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Climate change

Carbon pricing

Supporting carbon pricing

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We believe that a carbon price must be set for all productive sectors worldwide as a key element in policies to fight climate change.
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As such, each ton of CO2 will come with a price for everyone, from industry to end consumers. This would have a knock-on effect on their activity, make them aware of the problem, and change their habits towards a more efficient consumption and production model. The effect would be further strengthened with clear and transparent information on the costs and the repercussion on all those involved. Some advantages of carbon pricing are:

  • It offers a way to mitigate climate change at a lower cost for society.
  • It promotes innovative technologies that are compatible with the 2ºC scenario.
  • It gives companies an incentive to reduce their emissions by including the price in the final cost of all their products.

As a result, at Repsol we have established internal carbon pricing that we apply to all of our new investments. We have established the following prices: US$ 25t/CO2 in 2018 and US $40t/CO2 from 2025 onwards

Internal carbon pricing enables us to

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Evaluate and make decisions regarding our current and future investments.
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Ensure that the impact of our activities on climate change is monitored.
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Determine how climate policies affect our investments.
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Promote an energy-efficient design from the initial phase of the projects we undertake.