Climate change

We are committed to sustainable development within our strategy

We believe in accessible, affordable, and low-carbon energy. Besides, we are convinced that only by addressing the major challenges we face can we turn them into opportunities.

We aspire to become a net zero emissions company by 2050

Learn about Repsol’s Decarbonization Journey, our report that elaborates on the company’s Transition Plan, showing how its specific 2030 targets and investments are aligned with global pathways consistent with achieving net zero emissions by 2050. The report details how the main decarbonization levers will be implemented, the anticipated evolution of the energy mix, capital allocation, and the role of each business unit, incorporating resilience analysis under different transition scenarios.

See the report | PDF | 5.6 MB

Learn about our pathway

Decarbonization pillars

We are spearheading the energy transition in the sector in order to reach our target of reducing emissions. Our strategy is based on five pillars.

Operational excellence and portfolio management

Energy efficiency, process electrification, reduction of direct emissions, adaptation of production levels, and portfolio management are key drivers.

Renewable electricity generation

We built a portfolio of renewable energy projects with asset portfolio rotation, partner integration, and project financing.

Liquid and gaseous renewable fuels

We provide solutions for mobility and emissions reduction, such as biogas and renewable hydrogen.

Carbon sinks

Repsol’s decarbonization pathway considers in the long‑term contribution of carbon sinks: CO₂ capture and storage projects and natural solutions.

Energy for customers

We are moving toward an energy model, focused on supplying different energy sources to adapt to our customers' needs and European decarbonization goals.

Other lines of action that support decarbonization

Carbon pricing

We've set an internal carbon price that we apply to every new investment we make.

Sustainable finance

Comprehensive sustainable financing strategy to advance the commitment to net zero emissions.

Circular economy

We have numerous initiatives across our value chain, driving change and creating the synergies necessary to accelerate it.

We join the change

We're working every day in the fight against climate change by actively joining international industry initiatives and associations in the energy sector aimed at applying the sustainability principles.

Participation in associations and public consultations

Our commitment to promote policies and regulations that accompany the energy transformation, combining climate ambition with industrial competitiveness.

Fight against climate change

We've joined international initiatives (OGCI, Concawe, IOGP, Fuels Europe, etc.) aimed at the development of people, the environment, and safety.

Other partnerships

Committed to transparency

We've published an archive with our annual sustainability reports as well as reports on associations and initiatives with relevant information on our operations.

Report archives

We support the TCFD recommendations

As of the 2017 Integrated Management Report, the structure of the climate change section has been adapted to the TCFD recommendations.

Learn more

Committed for more than 25 years

We have been immersed for years in a process of transformation and diversification of our businesses, with the aim of working to lead the energy transition, through actions such as support for the Kyoto Protocol, issuing a green bond, or the goal of becoming a net zero emissions company by 2050.

- Energy Efficiency Index at Consumption and Losses Group
- Energy management at Industrial Area
- IPIECA
- 1^st climate change position
- Climate Change Unit
- 1^st carbon strategy
- GHG emissions reduction plan 2006 – 2013
- 1^st CDP report
- 1^st GHG emissions verification under ISO 14064-1 standard
- Energy Efficient Coordination Area
- Energy efficiency policy
- Energy Ventures
- 1^st employees’ variable remuneration linked to a GHG emissions reduction target
- 1^st Energy Management System certification under ISO 50001 standard (A Coruña Refinery)
- GHG emissions reduction plan 2014-2020
- First Sustainability Day
- Sustainability Committee
- OGCI
- Support Paris Agreement. Paris Pledge for Action
- Zero Routine Flaring by 2030 - World Bank
- Climate & Clean Air Coalition - O&G Methane Partnership UN Environment
- Global Sustainability Plan
- Methane Guiding Principles
- CCUS position
- Internal carbon pricing
- 1^st O&G company issuing a green bond
- GHG emissions reduction plan 2018 – 2025
- Methane emissions and routine flaring reduction targets by 2025
- Carbon Intensity Indicator target
- SDG priorization
- TCFD recommendations
- Repsol net zero emission by 2050
- Assessing Repsol’s participation in industry initiatives and associations: Climate Change
- OGMP 2.0 (Oil&Gas Methane Partnership ) endorsement
- Paris Compliant investment analysis methodology
- 2021-2025 GHG emissions reduction plan
- Absolute emissions reduction targets
- Reinforced targets for methane and carbon intensity indicator
- Sustainable bond issuance
- First Natural Gas MiQ certification
- First Scope 3 emissions of assets under ISO 14064-1
- Update of the 2024-2027 Strategic Plan
- Signing of the OGDC - et zero Scope 1+2 by 2050
- Establishment of a new absolute metric
- Start of production of 100% renewable fuels at the new Cartagena plant

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Transparency
Metrics and Targets
Adhesion to initiatives
Organization
Strategy