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Repsol and sustainability

Memberships in global initiatives

Earth as seen from space

A global commitment

We actively join international initiatives aimed at implementing sustainability principles. The 2007 UN Climate Neutrality Strategy underscores the advantages of harmonization as a common approach that brings greater impact, lowers transaction costs, leads to the development of common tools, ensures comparability, and facilitates joint decision-making.

Repsol is an active member of the UN Global Compact and the IPIECA Executive Committee, where it works under the framework provided to call on companies to align how sustainability is integrated in their activity. This enables us to anticipate how governments will act by adapting our strategy to national regulations.


Global Oil and Gas Industry Association For Environmental and Social Issues (ipieca).

Since 2002, IPIECA's efforts have focused on helping member companies to improve their management systems by establishing and disseminating social and environmental good practices in the oil and gas industry. We form part of the Executive Committee and Strategy and Planning Committee. We also participate actively in a number of working groups, including: Biodiversity, Water, Climate Change, Health, Oil Spills, Reporting, Social Responsibility, and Business Relations.
Initiatives and Memberships. OGCI (Oil and Gas Climate Initiative) logo.

Oil and Gas Climate Initiative (OGCI)

The Oil and Gas Climate Initiative is an industry-led partnership whose leaders seek to stimulate the sector's response to the threat of climate change by encouraging net zero emissions and by supporting the objectives of the Paris Agreement. Headed by CEOs from some of the largest energy companies in the world, OGCI members account for more than 30% of global oil and gas production. The OCGI Climate Investment Fund dedicates more than $1 billion to investing in companies that work toward decarbonizing the oil and gas, industrial, and commercial transportation sectors.

Initiatives and Memberships. Climate and Clean Air Coalition – Oil & Gas Methane Partnership logo.

Climate and Clean Air Coalition – Oil & Gas Methane Partnership

Reducing fugitive methane emissions is one of the most relevant issues in our sector: the greenhouse effect of this gas is 21 times more powerful than that of CO2. In order to address this issue, UNEP (United Nations Environment Program) seeks to bring together different sectors through the ‘Climate and Clean Air Coalition’ to commit to improving air quality, and has therefore launched a voluntary initiative to reduce methane emissions, specifically focused on the oil & gas sector. This sector ranks second in terms of methane emissions, after the agriculture sector.

At Repsol, we make efforts to detect and mitigate methane emissions through programs such as Hybrid LDAR (Leak Detection And Repair), which we apply in our exploration and production facilities and in our refineries.

By partaking in this initiative, we strive to boost the analyses of our emission sources, and we develop mitigation plans in order to align ourselves with the best standards available. UNEP offers its support in all these tasks, and also acts as our point of contact with the rest of companies, institutions, and governments that are also part of the initiative, eliminating barriers. This allows us to find technically and economically feasible solutions for a common goal: reducing methane emissions in our facilities.

Initiatives and Memberships. World Bank Group logo.

World Bank Group – Zero Routine Flaring by 2030

Estimates by the World Bank show that 140 billion cubic meters of natural gas are burned in flares each year. This means that over 300 million tonnes of CO2 are released into the atmosphere, a similar amount to that emitted by Spain or the state of Alberta, for example. Sending gas to a flare or flaring is a safety measure that prevents overpressure at our facilities. However, at times, for technical or economic reasons, part of the gas production may be flared routinely. The routine flaring of gas means not only increased CO2 emissions but also a loss of production and fuel that is not used in our processes. 

By joining this initiative, we are committing to seeking technically and economically viable solutions to minimize routine flaring as soon as possible, and not later than 2030.

Numerous governments, institutions, and other companies in the oil and gas industry are also part of this initiative, so that joining it opens doors for us to cooperate with them in searching for opportunities and developing projects for reducing flaring. 

It is important to note that this initiative focuses on routine flaring and not non-routine flaring, which is done for safety reasons but should also be reduced as much as possible.

Initiatives and Memberships. Voluntary Principles on Security and Human Rights logo.

Voluntary Principles on Security and Human Rights

We are members of the Voluntary Principles on Security and Human Rights Initiative, which aims to ensure the security of our operations in sensitive areas and conflict zones through work procedures that guarantee respect for human rights.
Initiatives and Memberships. International Oil and Gas Producers (IOGP) logo.

International Oil and Gas Producers (IOGP )

The IOGP is an organization that represents the exploration and production industry. We are a member and have representatives on the following committees and working groups: EU Committee, Energy and Climate Committee, and Marine and Environment sub-committee.
Initiatives and Memberships. International Energy Agency (IEA) logo.

International Energy Agency (IEA)

An inter-governmental organization that gives advice on economic policy to its 29 member countries. Its policies are based on ensuring energy supplies, economic development, and environmental protection.
The American European Community Association (AECA) logo

American European Community Association (AECA)

A transatlantic alliance that serves as a platform for discussing key global economic, political, and business issues. It is an independent, non-profit, non-partisan association that promotes open dialogue on a variety of issues with the aim of improving international cooperation and understanding.
Initiatives and Memberships. Business and Industry Advisory Committee (BIAC) logo.

Business and Industry Advisory Committee (BIAC)

An organization of the business community in OECD countries that contributes to companies taking OECD decisions into account in their decision-making processes. We are on the Investment and Taxation Committees, and we took part in a public consultation on transfer prices at the OECD headquarters in Paris.
Inicitiatives and Memberships. United Nations Global Compact logo.

United Nations Global Compact

We have been members of the United Nations Global Compact since 2002. The aim of the Compact is for companies like ours to put into practice and promote the Ten Principles of the United Nations Global Compact on human rights, working conditions, the environment, and the fight against corruption in our strategy and operations. 

We also belong to local networks in Spain (Spanish Global Compact Network), Bolivia (Bolivian Corporate Social Responsibility Corporation), and Ecuador (Ecuadorian United Nations Global Compact Network).

Task Force on Climate-related Financial Disclosures (TCFD) logo

Task Force on Climate-related Financial Disclosures (TCFD)

The TCFD was established in 2015 by the Financial Stability Board (FSB) at the request of G20 leaders. The FSB is an international organization that monitors and makes recommendations concerning the global financial system.

The TCFD has developed a framework for companies to disclose information regarding the financial impact of climate change-related risks and opportunities. This will help companies integrate this information into their strategy and governance, in addition to associated goals and metrics.

The overall aim is for companies to publish clear, coherent, and substantial information that will prove useful to investors and other stakeholders in their decision-making.

In 2018, our CEO signed on Repsol’s support to the TCFD’s recommendations, which have served as the base for the structure of the climate change section of our management reports since the 2017 version.

Papel coat of arms of Francis I.

Energy transition summit at the Vatican

We've added our signature to agreements concerning carbon pricing and transparency in sector investments.
EITI logo

Extractive Industries Transparency Initiative (EITI)

Repsol is a founding member of the Extractive Industry Transparency Initiative (EITI) and it is committed to its standards. This initiative was born in October 2002 with the aim of promoting transparency and accountability in natural resource-rich countries. EITI sets a global standard for companies to publish what they pay and governments to report what they receive, in a process that emphasizes the participation of multiple stakeholders (companies, governments and NGOs), thus strengthening the cooperative relationships of these companies with administrations. EITI is supported by more than 40 oil, gas, and mining companies and nearly 35 countries.