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Environment

Environmental Policy

We are committed to invest in assets that are environmentally sustainable and managed in a sustainable manner. We follow policies that analyze, evaluate and propose measures to minimize the environmental impact of our business activity.

Our Environmental and Quality Management System complies with the standards ISO 14001 and ISO 9001. These certifications cover management and acquisition of contracted assets. They were obtained for the first time in 2015 and are valid until May 2021. Our Environmental and Quality Management System is audited annually by an external third party (DNV GL).

quality system certification

 

Our management system guarantees that we comply with the regulations in force and with our policies in each of the markets we operate. In this sense, we measure and monitor the environmental impact of our activities and we define and implement action plans to reduce this impact, in relation with:

  • Emissions. We calculate and monitor our GHG emissions from Scope 1 and Scope 2. We are currently in the process of estimating our Scope 3 emissions.
  • Water. We make a rational and sustainable use of water, including the water we use for desalination and for energy generation.
  • Waste: Hazardous and non-hazardous waste is generated in the operation of our assets. Our environmental management system includes actions aimed at minimization and improvement of waste management (identification, segregation, recycling, prevention and reporting).

We have established a goal to reduce our emission rate per unit of energy generated by 10% by 2030. We also intend to maintain 80% of our revenues generated from low-carbon footprint including our renewable, transportation and transmission infrastructures and water assets. The achievement of these targets is reviewed by top management in our Environment Committee, which is held once a month. We also report to our Board at every meeting on the progress of our ESG plan and semi-annually on the main environmental indicators (GHG, water and waste).

In addition, we perform annual internal audits in our assets aimed at reviewing compliance with our best practices and promoting constant improvement. These audits are focused on a broad range of areas of asset management and include environmental aspects. The purpose of these audits is to review operational, maintenance and environmental indicators, as well as compliance and reporting requirements. In 2018, 11 of our assets were audited and 188 improvement actions were identified. Action plans have been set to reach the internal standards required and are currently ongoing.

Regarding our Suppliers, we have a strong system in place to guarantee our suppliers comply with an appropriate level of ethics and respect to human rights (see our Social and Governance sections). In 2019 we intend to reinforce the environmental certification of our suppliers, we have already engaged the services of the external provider Ecovadis to standardize our suppliers by their commitment to sustainability, not only from Human Rights point of view, but also from an environmental perspective.