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Climate change

Our climate change strategy

Our roadmap toward net zero emissions by 2050

We are committed to the fight against climate change. The proof is in our ambitious goal to achieve net zero emissions by 2050, not only those derived from our operations but also those generated in the consumption of our products. In addition, meeting climate change targets has a direct impact on the variable remuneration of all our employees.

Formula for measuring the carbon instensity indicatoror

Carbon intensity indicator for measuring emissions

In our position as a global energy supplier, we have developed a carbon intensity indicator to measure the CO2 emissions generated for each unit of energy we produce for society (g CO2/MJ), which allows us to develop reduction objectives, make strategic decisions, and monitor their evolution.
Offshore windmill. Logo TPI.

We receive recognition from investors worldwide

Transition Pathway Initiative (TPI) is an association that unites 60 of the largest international investors, and which has recognized us as one of the only companies in the sector worldwide to have a strategy compatible with the Paris Agreement objectives. Additionally, at the end of January 2020, we were included in the FTSE TPI Climate Transition Index, the only stock market index aligned with the objectives of the Paris Agreement.
Earth from space, representing our Partnerships worldwide

Actively taking part in the debate against climate change

We take part in technical work groups dedicated to exploring the various scenarios of compliance with climate objectives by identifying the most effective methods for achieving these amitious goals.

Repsol's climate change roadmap

We are a multi-energy provider that is dedicated to the transition toward a lower-emissions future

We have increased our goal for our capacity of low-carbon electricity generation to 7,500 MW by 2025, which equates to an increase of 3,000 MW compared to our previous goal.

[1] Direct and indirect emissions are included from Upstream, Refining, and Chemicals businesses at our Industrial Facilities in Spain, Portugal, and Peru, as well as from the low-emissions electricity generation of our subsidiary Repsol Electricidad y Gas. 

Also included are emissions associated with the use of our products corresponding to our oil and gas production in Upstream operations. Emissions corresponding to the biofuels used in said oil production is also taken into account.

[2] Energy corresponding to oil and gas production in our Upstream businesses is included. Energy corresponding to the biofuels used during oil production is also taken into account.

Chemical products are considered carbon sinks, and although they are not strictly energy products, the energy of the oil necessary for their production is taken into account. Energy from the generation of renewable and non-renewable (via natural gas) electricity sources is included.