Cepsa, one of the three best companies in its policies and sustainable performance
Moody's recognizes Cepsa's “advanced level” in terms of sustainability, placing it in the highest category.
Cepsa reaches 65 points, compared to the 61 obtained in 2022, an increase that responds in part to the actions and good practices framed in its 2030 'Positive Motion' strategy, with which the company aspires to become a key benchmark in the energy transition, leading the production of green hydrogen and biofuels and being a key player in sustainable mobility in Spain and Portugal.
Carmen de Pablo, CFO and Director of Strategy and ESG at Cepsa, highlighted: “Our rating in the Moody's evaluation, considered one of the most relevant by the financial community, allows Cepsa to continue advancing, identifying growth opportunities and reinforcing its commitments to sustainable development”.
De Pablo added that “according to our Sustainability Plan, presented in the first quarter of the year, we have a clear roadmap to continue incorporating the best ESG practices in each of our actions and thus provide shared value to the communities where we are present”.
Cepsa's Sustainability Plan, entitled Promoting Positive Impact, is based on eight pillars with which the company includes a series of commitments such as reducing its scope 1 and 2 CO2 emissions by 55% by 2030, 20% of freshwater withdrawal in water stress areas by 2025, or increasing the intensity of the circularity of waste from its operations by 50% to 2030, compared to 2019 levels.
5,000 companies evaluated
Moody's has developed this ESG evaluation with the aim of assessing the management and capacity of companies in the face of sustainability risks and opportunities, as well as their progress in all matters related to this area.. The rating agency has evaluated nearly 5,000 companies taking into account 24 aspects of ESG.
This type of independent assessment demonstrates Cepsa's strong commitment to sustainability and its stakeholders. In this sense, recently, EcoVadis, the reference rating used by companies to assess the sustainability of their supply chain, has also recognized the energy company with the gold medal, placing it among the 3% of the best companies in its sector worldwide.
A strategy structured by ESG criteria Cepsa considers the management of ESG aspects key. Within the framework of its 2030 Strategy, Positive Motion, Cepsa aspires to reach zero net emissions before 2050. To do this, the company will invest between 7 and 8 billion euros until 2030, of which close to 60% will be for sustainable businesses linked to the production of green hydrogen and biofuels.