Galp Energia SGPS S A : offsets all of Rock in Rio’s CO2 emissions

Galp will offset all of this year's Rock in Rio carbon emissions. Galp's strategy, as the main sponsor of the festival, will take the shape of an investment of over 150,000 euros. This investment will be split between two projects that promote carbon capture and reduction: one in Portugal, around the Paiva Walkways, and another in Africa, specifically in Nigeria.

2B Forest's project in the Paiva Walkways, which Galp will join, was the first one certified under Portugal's Ecosystem Services Certification. The certification covers Biodiversity, Carbon and Tourism services, with Galp providing financial support to the carbon sequestration service gathered in the forest areas surrounding the Paiva Walkways. Galp will acquire around 7,000 tons in sequestration services. In total, the project should enable the capture of 15,000 tons of CO2 by 2025.

As for the project in Nigeria, certified by the Gold Standard, it involves supporting the manufacture and distribution of more efficient cookers to thousands of families - as well as small and medium-sized companies in Nigeria - who are still using inefficient cookers that pollute the air and are a health hazard for the communities. Galp will acquire 7,000 tons of carbon offsets.

Together, both these projects will make it possible to offset approximately 14,000 tons of CO2 emitted into the atmosphere. In other terms, around double the carbon footprint associated with Rock in Rio, according to a PwC study that analysed all the emissions from the event in previous editions (excluding food & beverage and gifts).

"Galp is making strides towards reducing the carbon intensity of its activities, consolidating a leading position in renewable energy and investing in new decarbonised business models. We have a very clear purpose: we want to regenerate the future together. This also involves taking advantage of moments like Rock in Rio to show that we can celebrate the emotions of music with thousands of people and make it clear that we are working to ensure a better and more sustainable future," says Teresa Abecasis, Galp director.

Galp is not only Rock in Rio's main sponsor, but also the naming sponsor of the Galp Music Valley stage and promises to use that role to showcase the profound transformation underway as a leader of the energy transition. Electric mobility, hydrogen-based energy solutions and projects in the field of social inclusion are some of the surprises that the company is preparing for this year's Rock in Rio, which will be held between 18th and 26th June at Parque da Bela Vista, in Lisbon.

* PwC estimates point to emissions of between 5,500 and 7,000 tons of CO2 during the organisation of the latest editions of Rock in Rio. At the end of the event, Galp will offset this year's exact tons.

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