Repsol Sinopec Brazil Unveils 2024 Sustainability Plan

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Published on 14/06/2024 at 20:34

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Focus on Decarbonization, Fiscal Governance, and Inclusion

Repsol Sinopec Brasil (RSB) announced its ambitious 2024 Sustainability Plan, with a strong focus on decarbonization, progress in fiscal governance practices, and the promotion of diversity and inclusion. This annual plan is based on the UN’s 2030 Global Agenda and the Paris Agreement, aligning with Repsol Group’s six sustainability guidelines: Climate Change, Environment, Innovation and Technology, Safe Operations, Ethics, and People.

Technologies and Renewable Energies

At the core of the plan is the development of new technologies for decarbonization and the use of renewable energies. RSB seeks to reduce emissions and advance fiscal governance practices, as well as stimulate socio-environmental initiatives and promote diversity and inclusion. “In addition to reaffirming our commitment to energy transition and decarbonization, the new plan represents a strategic opportunity to promote balance among economic, environmental, and social aspects, reinforcing our role in building a more inclusive future and a more decarbonized economy,” stated Alejandro Ponce, RSB’s CEO.

Following Repsol Group’s approach, the plan outlines short, medium, and long-term actions. Among them, advancements in Research and Development in the decarbonization segment stand out, such as the DAC Program, which focuses on direct CO2 capture from the air. RSB also intends to expand its renewable energy solutions, developing technologies for greater accuracy in identifying offshore wind potential.

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Open Innovation and Emission Reduction

RSB intends to expand its operations in open innovation, providing opportunities for new partnerships with startups and innovation hubs. In the operational segment, the company will strengthen its collaboration with operational partners in developing action plans to reduce emissions in assets. Furthermore, it will continue implementing environmental and social sustainability criteria in supplier management.

The company is committed to actively participating in forums and tax cooperation programs, aiming to increase transparency and speed in tax legislation. An example of this is participation in the testing phase of the Confia Program, a pioneering initiative by the Federal Government to enhance tax compliance in the country. The program brings together companies from various sectors to improve the collection and allocation of federal taxes, benefiting society.

Diversity and Inclusion in Corporate Culture

Diversity and inclusion are central elements in RSB’s corporate culture. With 38% of women among its employees and 46% in executive leadership, the company promotes new opportunities for female participation in leadership positions. Additionally, it conducts actions to enhance employees’ understanding of diversity and inclusion, strengthening initiatives of the D&I Committee, which includes the participation of volunteer employees.

In support of the UN’s Ocean Decade, RSB fosters initiatives for the protection of the ocean and natural and cultural heritage. Among them is the Dream Challenger Project, which provides access to surfing sports for people with disabilities (PWD), and the Bourbon Paraty Festival, which receives support from the company for the second consecutive year, boosting sustainable tourism in the city, a UNESCO World Heritage site.

Repsol Sinopec Brasil: Presence and Innovation

Present in Brazil for 26 years, Repsol Sinopec Brasil is one of the largest oil and gas producers in the country. Since 2010, formed by a joint venture between the Spanish Repsol (60%) and the Chinese Sinopec (40%), the company has become one of the largest investors in the sector in the country over the last decade. RSB was the first to participate in the market opening in 2000, in the Albacora Leste field, and has a strong presence in world-class assets, especially in the pre-salt layer. The Raia Project, one of the largest natural gas suppliers in the country, is a highlight, essential for the energy transition and support for intermittent renewable energies like solar and wind.

With its 2024 Sustainability Plan, Repsol Sinopec Brasil reaffirms its commitment to sustainability, innovation, and social responsibility, aligning with global goals and contributing to a greener and more inclusive future.

Source: Julianna Approach

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Repsol Sinopec Brazil Unveils 2024 Sustainability Plan

Focus on Decarbonization, Fiscal Governance, and Inclusion

Technologies and Renewable Energies

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Open Innovation and Emission Reduction

Diversity and Inclusion in Corporate Culture

Repsol Sinopec Brasil: Presence and Innovation

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Repsol Sinopec Brazil Unveils 2024 Sustainability Plan

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At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

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