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Climate change

Our commitment to fighting climate change

More than 25 years in the fight against climate change

Landscape shot of the sky at dusk

We are the first company to take on the commitment of reaching net zero emissions by 2050, and we continue working toward the goal of limiting the increase of the average global temperature to 2°C, in line with the Paris Summit and the
UN Sustainable Development Goals.

Josu Jon Imaz

"We are aligning our business plans with the objectives of the energy transition through specific plans aimed at progressively reducing our carbon intensity in the coming decades."

Josu Jon Imaz, Repsol CEO

Our objectives

Reduce our Carbon Intensity Indicator (CII) by 12% in 2025, 25% in 2030, and 50% in 2040.

2021-2025 Emissions reduction plan scope 1 and 2: 1.5 Mt CO2e.
Reduce the intensity of methane emissions in our operated assets by 25% in 2025 and achieve a value of 0.2% in 2030, compared to 2017.
2025 objective: Reduce routine flaring in our operated assets by 50% compared to 2018
Low-carbon energy: Reach a low-emissions electricity capacity of 7.5 GW in 2025 and 15 GW in 2030.

Advancing towards emissions reduction

Committed to transparency
Sector leading partnership
Recognition from investors
Our globally-recognized work
Collaborative platform
Participating in the debate against climate change
Water droplets on a leaf

Committed to transparency

Since 2007, we have been verifying the GHG emissions inventory of our Refining, Chemistry, and Exploration and Production operated assets according to the ISO 14064 international standard, which establishes the requirements for designing and elaborating GHG inventories and stipulates how reductions in emissions must be quantified and reported.

99% of our direct and indirect emissions are verified in accordance with the EU-ETS or ISO 14064.

OCGI Participants posing for a photo

Sector leading partnership rising to the CO2 challenge

The fight against climate change has become such an important challenge that companies in the energy sector decided to join forces to form one large partnership called the Oil & Gas Climate Initiative (OGCI). This voluntary, industry-led initiative is headed by CEOs from the 13 major energy companies in the world who want to lead the sector's response to the threat of climate change.

Among the main focuses of the OGCI is the implementation of CCUS (Carbon Capture, Use, and Storage) technologies and the investment in companies and startups that are developing these technologies through its OGCI Climate Investments fund created in 2016.

Offshore windmill. TPI logo.

Recognized by investors worldwide

Transition Pathway Initiative (TPI) is an association that unites 60 of the largest international investors and that has recognized us as one of the only companies in the sector worldwide to have a strategy compatible with the Paris Agreement objectives. Additionally, at the end of January 2020, we were included in the FTSE TPI Climate Transition Index, the only stock market index aligned with the objectives of the Paris Agreement.
Marine platform with the CDP logo

Our globally-recognized work

CDP created the largest global database used by investors as reference to evaluate the leading corporations' results in energy and carbon management. As of today, we are among the 26% of the companies that have reached the leadership scoring band in the Oil & Gas sector, surpassing the average score of European companies and the average in the sector.

Our presence and rating in this sustainability index and others is proof of our ability to gain the trust of institutional investors and recognition for our commitment to transparency.

Shot of wind turbines and solar panels near a city

Collaborative platform for energy transition

We jointly developed a collaboration commitment to energy transition alongside seven leading companies in the sector. The principles agreed on support collective industry acceleration to contribute to the Paris Agreement and make progress in reducing emissions, among others.
Earth from space, representing our Partnerships worldwide

Actively taking part in the debate against climate change

We take part in technical work groups dedicated to exploring the various scenarios of compliance with climate objectives by identifying the most effective methods for achieving these ambitious goals.

Our actions against climate change