We carry out our energy and carbon inventories based on the guidelines of GHG corporate inventories for the Oil and Gas sector, which have been established by different associations.
The associations that have provided these guidelines are IPIECA (International Petroleum Industry Environmental Conservation Association), API (American Petroleum Institute), and IOGP (International Association of Oil & Gas Producers).
CO2 emissions are classified as being either direct or indirect. Direct or scope 1 emissions are those stemming from sources owned or controlled by by a company. Examples of direct emissions include combustion emissions, process emissions and fugitive emissions. Indirect emissions are those emissions that come from sources that are owned or controlled by another company. Indirect CO2 emissions (scope 2) inventory takes into account the emissions associated with the purchase of electricity and steam.
Taking into account operational control criteria, our direct and indirect emissions in 2015 were as follows:
|Business||Direct CO2 emissions (t)||Direct CH4 emissions (t)||Direct N2O emissions (t)||Direct CO2 equivalent emissions (t)||Purchased electricity (MWh)||t CO2 emissions from purchased electricity||Purchased steam (GJ)||t CO2 emissions from purchased steam||Indirect CO2 equivalent emissions (t)||Total CO2 equivalent emissions (t)|
|EXPLORATION AND PRODUCTION||5,951,466||135,208||186||8,848,637||111,469||24,378||0||0||24,378||8,873,015|
Every year we have an external company verify that our greenhouse gas inventories meet the most demanding quality and precision regulations.
The International Standard ISO 14064-1 provides information on the specifications and tools necessary to validate and verify the global GHG emissions at the Company and project level. It specifically states the requirements needed to design and draw up the GHG inventories and describes how to quantify and provide information about emission reduction.
We believe that adopting this standard will:
As part of the carbon strategy, we have decided to submit the corporate greenhouse gas inventory and actions directed toward reducing GHG to the verification of the International Standard ISO 14064.
We also want to extend this practice to the new assets acquired from Talisman, progressively incorporating them to the envisaged verification plan. In 2015 we verified 66% of the Company's total direct emissions according to the International Standard ISO 14064-1, a value that would be as high as 98% if we did not take the new Talisman assets into account. It is also important to highlight the increase in the percentage of assets in which the emissions of CH4 and N2O have been verified with this Standard, as carried out in Refining Spain, Refining Peru, Chemicals and in the assets of the Upstream in Casablanca (Spain), Teak, Poui and Samaan (Trinidad and Tobago), Margarita (Bolivia), Block 16 (Ecuador), and Quiriquire Gas (Venezuela).
The GHG reports include detailed information about the verification of inventories and actions aimed at reducing GHGs at different facilities. This process of verification has resulted in the acquisition of verification statements on the emissions inventory of said facilities, issued by the verifying entities and included in these reports as appendices.
Within our scope 3 emissions, the following CO2 emissions are considered relevant: indirect CO2 emissions associated with the purchase of goods and services, those associated with the transportation and distribution of our products and, most significantly, those derived from the marketing of said products.
Our scope 3 emissions in 2015 were as follows:
|Scope 3 emissions in 2015 (millions of tonnes)|
|Emissions associated with the purchase of goods and services||7.9|
|Emissions associated with the transportation and distribution of products||1.5|
|Emissions arising from the marketing of products||110.8|
At Repsol we calculate our carbon footprint by analyzing each product's impact on all the stages of the life cycle and verify our calculations under technical specification ISO 14067 to rigorously validate our work in accordance with the most demanding international standards.
Calculating our carbon footprint allows us to ascertain the impact of our products with respect to greenhouse gases and take actions to reduce it by adapting them to our society's environmental challenges.
Additionally, it helps us to know and enhance the performance of our value chain and to identify improvement areas to provide our clients with increasingly competitive and sustainable products.
We are committed to offsetting the carbon footprint of some of our activities and events.
The following table shows the offset tonnes and the carbon credits acquired to offset them:
|Event 2015||Tonnes of offset CO2||Credits|
|Annual General Meeting||67||Credits generated by the "La Venta II" wind energy project (Mexico)|
|MotoGP World Championship (Repsol teams' participation)||2,604||Credits generated by the RED project (social)|
|FIM CEV Repsol: International Junior Motorcycling Championship for training young riders; Repsol is the main sponsor||582||Credits generated by the RED project (social)|
We have verified the tonnes of CO2 of each of the events with an independent organization.
We believe it is essential to have sound climate change governance systems that promote accountability and transparency.
The ability to respond to the needs and expectations of our stakeholders is a key element for us.
We voluntarily participate in sustainability indexes such as the Carbon Disclosure Project (CDP), FTSE4Good, MSCI, Sustainalytics, Vigeo, etc., which allow us to demonstrate transparency not only to the financial markets but also to other stakeholders.
Carbon Disclosure Project (CDP)
It should be noted that in 2016 we reached the leadership group for our climate change strategy in the Climate Disclosure Project (CDP) index with a score of A-. Our position at this level means that the Company is carrying out excellent carbon footprint management, fulfilling its reduction objectives, and starting programs to reduce emissions throughout our value chain, implementing the best practices in the field of environmental management.
Since we began participating in 2006, we have always been positioned among the best companies of the sector; we have been included in the group of leaders seven times in the last ten years. Our scores reflect the effort made to improve and demonstrate the commitment of our managers and employees, positioning us as a leading company and a reference in transparency and action in climate change. The table below shows Repsol's results since 2010:
* In 2016 companies stopped receiving a numerical score. Transparency and performance are integrated into a single evaluation, positioning the companies between the A band (leadership group) and the D band.