Net zero emissions by 2050
Net zero emissions by 2050
Path towards decarbonization
Path towards decarbonization
Our aim is to satisfy the growing demand for energy and products by maximizing our contribution to sustainable development, in order to meet current needs without compromising the needs of future generations, with a commitment to become a net zero emissions company by 2050 in line with the objectives of the Paris Agreement. In order to reach this goal, our company has set itself a demanding roadmap outlining ambitious targets that were established on Low Carbon Day and updated on Repsol ESG Day.*
* Our metric refers to the use of products obtained from our primary energy production. It is a rational approach to establish a common sectoral framework for all O&G companies along their value chain, without double counting emissions and focused on the progression of the primary energy mix as the key driver of the energy transition towards net zero emissions.
In response to our need to move towards a business model compatible with the Paris Agreement in order to achieve net zero emissions by 2050, we developed this Carbon Intensity Indicator (CII), expressed in g CO2eq/MJ (CO2 emissions by energy unit we place at the service of society).
This indicator enables us to define reduction objectives, support strategic and investment decision-making, and monitor the progress.
Our targets
Our targets
We aim to achieve increasingly more ambitious goals as set out in our roadmap to step up the energy transition.
Net 0 emissions
by 2050.
55%
reduction
by 2030 in scope 1 and 2 emissions in our operated assets compared to 2016.
50%
reductionin 2025 of routine flaring in our operated assets compared to 2018 and minimized by 2030.
85%
reductionof methane intensity emissions by 2025 with respect to 2017, and reaching a value of 0.2% in operated assets.
Building the road towards our goal
Building the road towards our goal
In our refining area, we have initiated a transformation process that will enable us to turn our refineries into multi-energy hubs, which in the short term will be able to process alternative feedstocks to generate fuels and materials with a low carbon footprint. Technology will make it possible, for example, to use urban, agricultural, forestry, or agri-food industry waste to produce biofuels. In addition, renewable hydrogen and CO2 captured in the refineries themselves will be used to make synthetic fuels. Both of these low-carbon products will be essential for the mobility of the future.
More information on sustainability
