- The international agency recognizes Cepsa's "advanced level" (the highest category) in terms of sustainability and improves its overall rating by four points compared to the previous edition
- This latest rating ESG assessment places Cepsa among the best rated companies in its sector in Europe for its performance and management capacity in environmental, social and good governance aspects
- EcoVadis, which specializes in evaluating the sustainability of companies, has also recognized Cepsa with a gold medal, placing it among the top 3% of companies in its sector worldwide
Moody's annual ESG analysis of this year raises Cepsa's result by four points and ranks it, for the second consecutive year, among the top three companies in its sector in Europe for its progress in sustainable management. Moody's recognizes Cepsa's "advanced level" of sustainability, placing it in the highest category.
Cepsa scored 65 points, compared to 61 points obtained in 2022, an increase that reflects in part the actions and good practices framed in its 2030 Positive Motion strategy, with which the company aspires to become a benchmark in the energy transition, leading the production of green hydrogen and biofuels and being a key player in sustainable mobility in Spain and Portugal.
Carmen de Pablo, CFO and Director of Strategy and ESG at Cepsa, highlighted: "Our Moody's ESG assessment, considered one of the most relevant by the financial community, allows Cepsa to continue moving forward, identifying growth opportunities and reinforcing its commitments to sustainable development. As outlined in our Sustainability Plan, presented in the first quarter of the year, we have a clear roadmap to continue incorporating ESG best practice in all of our actions and thus contribute shared value to the communities where we are present."
Cepsa's Sustainability Plan, entitled ‘Driving Positive Impact’, is based on eight pillars with which the company sets out a series of commitments such as a 55% reduction in its scope 1 and 2 CO2 emissions by 2030, a 20% reduction in freshwater withdrawal in water-stressed areas by 2025and increasing the intensity of the circularity of waste from its operations by 50% by 2030, compared to 2019 levels.
Moody's has developed this ESG assessment with the objective of assessing the management and capacity of companies in the face of long-term sustainability risks and opportunities, as well as their progress in all matters related to this area. The agency has provided ESG assessments for nearly 5,000 companies, considering 24 ESG aspects.
These types of independent assessments demonstrate Cepsa's strong commitment to sustainability and its stakeholders. In this regard, EcoVadis, a benchmark rating agency used by companies to evaluate the sustainability of their supply chain, recently awarded the energy company with a gold medal, placing it among the top 3% of companies in its sector worldwide.
A strategy based on ESG criteria
Cepsa considers the management of ESG aspects to be key. As part of its 2030 Strategy, 'Positive Motion', Cepsa aims to achieve zero net emissions before 2050. To this end, the company will invest between 7 and 8 billion euros by 2030, of which around 60% will be for sustainable businesses linked to the production of green hydrogen and biofuels.