Galp celebrates the offsetting of emissions equivalent to 670,000 kilometers traveled by car through the voluntary CO2 offsetting initiative included in the Mundo Galp loyalty program.

  • The Mundo Galp loyalty program offers users the option of offsetting 100% of the CO2 emissions corresponding to a 1,000 km journey
  • Galp contributes 50% of each offset
  • Clients offset through contributions to two carbon mitigation projects in Galicia and Brazil
  • The offsetting is done transparently thanks to the ClimateTrade blockchain platform whose API, which allows the client to monitor their positive impact, has been integrated into the Mundo Galp application

Madrid, September 12, 2022 – Galp celebrates the offsetting of emissions equivalent to 670,000 kilometers traveled by car, or 100 complete laps around Spain, through the voluntary CO2 offsetting initiative included in the Mundo Galp loyalty program.

The initiative, available since April 22, consists of offsetting CO2 emissions derived from 1,000-kilometre journeys made by Mundo Galp users, in the almost 600 service stations that make up the Galp Spain network. Through the Mundo Galp loyalty program, Galp offers users the option to offset CO2 through a contribution to two sustainable projects: one related to an environmental reforestation project in Galicia and another focused on renewable generation in Brazil.

The first project, consisting of forest restoration in Monte Vecinales, Galicia, is certified by the Ministry for the Ecological Transition and the Demographic Challenge of Spain and contributes to the Sustainable Development Goals (SDGs) 8 (decent work and economic growth), 10 ( reduced inequalities), 11 (sustainable cities and communities), 13 (climate action) and 15 (life on land). The second, the VTRM Renewable Energy wind project in Brazil, prevents the emission of an average of 439,950 tons of CO2 per year through the implementation and operation of wind power plants and contributes to SDGs 7 (affordable and clean energy), 8, 9 (industry, innovation and infrastructure) and 13.

“We have a very clear purpose: we want to regenerate the future together. And this commitment is made tangible by committing to reducing the carbon intensity of our activities (we are committed to reducing the CO2 intensity of the energy we produce by 40% by the end of this decade), consolidating a leadership position in renewable energy and investing in new decarbonized business models. In this case, Galp takes care of managing and guaranteeing the success of the entire process and contributes half the amount of each offset,” explains João Diogo, Country Manager at Galp Spain and Head of B2C at Galp Iberia.

The offsetting is formalized through Galp’s acquisition of credits from carbon mitigation projects in the voluntary market. Each credit equals one ton of CO2 or the equivalent amount of another greenhouse gas. These projects are framed within the scope of the United Nations Clean Development Mechanism, whose main objective is to promote sustainable development through clean technologies.

The process is carried out in a transparent and traceable way thanks to ClimateTrade, a blockchain-based climate marketplace, whose API has been integrated into the Mundo Galp platform. Every time a client decides to offset their CO2 emissions, they receive a personalized certificate with information about the chosen project and a blockchain key that allows them to track their investment and ensure the positive impact generated on the environment.

“Through this compensation program, Galp addresses the emissions of its clients in an efficient and transparent manner. I hope that other companies follow their example to advance in the decarbonization of the energy sector and its value chain,” adds Francisco Benedito, CEO of ClimateTrade.

Currently, the equivalent of 185,000 kilometers have been offset through the Galicia project and 484,000 kilometers through the renewable energy project in Brazil, offering all users who refuel at Galp Spain service stations the possibility of taking direct action against climate change.

 

About Galp

Galp is an integrated energy company committed to developing efficient and sustainable solutions, both in its operations and in the integrated offering it makes available to its customers. A set of simple, flexible and competitive solutions that cover both the energy and mobility needs of large industries, as well as small and medium-sized companies and individual consumers.

The company integrates various forms of energy, from electricity produced from renewables to natural gas and liquid fuels. As producers, they operate in the extraction of oil and natural gas from deposits located kilometers below the surface of the sea and are the largest Iberian producer of electricity from solar energy. Galp actively contributes to the economic development of the eleven countries in which it operates and to the social progress of the communities in which it is present. The company is the industry leader in the main global sustainability indices and directly employs 6,360 people.

With a presence in Spain for 40 years, Galp has 2,230 employees in the country, a network of 570 service stations and a presence in gas, electricity, lubricants, marine, chemicals and aviation. The company continues to expand its presence in the Spanish market, focusing its business on satisfying customer needs. More information at www.galp.com

About CllimateTrade

ClimateTrade is a blockchain-based climate pioneer, aiming to empower large-scale decarbonization through constant innovation. The ClimateTrade marketplace allows companies to offset their climate impact by purchasing carbon, plastic and biodiversity offsets, as well as renewable energy certificates directly from project developers. The ClimateTrade API, Widget and Whitelabel allow clients to integrate marketplace functionalities into their own platform, making their products climate-positive. ClimateTrade is also spearheading disruptive innovation around the digital certification of carbon mitigation projects and supporting the digitization of national carbon registries.