"At Repsol, we are committed to an energy transition towards a low-emission future in which no energy source should be written off. Each source has its context, place, and role to play in the growth of the global economy."
Antonio Brufau, Repsol Chairman
2020 objective: to reduce our carbon intensity by 3% compared to 2016 levels
2018-2025 Emissions Reduction Plan: reduce 3 Mt CO2e
2025 objective: to reduce methane emissions in our operated assets by 25% compared to 2017 levels
2025 objective: to reduce routine flaring by 50% as compared to 2017
We are firmly committed to the goal of limiting the rise in the Earth's average global temperature to 2 degrees Celsius as compared to pre-industrial levels.
This scenario supposes that, by the second half of this century, net CO2 emissions in the atmosphere should reach zero and, as signatories to the Paris Pledge for Action, we work for our Company to be part of the solution to the climate problem.
We have been working towards this goal for some time: between 2006 and 2018 we managed to reduce our CO2e emissions in our processes and activities by 4.9 million tons.
In addition to other projects, we're part of the Oil & Gas Climate Initiative (OGCI), a coalition between 12 other companies from our sector. Its goal is to share best practices and technological solutions to help drive the fight against global warming.
As further proof of our commitment to stopping climate change, our CEO, Josu Jon Imaz, signed on to this initiative in 2015 and since then has been leading our role in it.
In 2016, the OGCI created a fund to invest $1 billion over 10 years to develop and accelerate the commercial rollout of low-emissions technologies.
4.9 Mt CO2e reduced
between 2006 and 2018.
73% of our total
proved reserves are gas.
€500 M applied for
energy efficiency projects and low-emission technologies.
CDP recognizes the companies with the best energy and carbon management systems. Since 2006, we have been classified as one of the best companies in our sector.
Our presence in this and other sustainability indices is proof of our ability to gain the trust of institutional investors that consider sustainability to be a good indicator of the quality of management and governance in a certain company. It also represents recognition of our commitment to transparency.