Repsol is a global multi-energy company present throughout the value chain that offers a wide range of products around 100 countries. Repsol is leading the energy transition and has set itself the goal of becoming zero net emissions by 2050. It has a team of more than 24,000 employees of 79 different nationalities and is present in more than 30 countries. It has a large portfolio of 24 million customers. Repsol has four main lines of business to advance in the energy transition, focusing on technology, digitization, innovation, talent and new and increasingly flexible ways of working. 1.Upstream; hydrocarbon extraction and production focused on reducing GHG emissions from its portfolio of assets. 2. Industrial business, in which Repsol is a leader in Europe due to the high competitiveness of its assets, 3. Customer-Centric business, which seeks to satisfy any energy and mobility needs of its customer. And finally, a 4. Low Carbon Generation business that is committed to renewable energies (solar, wind and hydroelectric) to become a global operator.

Purpose

Our forward looking vision is to be a global energy company that creates value in a sustainable manner through innovation, efficiency, and respect to drive progress in society.

JOSU JON IMAZ

CEO, Repsol

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We believe it is vital to state clearly to the world the set of our beliefs about Inclusive Capitalism. As such, we start with our Statement of Guiding Principles for Inclusive Capitalism. Knowing that words alone are not enough, each of us is making a series of commitments about how we will operate our institutions so that they help achieve Inclusive Capitalism. These commitments are forward-looking statements based on current goals, expectations and assumptions, which are not guarantees of future performance. For more information, please refer to our Terms of Use

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Summary

Repsol will promote inclusion of gender, disabilities and promoting LGTBI-inclusive environment, with a goal of reaching 35% of women in leadership positions by 2025.

Activities & Initiatives

‪Establish gender parity in hiring processes and ensure the use of diversity criteria in all stages of professional development. To be recognized as a diverse and inclusive company. We understand diversity and inclusion as a distinguishing element that allows us to be more competitive.

Measures & Targets

  • As Repsol commits to the just energy transition, it will aim to reach 35% of women in leadership positions across the company by 2025. As part of this commitment, they fund the ‘Repsol Digital Girls’ program promoting interest among female talents in STEM disciplines.
  • In Spain, Repsol is a benchmark company when it comes to incorporating people with disabilities into the labor market through its responsible purchasing policy, accessibility policy at work centers, and its employability programs. As part of this work, the company participates in the Global Business Disability Network from ILO.
  • Since 2020, Repsol has a group of more than 180 LGBTI allies, employees who are fighting against discrimination. This group is working in over 10 countries, including Spain, Brazil, Venezuela, Peru, Ecuador, Bolivia, Canada, Colombia, Trinidad & Tobago and the United States.

SDG Focus Area(s):

Summary

Repsol will invest in people by continuing to be in the top quartile of performance according to the Corporate Human Rights Benchmark through 2025 and contributing to the SDG 2030 Agenda through our social projects.

Activities & Initiatives

‪Establish strong relationships where the company has a presence. Guarantee people´s security with full respect of human rights. Make progress in terms of applying the United Nations Guiding Principles on Business and Human Rights in the company.

Measures & Targets

  • For the period 2021-2025, continue to be in the top quartile of performance according to the Corporate Human Rights Benchmark (CHRB).
  • Adapt the company’s regulatory framework and processes to new regulatory developments in human rights due diligence.

SDG Focus Area(s):

Summary

Repsol will help address climate change by reducing the methane emissions intensity of its Exploration and Production business (operating assets) to 0.20% by 2025.

Activities & Initiatives

Convinced of the importance of the role of natural gas in the energy transition, Repsol has announced a new target of reaching a methane intensity of 0.20% by 2025 in its operated assets.

Measures & Targets

New target of methane intensity 0,20% by 2025 compared to 2017 in the operated assets  (methane emissions / marketed gas, % v/v)

SDG Focus Area(s):

Summary

Repsol aims is to be a company with net zero emissions in 2050, limiting global warming well below 2°C and complying with the Paris Agreement, the Sustainable Development Goals, and in line with what is required by society.

Activities & Initiatives

We set an ambitious emission reduction targets

Measures & Targets

By 2025, reduce the carbon intensity indicator by 15% compared to 2016, with reduction further reductions of  28% by 2030 and 55% by 2040 according to the path established to move the company towards net zero emissions by 2050. The new updated strategic plan contemplates investment of €6.5 billion on low-carbon business between 2021 and 2025, which is 35% of the total capex in the period.

SDG Focus Area(s):

Summary

Repsol will to implement energy efficiency measures and increase its participation in renewable energy projects with a project portfolio that will reach a renewable energy generation capacity of 20GW by 2030

Activities & Initiatives

Repsol is moving to a model that integrates various technological options and combines electrification with the use of low-carbon products to offer solutions that meet all of society’s energy needs at home or on the move.

Measures & Targets

  • The low-emissions project portfolio will grow annually more than 500 MW between 2020 and 2025 reaching a capacity of 6GW by 2025.
  • Between 2025 and 2030, Repsol will accelerate the organic growth of its renewable energy generation capacity with the development of projects that will add close to 3 GW of installed capacity each year and will reach a capacity of 20GW by 2030.

SDG Focus Area(s):

Summary

Repsol is committed to carrying out social investment projects that improve the quality of life of local communities by benefiting more than 4 Million people through their social investment projects by 2025.

Activities & Initiatives

Repsol works in partnership with international organizations such as the United Nations Development Program (UNDP) to carry out social investment projects that improve the quality of life of local communities.

Measures & Targets

  • Each year, Repsol invests around 40 million euros and carries out between 450 and 800 social investment projects in different countries where it operates.
  • In the 2020-2025 period, Repsol has the objective of benefiting more than 4 Million people through our social investment projects.

SDG Focus Area(s):

Summary

Repsol will work to ensure the fulfilment of the Paris Agreement by updating every years our alignment with the associations and initiatives with which Repsol participates and make it known publicly.

Activities & Initiatives

‪Evaluate our alignment in more than 20 trade associations and initiatives in light of the Paris Agreement. Our selection is based on the associations relationship to the energy sector and their scope of activity in regions or countries in which we have operations.

Measures & Targets

‪Update every year our alignment with the associations and initiatives in which Repsol participates according the Paris Agreement and make it known publicly.

SDG Focus Area(s):

Summary

Repsol will mitigate the impacts on biodiversity during the planning and development of our projects and operations, regardless of where they are located, by adapting and improving the GEMI ((Global Environmental Management Index) by 2021.

Activities & Initiatives

‪Quantify environmental impacts and dependencies according to natural capital criteria, carrying out pilot projects in the main businesses of the company

Measures & Targets

  • Apply the READS (Repsol Environmental Analytics Data System) tool in new studies for the valuation of impacts on biodiversity, ecosystem services and natural capital. Integrate the results of the analyses in decision making to improve environmental management
  • Continue to collaborate and provide technical expertise in international projects (TNFD working group, European projects Align and Transparent, etc.) for the development of homogeneous principles for the valuation of impacts on natural capital and biodiversity

SDG Focus Area(s):

Summary

Repsol will promote circular economy by recycling the equivalent of 20% of our total polyolefin production, and building the first low-emissions advanced biofuels plant in Spain, to reach a sustainable biofuel production capacity to 2Mtons by 2030

Activities & Initiatives

‪Optimize the use of the resources we use in the manufacture of our products in our industrial processes, giving them a second life whenever possible.

Measures & Targets

  • Recycle the equivalent of 20% of our total polyolefin production by 2030.
  • Repsol will build the first low-emissions advanced biofuels plant in Spain at its refinery in Cartagena. The plant, projected to be operational in 2023, will have an annual production capacity of 250,000 tons of advanced biofuels from recycled raw materials to be used in aircraft, trucks, or cars. The new advanced biofuels will make it possible to cut CO2 emissions by 900,000 tons per year.
  • Reach a sustainable biofuel production capacity of 1.3 million tons in 2025 and more than 2 million in 2030, of which more than 65% will be produced from waste, and may even reach 100%, to satisfy the market or regulatory demands.

SDG Focus Area(s):

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Recognizing it will take alignment of all our organizations to scale impact globally, we invite you to join the movement as a Steward of Inclusive Capitalism. Together, the collective action of Council members will contribute to a fairer, more inclusive and sustainable future for all people and our planet.