The company is investing in reforestation projects to offset some 55,000 tons of CO2, the equivalent of planting 330,000 trees.
Pioneering initiative in Spain, promoted by Cepsa’s Direct Sales activities. The company has decided to offset some 55,000 tons of CO2 from the fuel oil consumed by its residential customers this winter, the equivalent of planting 330,000 trees.
In particular, the company will finance several projects for reforestation and conservation of the forest mass that will allow the removal of CO2 from the atmosphere in order to fulfill its commitment, collaborating on several environmental initiatives that will be developed for the most part in Spain .
Several of these projects will be carried out in areas hit hard by the spate of forest fires this summer, such as Vilardevos, in the province of Ourense, and Hoyo de Pinares, in Ávila.
All diesel heating products are included in this campaign and it is Cepsa that takes the charge, without passing on any costs to its customers. These will have the guarantee that the CO2 offsetting certificates are approved by an external entity, in addition to being able to follow each of the projects individually through the website www.cepsa.esgasoleosquecompensan, and even have the opportunity to visit them.
“Cepsa’s goal is to generate a positive impact on our environment. That’s why we work every day to decarbonise our customers’ energy needs. This action will allow us to reduce the carbon footprint of our heating energy products while continuing to make progress in large-scale production of green molecules,” explains Carlos Barrasa, Director of Commercial & Clean Energies at Cepsa.
The initiative is not individual. It is part of the company’s 2030 strategy, Positive Motion. A roadmap with which it aims to reduce its CO2 emissions (scope 1 and 2) for that year by 55% compared to 2019 and to achieve net zero emissions by 2050.
As for the carbon intensity index of its products (scope 1, 2 and 3), the company’s target is to reduce it by 15% to 20% by 2030.
Recently, the company has signed the extension of the term of its syndicated credit line of 2,000 million euros to September 2027 with 18 financial entities and has agreed for the first time that its economic conditions will be linked to compliance with environmental and social indicators.
Source: La Verdad
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