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Repsol Sustainability Report: Missed CO2 Reduction Target by 13%

Repsol reduced CO2 equivalent emissions by 204,334 metric tons in 2009, missing its target of 235,000 metric tons by 13 percent, according to the company’s annual sustainability report.

In absolute terms, the company has cut CO2 equivalent emissions to 24.701 million metric tons, a 4.7 percent reduction from its 2005 baseline of 25.931 million. Repsol achieved its goal of cutting one million metric tons of CO2 equivalent emissions over its “business as usual” projections by 2012 four years ahead of schedule. It then committed to a new goal of cutting 2.5 million tons during the 2005 – 2013 period. The company has so far cut  1,227,263 metric tons of CO2 since 2005, 49 percent of its target. Repsol cited market conditions as the reason it was unable to achieve its carbon reduction last year.

All of its CO2 reductions in 2009 were verified according to the ISO 14064 standard, an improvement over the previous year, when 79% of total reductions were verified.

Repsol YPF approved a new strategy on carbon and new energy sources that covers activities in the company’s different divisions and businesses, which had previously

been managed independently, grouping these under a single monitoring system controlled by the Executive Committee, which sets common guidelines and leverages synergies. According to the strategy, the company has committed itself to direct reduction of its GHG emissions through efficiency improvements at its production facilities, support for market based incentives for emission reduction, and developing biofuel and carbon capture technology.

Water consumption dropped 3 percent from 2008 levels to 115,266 metric kilotons from 118,815 metric kilotons.

SO2 emissions dropped 10 percent in absolute terms from 2008 levels, to 1.28 million metric tons per kiloton of processed oil from 1.43 million metric tons, while nitrous oxide emissions dropped only 1 percent.

The company said it has increased participation in emission markets, with greater volume in its European Union Allowance (EUA) and Certified Emission Reduction (CER) operations in 2009. The company also acquired CERs from a landfill site gas recovery project in São Jose dos Campos (Brazil). In 2010, the company said it will increase its participation in external CDMs in order to offset compliance costs in regulated markets.

In 2009, Repsol YPF distributed 98,000 metric tons of bioethanol equivalent in gasoline and 376,000 metric tons of biodiesel, accounting for approximately 3.3 percent of total fuel sales. It plans to distribute one million metric tons of biodiesel this year. In 2009, the company adapted 39 of its Spanish service stations and 54 of its Portuguese service stations to supply liquefied petroleum gas.

At the end of 2009, Repsol YPF had 300 MW of installed wind and mini hydraulic energy capacity through its interest in Gas Natural SDG-Unión Fenosa, with renewable

power generation capacity of 627 GWh. The company said it will develop new projects to integrate renewables into its activities in 2010. It also plans to launch its SolarGas solution this year, which will promote LPG as a back up to solar power.

The company’s energy consumption dropped 3 percent in 2009 due to lower refining and chemical activities in Spain and Portugal, the company reported.

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