Analysis and relations with stakeholders
Identify the key stakeholders and classify them based on their impact and dependence on the company.
One of the largest energy companies, present in the entire value chain: exploration and production, transformation, development and commercialization of efficient, sustainable and competitive energy.
We are a multi-energy company operating around the globe. Our activities range from oil and gas exploration and production to refining as well as selling derived products and providing services for your everyday life, such as natural gas and electricity.
The people on our team represent our prime competitive advantage and guarantee the company's future. A flexible and committed team comprising over 25,000 employees, united by a shared vision and values.
Our facilities are a reflection of our values and company culture. Our smart buildings promote smooth communication and transparency between team members, while allowing them to be more efficient and versatile in their work.
Our brand reflects our efficient, modern, responsible, and transparent management style which characterizes our company. Moreover, it conveys our values and builds trust.
A global, integrated company with over 90 years of history seeking to supply society's energy needs.
At Repsol, we ensure integrity in the relationships the Company maintains with its suppliers and contractors. Our suppliers are a part of our team and working together enables us to continuously evolve.
We look for energy solutions that meet people's needs and safeguard their well-being. With our solid and diversified business undertakings, we stay one step ahead of the future.
Learn about our Company's annual performance in the area of sustainability.
Our priority is to minimize the environmental impact of our activities by optimizing water management, air emissions, waste management, and spill prevention and response, in addition to considering biodiversity a key element.
We work to be part of the solution to climate change. Our challenge: responding to the demand for energy both responsibly and sustainably.
Each and every one of our decisions aims to guarantee the safety of our workers, customers, users, and suppliers. We firmly believe that all accidents can be prevented, and we develop ever-improving prevention mechanisms.
Each and every one of the actions taken by the people who make up Repsol determine the present and the future of our company. Therefore, we train our employees in core values that must govern their behavior and communicate all of our actions in a way that's reliable, transparent, and verifiable.
We are committed to managing our tax affairs by applying good practices and acting transparently. We pay our taxes responsibly and efficiently, and we foster cooperation with governments, thus avoiding serious risks and unnecessary conflicts.
We make reasonable efforts to ensure that our activities do not have negative impact on human rights, and should they occur, we do everything we can to correct them. Moreover, we do everything within our power to prevent impacts directly related to the activities of our business relationships.
Sustainability is an essential part of our forward-looking vision and the shared commitment undertaken by every one of us at Repsol.
The Repsol Technology Lab is an example of one of the most cutting-edge private R&D models in Spain, based on open innovation, whose objective is to seek sustainable solutions to achieve a more efficient and competitive lower-carbon business.
Innovation is in our DNA. That's why we've taken on the ambitious challenge of transforming the energy sector through the passion of our professionals, people who question things to make them better.
We look for industrial startups that provide disruptive reliability and maintenance solutions, particularly those related to the prediction and detection of corrosion.
Innovation, open collaboration, and a connection with the entrepreneurial world within an environment designed for co-creation. Discover our Open Innovation program.
At Repsol, innovation is part of our DNA. That's why we support education in the technical science field in order to inspire future generations.
Soluciones energéticas 100% renovables: energía solar y electricidad para particulares, empresas y entidades públicas.
Global, integrated, sustainable, and present throughout the entire value chain. These are just some of the compelling attributes that make us as an attractive company.
Useful documents to follow the company's profitability and sustainability-related measures and initiatives.
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Our Company, corporate areas, and business units have identified their stakeholders and have permanent and transparent channels and mechanisms for dialogue with them.
We structure our relationship with our stakeholders at three levels: global corporate, country, and operating center. Our relationship at each of these three levels requires specific mechanisms adapted to our context in order to adequately identify their needs and expectations regarding our ethical, social, and environmental performance.
Additionally, we work to proactively and systematically identify and understand their expectations in relation to our sustainability performance as well as in order to integrate them into our internal decision-making processes.
Analysis and relations with stakeholders
Identify the key stakeholders and classify them based on their impact and dependence on the company.
Identify possible matters
Create a long list of potentially material matters.
Prioritize matters
Assess and prioritize the material matters based on the importance for stakeholders and on the analysis of the social, economic, and environmental impact of each matter for the company.
Select matters in materiality matrices
Map the matters on a materiality matrix and define the decision areas: material matters, relevant matters, and non-material matters.
The company's stakeholder map is defined by the different areas in charge of its management. At Repsol we evaluate the channels and frequency of communication as well as their expectations for information regarding our management to ensure that the relationship process is adequate. The identified stakeholders are shown below:
Stakeholders (Level I) | Stakeholders (Level II) |
Shareholders, investors, and financial institutions | Shareholders, Investors, and credit rating agencies; Consultants, advisors, and proxy advisors; Financial analysts; Market analysts |
Customers | Service stations, Lubricants, Asphtalts, and Specialized Products, Chemicals, Direct Sales and Aviation, Electricity and gas, New mobility businesses |
Society | Union organizations, Local communities, Indigenous communities, nonprofits, Academia, Civil society observatories, R&D+i, Citizens |
Public institutions and organizations | International bodies and institutions, State bodies and institutions, Local bodies and institutions, Authorities, and other public agencies and Governments |
Employees | Management, Leaders, Professionals, Administrative/ Operational/ Junior/ Other Staff |
Media | General Journalists (Digital, traditional, and social media formats) Specialized journalists (Digital, traditional, and social media formats) |
Partners, competitors, and business associations | Joint operation / activity partners, Active partners not operated by Repsol, Chambers of commerce and other business associations, Competitive companies in the sector, Companies in other sectors |
Suppliers and contractors | Goods suppliers and services suppliers |
Based on the documentary analysis of internal and external sources, as well as through interviews and meetings with the corporate and business areas and the preparation of a materiality benchmark for other companies, we have prepared a base list of 34 potentially material matters, grouped into 10 pillars that contribute specifically to the SDGs:
Materiality thresholds are designated and matrices are composed. A global company matrix has been elaborated as well as two business matrices (Upstream and Downstream) and eight specific stakeholder matrices.
This greater detail satisfies the objective of integrating materiality throughout the company and enables us to delve into those aspects that are most relevant for the different businesses and stakeholders, thus helping us to improve the relationship with our stakeholders.
The Repsol matrix is made up of 21 material matters that highlight the importance of issues related to climate change and safe operation as well as transparency and channels of dialogue with stakeholders.
These studies enable us to learn about the matters that most interest us — both internally and externally — and are used to set forth measures that improve our risk management and sustainability performance and also to report on the Company's performance regarding the identified aspects.
We conclude this systematic process with the various means of communication that the business units establish with their stakeholders, through dedicated channels on the Company's website, the launch of surveys, the organization of workshops to exchange best practices, or the dissemination of matters of interest, as well as by sending communication bulletins, among others.
Once each stakeholder's expectations have been evaluated, we analyze the results so that we may take them into consideration in our decision-making.