Sustainability objectives

This model takes shape in the Sustainability Plans with ambitions, medium-term objectives and annual lines of action in each of the pillars of the model. Learn about the objectives that reflect our commitment to the sustainable development of society and the environments in which we carry out our activities.

Climate change objectives  

To be a net zero emissions company by 2050, while limiting global warming well below 2°C and complying with the Paris Agreement and in line with what is required by society.

Objectives for 2023:

  • Drive the progressive decarbonization of our suppliers and contractors. 

Objectives for 2025:

  •  Achieve a reduction of 1.5 million tonnes of CO2e in the Refining Spain, Refining Peru, Chemicals, and Exploration & Production businesses.
  • Reduce routine flaring by 50% in the Exploration and Production business (operated) compared to 2018.
  • Reduce methane emissions intensity by 25% compared to 2017 in the Exploration and Production business.
  • Reduce carbon intensity indicator by 12% based on 2016.
  • Increase low-carbon electricity generation capacity to 7,500 MW.
Climate Change SDG

Environmental objectives


To be a company with excellent environmental management and integrated decision-making, minimizing the consumption of virgin resources and waste generation, optimizing our production processes and increasing the useful life of our products.

Objectives for 2023:

  • Train and raise environmental awareness among everyone involved in purchasing and contracting processes.
  • Implement environmental criteria in the management of suppliers and the contracting processes for goods and services with high safety and environmental risks.
  • Build and start up the first advanced biofuels production plant at the Cartagena refinery with a capacity of 250,000 tonnes from waste.

Objectives for 2025:

  • Develop cross-cutting circular economy projects.
  • Have integrated water management in all our assets and industrial centres in the Exploration and Production, Refining and Chemicals businesses.
  • Quantify environmental impacts and dependencies under natural capital criteria, carrying out pilot projects in the company's main businesses.
  • Have effective risk management mechanisms in place for new acquisitions and business linkages.
  • Train and raise awareness of the environment among all employees.

Objectives for 2030:

  • Achieve a sustainable biofuels production capacity of 1.3 million tonnes by 2025 and more than 2 million tonnes by 2030, of which more than 65% will be produced from waste and up to 100% to meet market or regulatory demands.
  • Recycle the equivalent of 20% of our total polyolefin production by 2030.
Environment SDG Logos

Innovation and technology objectives


To be a company that drives technological innovation as a lever for transformation towards more sustainable business models. We want to focus on addressing the current challenges facing energy companies such as reducing energy intensity and CO2 emissions, improving the profitability of current assets through sustainable and competitive production, differentiating products from the competition, differentiating solutions based on data, and providing customer-oriented energy services.

Objectives for 2022:

  • Double the percentage of investment in technology projects (40% of total investment in internal R&D projects) aligned with the pillars of the Sustainability Model.
  • Continue to invest more than 80% in start-ups aligned with the pillars of our Sustainability Model.
  • Promote new digital solutions that contribute to efficient and sustainable power generation, optimising processes and meeting new forms of energy consumption.
Innovation and technology SDG logos

Safe operation objective

We aim for our zero accidents goal, demanding a high level of safety in our processes and facilities with special attention to protecting people and the environment around us, also working to raise awareness among our suppliers and contractors.

2023 Objectives in Industrial Safety:

  • Train and raise safety awareness among everyone involved in purchasing and contracting processes.  
  • Implement standardized safety criteria in the management of suppliers and in all contracting processes for goods and services with high safety and environmental risks.
2025 Objectives in Industrial Safety:
  • Implement processes in all the Company's businesses to ensure risk management throughout the life cycle of assets and projects.
  • Exercise leadership in safety clearly, proactively and systematically at all levels of the organisation, starting with the management team.
  • Improve personal and process accident rates in accordance with the paths calculated on the basis of the best performance of companies in the sector. 
  • Implement Repsol's safety requirements in all new acquisitions and links with commercial relations. 
2023 Objectives in Cybersecurity:
  • Keep cybersecurity awareness for everyone in the company up to date.
  • Incorporate the latest advanced technical protection technology into our infrastructure, both central and operational.
  • Retest and update our cyber incident response plans.
  • Constantly analyse evolving threats to guide our protection systems and processes.
  • Expand our cyber intelligence and offensive security capabilities.
industrial safety sdg

People-focused objectives

We are committed to people and to promoting their development and their social environment’s development. Therefore, our ambitions are to establish solid relationships with the communities where the Company is present, ensure the safety of people with full respect for human rights, support people and promote their development and their social environment’s development and ensure equal opportunities as an element that distinguishes us as an integrated, diverse, and inclusive company.

2021-2025 Objectives in Human Rights:

  • Be in the top quartile of performance according to Corporate Human Rights Benchmarking (CHRB). 
  • By 2022, create annual committees with extractive companies in operated countries to discuss best practices and ways to improve human rights management.
  • By 2023, train and raise human rights awareness for everyone involved in procurement and contracting processes. 
  • By 2025, contribute to the 2030 Agenda through our social projects, benefiting 800,000 people. 

2025 Objectives in Commitment to Employees:

  • Establish parity in recruitment processes and ensure the use of inclusive diversity criteria at all stages of career development with the goal of reaching 35% of women in leadership positions. Be recognised as a diverse and inclusive company.
  • Carry out identified initiatives that promote LGBTI inclusion.
  • Have a flexible working scheme in an environment of new ways of working, based on trust, responsibility and self-management of the team.
  • Exceed legal obligations in relation to the employment of people with disabilities in the countries in which it applies and inclusion activities for other vulnerable groups.
  • Ensure the implementation of the strategic framework for occupational health and wellbeing in all the countries where Repsol operates.
  • Have a global pandemic management action plan that allows us to mitigate the risk of interruption of our activity.
People SDG

Ethics and transparency objectives

We act responsibly and with integrity wherever we are present. Based on this, our ambitions are to ensure that there are no cases of corruption in the activities carried out by the Repsol Group to achieve the highest national and international standards in matters of good governance and be publicly recognised as a company with integrity and transparency in fiscal matters.

2023 Objectives in Anti-Corruption:

  • Train and raise awareness of compliance issues among everyone involved in procurement and contracting processes.

2025 Objectives in Anti-Corruption:

  • Consolidate the compliance model, adapting to the evolution of the company and focusing on the management and culture of compliance.
  • Formalise self-monitoring models adapted to the specific regulatory requirements of countries and businesses with higher risk.

2025 Objectives in Good Governance Practices:

  • The Board of Directors will continue to promote the company's sustainability by incorporating the best practices available and the creation of long-term value for its stakeholders.

2023 Objectives in Responsible Tax Policy:

  • Eliminate presence in tax havens (except for unavoidable and legitimate business reasons) and streamline the corporate structure.
  • Be considered as a "transparent" or "responsible" entity by the stakeholders who carry out evaluations.
  • Promote cooperative relations and the search for amicable solutions with tax administrations.

 

Ethics SDG