The Repsol Foundation presents the Green Engine Marketplace, a digital platform to learn about and offset the carbon footprint

28.11.2022
The new digital platform is aimed at individuals and companies that want to voluntarily calculate and offset the carbon footprint of their activities, thus contributing to developing reforestation, training, and employment in rural areas and the creation of a new local low-carbon economy.

The new forests to be planted thanks to this initiative will be included in the Repsol Foundation's Green Engine, the largest reforestation project in recent years on scorched and barren land in Spain, and are registered and certified by the Spanish Climate Change Office (Spanish Ministry for Ecological Transition and Demographic Challenge).

At the presentation of this platform, the chairman of Repsol and the Repsol Foundation, Antonio Brufau, stressed that this project is linked to the development of the new low-carbon economy with multiple opportunities from an economic, social, and environmental sustainability standpoint.

Brufau stressed that "the Green Engine has the ambition to become a pioneering and leading project, where environmental, social, and economic aspects have been combined with innovation and technology."

In the words of the chairman of Repsol, "the path towards decarbonization of the economy requires all available, competitive, and scalable technologies, and there is no doubt that we are at the dawn of a new carbon economy that must be fair, efficient, and competitive."

Today, at the Repsol Campus, the Repsol Foundation presented its digital platform the, Green Engine Marketplace, a pioneering initiative in Spain and aimed at individuals and companies that want to calculate and offset their carbon footprint. It serves to voluntarily contribute to reforestation in Spain and generate thousands of educational and employment opportunities.

Using the Marketplace website, users can calculate their annual carbon footprint from their lifestyle and consumption habits, or calculate the emissions from their daily activities, such as meetings, meals, and travel. It also has a special section to calculate the carbon footprint of professional events. Once the online calculation is done, citizens can choose, on a voluntary basis, to make their contribution and choose how many trees they want to offset (totally or partially) their carbon footprint with, selecting the forest in Spain they want to contribute to.

This project has been implemented following the latest user-centric innovations in e-commerce that aim for the utmost simplicity and ease of use, while maintaining rigor and traceability in all operations. Customers can choose different contribution methods and use various means of payment (credit card or bizum). In addition, payment by invoice and the document certifying this payment is available for companies.

The entire design, planting, and monitoring process of the new forests offered in the Marketplace is carried out directly by Sylvestris experts, a company with over 30 years of experience in the forestry sector and in which the Repsol Foundation has partial ownership. All these reforestation projects are recorded in the registry of the Spanish Climate Change Office, the official certification body for CO₂ absorption projects in Spain, under the Spanish Ministry for Ecological Transition and Demographic Challenge.

With civil and business contributions to new forests in Spain through the new Green Engine Marketplace, users are maximizing the triple positive impact of this project—environmental, social, and economic—underlining the value of this natural climate solution on the road to a fair and inclusive energy transition, in line with the Sustainable Development Goals. The new digital tool was presented during an event, which was attended by, on behalf of Repsol and the Repsol Foundation, the chairman, Antonio Brufau, the executive managing director of Energy Transition, Technology, and Institutional Affairs, Luis Cabra, the executive managing director of Client, Valero Marín, the executive managing director of the Repsol Foundation, António Calçada, and director of Communication and Corporate Marketing at Repsol, Marcos Fraga.

In his closing message, Antonio Brufau stressed that “we are at the dawn of a new low-carbon economy, where all known, competitive, and scalable technologies will have to compete to meet the 2050 goals.” He added, “while we all agree on the goals, we cannot forget about the short and medium term because the issue is to decarbonize in the shortest time and at the lowest cost possible. And we must do this without overlooking industry and employment in Europe. Some technologies are going to be critical and are currently in their development stage, such as synthetic fuels and hydrogen in their different aspects as a fuel or as a product for industry, but all these technologies need time and scaling. In the meantime, it is about decarbonizing fairly and inclusively in an efficient and competitive manner, not about displacing industry and emissions from Europe to other regions of the world that are much less restrictive.”

During the presentation, participants highlighted that this new platform is fully aligned with ESG criteria (environmental, social, and corporate governance) and that it is committed to the new low-carbon economy, promoting long-term sustainable activity, committed to society and the environment.

This new initiative is part of the Green Engine, the largest reforestation project in Spain to offset emissions, promoted by the Repsol Foundation and Sylvestris. One of the project's unique aspects is that, in addition to its environmental benefits, it is characterized by a social approach and the promotion of rural economies, aimed at generating local and inclusive employment and boosting economic development in the areas where it operates.

Green Engine

The Repsol Foundation and its investee Sylvestris launched the Green Engine in 2021, with the aim of promoting large-scale reforestation as a tool to offset emissions as part of the energy transition. It is the largest reforestation project for offsetting emissions in Spain, promoting education and employment, creating new forests with native species on scorched and barren land. The Green Engine’s overall goal is to reach 70,000 hectares to absorb 16 million tons of CO₂ in the next few years.

 Thanks to this project, it is generating local and inclusive employment in rural Spain, where planting takes place, with special attention given to hiring people from vulnerable groups.  It also provides a strong boost to the local economy, promoting specialized education and the creation of new businesses linked to the forestry sector, in addition to attracting economic activity and generating wealth in the surrounding area.

The Green Engine is also strongly committed to innovation and research applied to the forestry sector. To this end, it has Hispasat/, a top-tier tech partner, with which the Repsol Foundation and Sylvestris develop satellite technologies for the tracking, monitoring, and control of forests and their growth.

 Thanks to satellite monitoring technology, it will be possible to bring the "digital signal" to many places in Spain that do not have it today, implement a system of drones sensor coupling, where options linked to the Internet of Things, artificial intelligence, and blockchain can be de-veloped, which will contribute to making the process of carbon absorption and forest management as scientific, precise, and rigorous as possible, making the Green Engine a leader in technological in-novation applied to forestry engineering for CO₂ absorption.