85

These data show that emission intensity has remained similar or in decline. Uni- fying the emissions per energy unit, the global downward trend is confirmed in 2017 of the intensity of our emissions. We have managed to increase our activ-

ity in the different business units without compromising energy efficiency and opti- mising the resources used for this, so that we can continue to grow in a sustainable manner.

We are aware that our activities, based on energy supply and petrochemical so- lutions, are powerfully affected by gen- eration of gHg emissions. That is why we maintain a firm commitment to com- bat Climate Change. We have framed a Carbon Strategy that provides us with a range of tools to ensure compliance with the strictest regulations and standards, and with the efficiency and sustainability targets that we have set ourselves. How- ever, we are in the process of expanding

and aligning this Carbon Strategy with our strategic lines within the 2030 time- frame.

Thanks to this management, in 2017 we obtained a grade of A- in the Carbon Disclosure Project (CDP) questionnaire, a benchmark among companies world- wide, which recognises the firm under- taking of Cepsa to generate value based on sustainability criteria and respect for our environment.

Climate change risks and opportunities

In 2017, our company s energy consump- tion increased slightly, mainly due to the commissioning of the combined cycle power plant of Cepsa gas and Electric- ity in San Roque, as well as the inclusion for the first time of the consumption of carbon made in the Sinar mas chemical

plant from Indonesia. Except for natural gas, the efforts made during this year to optimise the use of fuels such as fuel oil, fuel gas or diesel, resulting in a decrease in their consumption for the generation of energy are noteworthy.

Energy consumption and efficiency

Total consumption energy per source (Thousands of gJ) 2017 2016 2015

Fuel-oil 3,521 5,162 7,762

Natural gas 44,535 38,882 37,947

Crude oil 174 403 567

Fuel gas 31,973 31,921 31,430

Diesel 3,243 3,703 3,370

Carbon (SINAR mAS, Indonesia plant 50%) 421 - -

Other fuels (residual currents, propane and butane) 1,379 1,437 1,112

biomass 0 0 0

Purchased power 6,562 6,380 9,250

Purchased steam 380 0 0

Renewable energy other than biomass (e.g.: solar, wind, etc) 85 86 47

TOTAL 92,272 87,974 91,485

2017 ANNUAL AND CORPORATE RESPONSIbILITy REPORT