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Analyse impacts on climate, well-being, water, biodiversity and ecosystem services.
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Count biophysical impact units (BIUS) - tons, hectares, cubic metres and decibels.
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GEMI-READS Project
At Repsol, we have developed an innovative methodology to carry out a comprehensive assessment of the environmental impacts and dependencies of the Company's activities.
Repsol and the natural capital
Natural capital encompasses the natural resources that contribute to the well-being of people, the development of society, and the advancement of the global economy. This contribution is made through the ecosystemic and abiotic services it provides in the form of energy, materials, cultural aspects, etc. Companies such as Repsol depend on natural capital and their operations generate impacts on it. Its conservation and protection is a fundamental factor in achieving sustainable development.
Why is it important to value natural capital?
- A natural capital approach provides a better understanding of which impacts, both positive and negative, and dependencies are most significant in terms of economic value for society and for companies and financial institutions.
- The evolution from measurement in biophysical terms to economic valuation is fundamental to understanding the extent of risks, the exposure to them and is an opportunity to improve efficient decision making.
- Valuing natural capital allows for improved environmental management, progress in minimising impacts on nature and optimising investments in sustainability.
A pioneering tool
We have developed a natural capital approach to decision-making through the Global Environmental Management Index (GEMI) methodology and the associated digital tool that allows for the comprehensive assessment of environmental impacts and dependencies of projects and operations at a global level: READS.
GEMI and READS are based on the analysis of the relationship between the components of natural capital (plants, animals, air, water, etc.) and the ecosystem services they provide, with the activities carried out by Repsol.
This relationship is measured in two ways:
- In economic terms, allowing the effects of each activity to be brought to the same scale.
- In dimensionless impact units that allow the comparison of different types of impacts considering the particular site conditions, which makes it possible to optimise environmental management at the local level.
The following steps are used to analyse the impacts on natural capital:
