How we select our projects
In the selection phase of activities and projects that will enable the production of carbon offset credits, Galp takes into consideration a robust set of quality criteria.
Carbon offset credits/offsets can be produced by various types of activities and projects that either reduce or capture/sequester greenhouse gas emissions.
These reductions and removals can result from:
- natural-based solutions: such as emissions avoided by improvements in ecosystem and forest management processes or CO2 removal by reforestation or afforestation projects) or
- technology-based solutions: such as emissions avoided by replacing fossil fuels with renewable energy or replacing polluting equipment with more efficient ones, or CO2 removals through direct air capture or carbon capture and sequestration using bioenergy).
In order to ensure the high quality of the credits, Galp invests in the purchase of carbon credits verified and certified by internationally credible and recognised entities, such as the Verified Carbon Standard (VCS) or Gold Standard.
In addition, we privilege projects located within the geographical areas in which Galp operates and we always seek that these have associated social and/or environmental co-benefits allowing us to extend our positive impact on local communities, in addition to the associated reduction of emissions, in line with the United Nations Sustainable Development Goals for 2030.
All projects from which Galp purchases emission offset credits must ensure that the reduction of emissions is real, unique, verifiable, additional (i.e., that it would not have taken place without the financing of the project through the sale of emission offset credits) and permanent (the sequestered emissions are not released back into the atmosphere).