In 2022, the company was in a leading position in the most relevant global ESG ratings awarded by Sustainalytics, S&P Global, Moody’s, Clarity AI and CDP (in the categories of climate change and water security).
This recognition shows how Cepsa’s sustainability management is enabling the company’s ‘Positive Motion’ strategy to become a benchmark in the energy transition.
Cepsa has presented its Sustainability Plan, ‘Driving Positive Impact’, to drive the implementation of its 2030 strategy and generate a positive impact inside and outside the company.
International rating agencies specialising in the management of environmental, social and governance (ESG) aspects recognise Cepsa’s sustainability management, placing the company in a leading position in the energy sector. These indicators reflect Cepsa’s readiness to implement its 2030 Cepsa ‘Positive Motion’ strategy, through which it aims to reduce emissions, increase diversity and become a leader in sustainable mobility and energy in Spain and Portugal within the decade.
These ratings are designed to measure a company’s ability to manage long-term sustainability risks, as well as its performance in addressing sustainability issues.
“These market-leading ratings reinforce our sustainability commitments, including achieving zero net emissions by 2050. We have integrated sustainability as a core element of our daily business, guided by our ‘Positive Motion’ strategy, whereby we will invest between €7 billion and €8 billion this decade to ensure that more than half of our EBITDA comes from sustainable businesses by 2030. These ratios show that we are on the right track.”
Carmen de Pablo – CFO and Head of Strategy and ESG at Cepsa
Minimising ESG risks
For the second consecutive year, Sustainalytics1 placed Cepsa in first place in its sector, being the only company to obtain a “low risk” rating. In recognising Cepsa as the best rated company in terms of ESG, Sustainalytics underlined that “the company has a low risk of suffering material financial impacts derived from ESG factors”.
S&P Global2 awarded Cepsa the category of “industry mover”, reflecting the highest score improvement in the sector, ranking it in the 95th percentile of its sector. For the first time, Cepsa has been included in the S&P Sustainability Yearbook 2023.
In its first year of participation, Moody’s3 recognised Cepsa’s “advanced level” (the highest possible category) in sustainability and placed it in the highest category in the sector.
Clarity AI4 ranked Cepsa number 1 in its sector and placed it in the “leading category” for its impact on sustainability.
Leaders in climate and water performance
For the third consecutive year, CDP5 has maintained Cepsa in the leadership category with an A- in both the climate change and water security questionnaires. The company obtained the highest score in its sector of activity.
Cepsa has ambitious sustainability commitments, overseen by the company’s ESG area, to ensure that environmental, social and governance issues are taken into account in all key decision-making. As a sign of its commitment, Cepsa announced last year the conversion of its €2 billion credit line into sustainable financing linked to carbon emission reduction and gender diversity targets, as well as the agreement reached with its syndicated banks to donate 100% of the interest adjustment to environmental and social projects.
Driving Positive Impact
Cepsa has launched its Sustainability Plan, ‘Driving Positive Impact’. Developed to drive the implementation of Positive Motion and generate positive impact inside and outside the company, this plan will ensure that key stakeholders have a clear understanding of Cepsa’s strategic direction and priorities, structured around eight pillars. Along with its goals of zero net emissions and gender diversity, Cepsa’s Sustainability Plan includes commitments to increase the circularity of its waste by 50% by 2030, initiate the production of green hydrogen by recycling wastewater and reduce freshwater extraction in water-stressed areas by 20% by 2025.