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Repsol Sinopec Brasil presents Sustainability Plan 2024

Written by Corporate
Published 14/06/2024 às 20:34
Repsol Sinopec launches Sustainability Plan 2024
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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, advancement in fiscal governance practices, and promotion of diversity and inclusion. This annual plan is based on the UN Global Agenda 2030 and the Paris Agreement, aligning with the Repsol group's six sustainability guidelines: Climate Change, Environment, Innovation and Technology, Safe Operation, Ethics and People.

Technologies and Renewable Energies

At the heart of the plan is the development of new technologies for decarbonization and the use of renewable energy. RSB seeks to reduce emissions and advance fiscal governance practices, in addition to stimulating socio-environmental initiatives and promoting diversity and inclusion. “In addition to establishing our commitment to the energy transition and decarbonization, the new plan represents a strategic opportunity to promote balance between economic, environmental and social aspects, reinforcing our role in building a more inclusive future and a more decarbonized economy,” said Alejandro Ponce, CEO of RSB.

Following the Repsol group's line, the plan foresees short, medium and long-term actions. Among them, the advances in Research and Development in the decarbonization segment stand out, such as the DAC Program, for direct capture of CO2 from the air. RSB also intends to expand its solutions focused on renewable energy, developing technologies for greater accuracy in identifying offshore wind potential.

Open innovation and emissions reduction

RSB intends to expand its operations in open innovation, providing opportunities for new partnerships with startups and innovation hubs. In the operations segment, the company will reinforce its work together with operating partners in creating action plans to reduce emissions in assets. Furthermore, it will continue to implement environmental and social sustainability criteria in supplier management.

The company is committed to actively participating in tax cooperation forums and 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 improve tax compliance in the country. The program brings together companies from different sectors with the aim of improving the collection and allocation of federal taxes, benefiting society.

Diversity and inclusion in business culture

Diversity and inclusion are central elements in RSB's business culture. With 38% of women among its employees and 46% in executive leadership, the company promotes new opportunities for female participation in leadership positions. In addition, it carries out actions to expand employees' knowledge about diversity and inclusion, strengthening initiatives of the D&I Committee, which has the participation of volunteer employees.

In support of the Ocean Decade, promoted by the UN, RSB promotes initiatives to protect the ocean and natural and cultural heritage. Among them, the Dream Challenger Project stands out, which provides access to the sport of surfing 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, UNESCO 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 in the last decade. RSB was the first to participate in the opening of the market in 2000, in the Albacora Leste field, and has a strong presence in world-class assets, especially in the pre-salt. The Raia Project, one of the largest suppliers of natural gas in the country, is a highlight, essential for the energy transition and support for intermittent renewable energies such as solar and wind.

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

Source: Julianna Approach

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