To design a comprehensive plan that covers the ESG dimensions and delivers positive impacts across the business, we need to understand what is driving sustainability and what is Galp’s approach to it so far, to anticipate our future needs and close the gap to our ambition.
On this note, we cannot talk about sustainability without considering the UN’s Sustainable Development Goals, and the expectations and requirements from regulators, investors, customers, and other stakeholders, who are increasingly driving the pressure towards sustainability compliant companies.
Starting in 2022, Galp has been working together with people across all the Organisation, in a series of workshops and dedicated sessions with each business units, to define its key 2030 sustainability ambitions and an action plan for the 2023-2025 period. A comprehensive sustainability diagnosis report has supported these discussions - where Galp is today, results of a context and trends analysis, key insights of a benchmark analysis performed to our peers’, results of the materiality assessment - where we used the different lenses to identify what are our main challenges, key ambitions and the initiatives that we have to commit to in order to improve our sustainability performance.
Our revised Sustainability Roadmap focuses essentially on five foundations, each one converted into 2030 ambitions that are now our priority, being considered in every business decision and having the full support and ownership of our executive committee.
In order to make this happen, we have already started to define a short-term action plan (2023-2025), in a joint effort with all business units and corporate centre, that aims to achieve ambitious targets and implement initiatives on the various ESG related topics.