Spanish company with positive declaration of carbon footprint

Press release - 19th July 2012

BSI has issued Spanish oil and gas giant Repsol with a certificate that verifies the greenhouse gas (GHG) emissions generated during its 2012 Annual Shareholders Meeting.

Repsol is the first Spanish company to receive a positive declaration from BSI for its carbon footprint calculation for an event of this nature, in line with the PAS 2050:2011 standard which assesses the life cycle greenhouse gas emissions of goods and services.

The entire life cycle of the carbon footprint of the 2012 Annual Shareholder's Meeting was measured, from the start of planning to the end of the meeting, including waste management and disposal.

Having quantified the carbon footprint for the AGM and using BSI to independently verify it, Repsol has compensated for these emissions in order to achieve zero carbon balance for the event. 115 tonnes of CO2 equivalent have been offset by purchasing the same number of voluntary credits from the La Venta II wind power project in Mexico.

The compensation process was conducted by voluntarily purchasing a quantity of carbon credits from a project in a developing country, proportional to the tonnes of CO2 equivalent emitted. By achieving this milestone, Repsol once again reinforces its commitment to protecting the environment, which has led it to be considered by the prestigious Dow Jones sustainability index as the most sustainable oil and gas company in the world, achieving a maximum score for its strategy on climate change.

“BSI Spain is delighted to recognize Repsol’s carbon footprinting achievements,” said Marcio Viegas, Managing Director BSI Iberia and France. “This certificate is clear demonstration that Repsol is a company which strives for ongoing excellence and has sustainability truly embedded at the heart of its operations.”