Galp

Galp, a Portuguese Petroleum Refineries company, reported total emissions of approximately 42.57 billion kg CO2e in 2023. This included Scope 1 emissions of about 3.01 billion kg CO2e, Scope 2 market-based emissions of roughly 9.85 million kg CO2e, and Scope 3 emissions totalling around 39.55 billion kg CO2e. The company has a projection for 2024, with estimated total emissions of approximately 46.27 billion kg CO2e, and for 2025, an estimated 42.9 billion kg CO2e.

Galp has set ambitious climate commitments, aiming to achieve net-zero emissions across all scopes by 2050. As an interim target, Galp aims to reduce its Scope 1 and Scope 2 (market-based) GHG emissions by 40% by 2030, against a 2017 baseline. This target is considered by Galp to be 1.5°C aligned. Additionally, Galp has committed to reducing its industrial operational emissions (Scope 1 and 2) by 50% by 2030, compared to a 2017 baseline. The company has also committed to achieving near-zero upstream methane emissions by 2030, and to ending routine flaring in its upstream operations. By 2021, Galp successfully achieved its target of acquiring 100% of its electricity in Portugal from renewable sources, reducing its Scope 2 GHG emissions to near zero in Portugal.