Our fight against climate change

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.

Josu Jon Imaz

 

"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

12%

reduction

of the CII (Carbon Intensity Indicator) in 2025, 25% in 2030, and 50% in 2040.

1.5

millions tonnes

of CO2e in Scope 1 and 2 reduced thanks Emission Reduction Plan in 2021-2025

25%

reduction

of methane emissions intensity by 2025 until reaching a value of 0.2% in 2030 compared to 2017.

50%

reduction

of routine flaring at our operated assets as a target regarding 2018.

7.5

GW

by 2025 and 15 GW by 2030 of low-emission electricity generation capacity.

Moving towards emission reductions

Water droplets on the leaves of a sunlit plant

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.

Participants in the OGCI posing for a picture

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.

View of a wind turbine with Transition Pathway Initiative logo

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.

View of an offshore platform

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.

Image of solar panels and wind turbines in a field

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.

View of planet Earth from space

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.

Our journey in the fight against climate change