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COP26

A global summit to combat climate change

The COP26 UN Climate Change Conference, hosted by the UK in partnership with Italy, will take place from October 31st to November 12th. It will serve as the platform for the international community to reach an agreement and accelerate climate action in relation to the 2015 Paris Agreement. Governments, companies, investors, and citizens, we all play a key role in achieving this.

At Repsol, we're committed to this challenge and the energy transition. We were the first company in the oil & gas sector to take on the challenge of reaching net zero emissions by 2050, and we're devoting all our efforts to stepping up the energy transition by increasing our intermediate decarbonization targets. We're convinced that it's only by tackling the major challenges before us that we can turn them into opportunities.

Antonio Brufau

 

"Repsol has a total commitment to reaching net zero emissions by 2050. It's part of our commitment to sustainability. It's our conviction."

Antonio Brufau, Repsol Chairman

More ambitious targets

We increased our targets to step up our renewable electricity generation, zero-carbon hydrogen production, and other low-carbon initiatives. We expanded our investments for the 2021-2015 period to €19.3 billion, allocating an additional €1 billion more than the amount set out in the Strategic Plan.

In October 2021, we announced our more ambitious targets during Low Carbon Day, an event dedicated to the energy transition.

55%

increase

in our CII (Carbon Intensity Indicator) in 2040.

60%

growth

in our installed renewable energy capacity in 2030.

85%

reduction

of our methane emissions intensity by 2025 and down to 0.2% in 2030 compared to 2017.

55%

reduction

of emissions from operated assets (Scope 1 and 2).

50%

reduction

of routine gas flaring in our operated assets by 2025 compared to 2018.

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, Repsol CEO