (IPIECA) in collaboration with the World Business Council for Sustainable Development (WBCSD).
Areas of water scarcity
Only 4% of our operations are located in areas with water scarcity.
According to mapping using the GWT for Oil & Gas, only 4% of our operations are located in resource-poor areas. These areas only represent 0.07% of Galp's total water consumption.
In 2017, we updated this study ensuring the coverage and analysis of 100% of our operations and activity. Considering the most relevant sites, none are in areas with water risks, currently or potentially in the future.
Find out more detailed information about our Analysis of Risks Associated with Water Use.