Energy efficiency is one of the most effective ways to reduce greenhouse gas (GHG) emissions. It requires a continuous process of searching for opportunities for improvement in the fields of technology, design, and operation and maintenance procedures. Energy efficiency has always played a part of our projects and operations, being prominent since 2006 in ambitious plans and goals to reduce the energy and carbon intensity of our operations.
In 2017, we issued a certified green bond valued at €500 million and became the first Oil & Gas company to use this type of asset. It will be used to fund over 300 initiatives designed to improve energy efficiency and reduce CO2 emissions. In May 2020, we reached our investing commitment to finance projects for emissions mitigation in order to reduce CO2 by up to 1.2 Mt in our operations.