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Climate change

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

We are working to become a net zero emissions company by 2050. In order to continue making successful progress towards this goal, we have set intermediate targets to descarbonization for 2025, 2030, and 2040.

Learn about our net zero emissions commitment

Pillars for decarbonization

We are advancing in 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, electrification of processes, reduction of direct emissions, adaptation of production levels, and portfolio management as key pillars.

Renewable electricity generation

We build a portfolio of renewable electricity projects with asset portfolio rotation, with incorporation of partners, and funding of projects.

Liquid and gaseous renewable fuels

We provide solutions for sustainable mobility and other emission reduction alternatives, such as biogas and renewable hydrogen.

Carbon capture, use, and storage

We support new avenues for Carbon Capture, Use, and Storage (CCUS) technologies.

Multi-energy for customers

We are advancing towards a multi-energy model, focused on the supply of different sources of energy to adapt to the needs of our customers and European decarbonization objectives.

Other lines of action that support decarbonization

Carbon pricing

We've set an internal carbon price that we apply to all new investments.

Sustainable finance

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

Close-up of a person recycling used oil in a container

Circular economy

We have numerous initiatives throughout our value chain, with which we promote change and create the necessary synergies to accelerate it.

Endorsing 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.

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Report on industry associations and initiatives

As part of our steadfast commitment to the fight against climate change and the decarbonization of the economy, we've ensured that all the associations and initiatives in which we participate are aligned with the fulfillment of the goals set out in the Paris Agreement.

View report |PDF| 5.9 KB

Fight against climate change

We've joined international initiatives, such as OGCI, Concawe, Fuels Europe, and IOGP, that are aimed at improving collaboration for the development of people, the environment, safety in operations, and innovation.

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

Our position on climate change

Learn about the five principles that define our climate policy positions.

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

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