GlobalData offers a comprehensive analysis of Repsol, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Repsol‘s ESG performance. GlobalData’s company profile on Repsol offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Spanish energy company Repsol has committed to achieving net-zero emissions by 2050. The company has set specific goals for scope 1, 2, and 3 emissions, which include direct emissions from its operations, indirect emissions from purchased energy, and emissions from the use of its products. Repsol's latest filings mentioned the keywords 'Emissions' and 'Climate Change' most number of times in relation to 'Net Zero'. Repsol has accelerated the decarbonization process of its assets, becoming one of the leaders of the energy transition in Spain and the first company in its sector to commit to zero net emissions by 2050. The company has an interim goal of reducing absolute scope 1 and scope 2 emissions by 55% by 2030.
Repsol has taken several steps to reduce its emissions, including investing in technologies and processes for the transformation of waste to low-emission products. The company has also reviewed issues related to climate change in all the meetings held by the Commission in 2022. Training and informative sessions were held on various subjects, including energy transition and new technologies, cybersecurity, and emerging and climate change risks.
Through energy efficiency measures and the adoption of decarbonization solutions like renewable electricity generation and sustainable fuels, Repsol is actively working towards achieving sustainability in its operations. Notably, in 2022, the company achieved significant reductions in carbon emissions, particularly in its Marcellus gas production, and is actively involved in refining and chemical decarbonization programs while pursuing a roadmap for sustainable water management to address water scarcity.
In conclusion, Repsol has committed to achieving net-zero emissions by 2050. The company has taken several steps to reduce its emissions, including investing in technologies and processes for the transformation of waste to low-emission products.