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Climate change

Carbon pricing

We support carbon pricing

We believe that a carbon price must be set for all productive sectors worldwide as a key factor in policies to combat climate change. 

Shot of an offshore platform at sunset

In this way, each ton of CO2 will come with a price for everyone, from industry to end consumers. This would have a knock-on effect on their actions, make them aware of the problem, and change their habits towards a more efficient model of consumption and production. The effect would be further strengthened with clear and transparent information on the costs and the repercussion on all those involved. Some advantages of carbon pricing are:

  • It offers a way to mitigate climate change at a lower cost for society.
  • It promotes innovative technologies that are compatible with the 2ºC scenario.
  • It gives companies an incentive to reduce their emissions by including the price in the final cost of all their products.

Based on the above, at Repsol we have established internal carbon pricing that we apply to all of our new investments. We have established the following prices: US$ 25t/CO2 in 2018 and US$ 40t/CO2 from 2025 onwards

Internal carbon pricing enables us to

  • Investment in gas

    Assess and make decisions about our current and future investments.

  • Ensure that the impact of our activities on climate change is monitored.
    Ensure that the impact of our activities on climate change is monitored.
  • Investment
    Determine how climate policies affect our investments.
  • Promote an energy-efficient design in the projects we undertake from the very beginning.
    Promote an energy-efficient design in the projects we undertake from the very beginning.