Spanish energy company Repsol has registered its La Plata industrial project with the United Nations as a Clean Development Mechanism (CDM), the first of its kind in the world.
CDM, a tool laid out in the Kyoto Protocol, allows for development of emissions-reducing projects which favour sustainable development and the implementation of clean technologies in the countries where the investment is made.
The project carried out by Repsol at its Argentine La Plata refinery will increase energy efficiency by reducing the demand for fuel oil and natural gas, allowing an annual emissions reduction of approximately 200,000 tonnes of carbon dioxide.
Repsol has developed a comprehensive strategy to combat climate change, part of which is the development of CDMs as an efficient way of achieving emissions-reduction objectives, as well as promoting investment in investigation, innovation and technical improvement in the countries in which the company operates.
Repsol’s climate-change strategy recently won recognition as being amongst the world’s best by the Climate Disclosure Leadership Index (CDLI) and the Climate Performance Leadership Index (CPLI).
