Repsol, a leading energy company, has set target for net zero by 2050 as part of its commitment to combat climate change and Repsol aims to reduce its carbon emissions across all scopes. In 2022, the company prevented the emission of 337 Kt CO2e, contributing to a cumulative avoidance of 6.4 Mt CO2e from 2006 to 2022. By 2030, the company strives for a 55% reduction in absolute emissions for both Scope 1 (S1) and Scope 2 (S2). Scope 1 emissions refer to direct emissions from owned or controlled sources, Scope 2 emissions include indirect emissions from the generation of purchased electricity, heating, and cooling.

It is worth noting that Repsol has been recognized for its efforts in managing greenhouse gas emissions. The Transition Pathway Initiative (TPI) has consistently rated Repsol at level 4, Strategic Assessment, in its Management Quality analysis. This rating evaluates the quality of a company's GHG emissions management and its alignment with the energy transition.

Repsol has taken significant steps to reduce its emissions and achieve its net-zero targets. The company has accelerated the decarbonization process of its assets, positioning itself as a leader in the energy transition in Spain. Repsol has also committed to zero net emissions by 2050, making it the first company in its sector to do so. The company has been actively engaging in dialogue and collaboration with stakeholders, including submitting its climate strategy to an advisory vote and participating in a pilot project to define a zero net emissions standard.

Repsol has also emphasized the importance of transparency in reporting emissions. The company has committed to increasing transparency in reporting Scope 3 emissions, which include emissions from the total sales and end-user consumption of its products. This commitment reflects Repsol's dedication to addressing emissions throughout its value chain.

In conclusion, Repsol is committed to achieving net-zero emissions and has taken significant steps to reduce its carbon footprint. The company's efforts have been recognized by organizations like the Transition Pathway Initiative. By accelerating the decarbonization of its assets and increasing transparency in reporting emissions, Repsol is actively contributing to the global fight against climate change.

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