Net zero emissions by 2050
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 achieve this goal, we have established a roadmap that includes intermediate targets on the path to decarbonization.
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. For the 2030 target, a margin of ±1% has been established.
Repsol's Decarbonization Journey
Repsol’s Decarbonization Journey was created to provide a strategic overview of our Transition Plan, showing how our specific 2030 targets and investments are aligned with global pathways consistent with achieving net zero emissions by 2050, while also testing our viability and resilience during the 2030–2050 period under different global transition scenarios, including those of net zero emissions.
This document outlines our vision for the energy transition, the role of each business unit in this process, and how we are progressing in decarbonizing our operations and product portfolio.
The report explains how we intend to deploy our key decarbonization levers, the expected evolution of our energy mix, capital allocation strategy, and resilience analysis under different transition scenarios. Our strategy is designed to ensure long-term economic sustainability in a context where the pace of the energy transition may vary depending on technological developments and regulatory evolution at both global and regional levels.
With this report, we aim to provide a more comprehensive understanding of our Transition Plan and the decisions that are guiding our company's transformation.
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.
The upgrade of our targets demonstrates the solid progress the company is making towards becoming carbon neutral by 2050. Ambition, technology, and project execution are enabling us to increase the speed at which we will achieve this target.”
Repsol CEO
Our targets
Our targets
We aim to achieve the ambitious goals laid out in our road map as a means of accelerating the energy transition.
| Decarbonization targets | Unit | Base year | Years | ||||
|---|---|---|---|---|---|---|---|
| 2025 | 2030 | 2040 | 2050 | ||||
| 1 | Carbon Intensity Indicator reduction (based on primary energy)) | g CO2e/MJ | 2016 | 15% | 25% (2) | 55% | NZE (3) |
| 2 | Absolute S(1+2+3) emissions reduction (based on sales) (1) | Mt CO2e | 2018 | - | 20% | - | NZE (3) |
| 3 | Operated Scope 1+2 emissions reduction | Mt CO2e | 2016 | - | 55% | - | NZE (3) |
| 4 | Methane emissions intensity | %; m3/m3 | 2017 | 0.2 | 0.10% | ||
| 5 | Routine flaring emissions | Kt CO2 | 2018 | 172 | Zero |
(1) The absolute gross emissions reduction target of Scope 1, 2, and 3 covers 91% of the company's total GHG emissions: 100% of operated Scope 1 and 2 emissions and more than 90% of Scope 3 emissions.
(2) 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. For the 2030 target, a margin of ±1% has been established.
(3) Net Zero Emissions: it means that the amount of greenhouse gases we emit to the atmosphere is the same as the amount we remove from it.
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Updated as of August 2026