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UNDP signs its first global agreement with a company from the oil and gas sector

Repsol and the United Nations Development Programme will collaborate to promote sustainable development

  • The global agreement facilitates cooperation for a period of two years in close to 20 countries where both entities operate.
  • Community development and the protection of human rights will be promoted through local economic and social progress, along with support for environmental protection.
  • The two organizations will engage local communities to define their priorities for sustainable development; support initiatives that ensure this development; and share information and experiences in order to contribute to achievement of the Sustainable Development Goals (SDGs).
Press release
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Shot of a worker and two locals walking away in a field

Repsol and the United Nations Development Programme (UNDP) have signed a global agreement that facilitates advancement of sustainable development in close to 20 countries where both entities operate. This is the first global agreement between the UNDP and a company from the oil and gas sector.

The agreement will foster collaboration in support of community development and the protection of human rights, through initiatives that promote local economic and social progress as well as respect for the environment. As such, the partnership will support local communities in their efforts to achieve the Sustainable Development Goals (SDGs).

“We are committed to support countries engaged in the sustainable use of natural resources to transform their wealth into sustainable development”, said Marcos Neto, Director for the global UNDP Istanbul International Center on Private Sector in Development. He continued, “this involves working closely with companies in these industries to align their investments with the Sustainable Development Goals. This global partnership with Repsol is an exciting opportunity to do this at scale.”

““Repsol considers sustainable development to be one of the company’s global goals, and the agreement with the UNDP demonstrates our high standards,” said Director of Sustainability at Repsol, Fernando Ruiz,. “With this important partnership with the United Nations, we go one step further in our commitment to the local communities and environments in the countries where we are present,” he added.

The collaboration between Repsol and the UNDP has an initial duration of two years and identifies four activity areas: exchange of information and analysis to identify potential collaborative projects; engage community stakeholders in participatory dialogue to define local development priorities; support for concrete projects that ensure sustainable development; and sharing of knowledge and experiences of how the extractive industries can support achievement of the SDGs.

This is not the first time the two organizations have collaborated. They have already worked together on projects including a water access program in La Guajira and a community development initiative in Cartagena (Colombia) and an initiative to support local communities in Libya.

With the signing of this agreement, the basis of their cooperation will become global. Currently, the international operations of Repsol and UNDP have the following countries in common: Algeria, Aruba, Bolivia, Brazil, Colombia, Ecuador, Gabon, Guyana, Indonesia, Iraq, Libya, Malaysia, Mexico, Morocco, Peru, Trinidad and Tobago, Venezuela, and Vietnam.

About Repsol

Repsol is a global company, present along the entire energy value chain. It is active in 37 countries and employs more than 25,000 people, and its products are sold all over the world. It produces some 700,000 barrels of oil equivalent per day, and has one of Europe’s most efficient refining systems.

The company is well-positioned for the energy transition with its focus on developing production of gas, low-carbon businesses and a multi-energy offering for consumers. In terms of technology—one of the pillars of the company—its cutting-edge projects in various fields have made it a point of reference for innovation, sustainability, and efficiency in the energy industry.

About UNDP

UNDP partners with people at all levels of society to help build nations that can withstand crisis, and drive and sustain the kind of growth that improves the quality of life for everyone. On the ground in nearly 170 countries and territories, we offer global perspective and local insight to help empower lives and build resilient nations.