Our fight against climate change
Our fight against climate change
More than 25 years of commitment
More than 25 years of commitment
We are the first company to take on the commitment of reaching net zero emissions by 2050, and we continue working toward the goal of limiting the increase of the average global temperature to 2°C, in line with the Paris Summit and the UN Sustainable Development Goals.
"We are aligning our business plans with the objectives of the energy transition through specific plans aimed at progressively reducing our carbon intensity in the coming decades."
Josu Jon Imaz, CEO of Repsol
Our commitments
Our commitments
55%
reductionof the CII (Carbon Intensity Indicator) by 2040.
1.5
millions tonnesof CO2e in Scope 1 and 2 reduced thanks Emission Reduction Plan in 2021-2025
85%
reductionof methane emissions intensity compared to 2017 and reach a value of 0.2% in 2025
50%
reductionof routine flaring at our operated assets as a target for 2025 compared to 2018 figures.
20
GWof renewable power generation capacity by 2030 and 6 GW by 2025.
Moving towards emission reductions
- Committed to transparency
- The grand alliance of the sector
- Investor recognition
- Energy and carbon management assessment
- Collaborative platform
- We take part in the debate against climate change
Committed to transparency
Committed to transparency
Since 2007, we have been verifying the GHG emissions inventory of our Refining, Chemistry, and Exploration and Production operated assets according to the ISO 14064 international standard, which establishes the requirements for designing and elaborating GHG inventories and stipulates how reductions in emissions must be quantified and reported.
99% of our direct and indirect emissions are verified in accordance with the EU-ETS or ISO 14064.
The industry's grand alliance in the face of the CO2 challenge
The industry's grand alliance in the face of the CO2 challenge
The fight against climate change represents such an important challenge that the energy sector has decided to join together in a large joint alliance called the OGCI (Oil & Gas Climate Initiative). This voluntary initiative, led by the CEOs of 13 of the world's leading energy companies, aims to lead the industry's response to the challenge posed by climate change.
The OGCI's main areas of work include the implementation of CCUS (Carbon Capture, Storage and Use) technologies and investment in companies and startups that are developing these technologies through its investment fund OGCI Climate Investments created in 2016.
Recognized by investors worldwide
Recognized by 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.
Energy and carbon management assessment
Energy and carbon management assessment
CDP created the largest global database used by investors as reference to evaluate the leading corporations' results in energy and carbon management. As of today, we are among the 26% of the companies that have reached the leadership scoring band in the Oil & Gas sector, surpassing the average score of European companies and the average in the sector.
Our presence and rating in this sustainability index and others is proof of our ability to gain the trust of institutional investors and recognition for our commitment to transparency.
Collaborative platform for energy transition
Collaborative platform for energy transition
We jointly developed a collaboration commitment to energy transition alongside seven leading companies in the sector. The principles agreed on support collective industry acceleration to contribute to the Paris Agreement and make progress in reducing emissions, among others.
Actively taking part in the debate against climate change
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 ambitious goals.
