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The Repsol Model of Corporate Responsibility

We have created Corporate Responsibility Committees in four of the countries where we operate: Bolivia, Ecuador, Spain and Peru.

In April 2011 we approved the Regulation for the Corporate Responsibility Function, formalizing Repsol's current model of Corporate Responsibility (CR). This is the way the company as a whole contributes to sustainable development.

This model includes:

Model of Corporate Responsability

  • Our values and principles of action arising from the commitments we have made through our internal policy on CR-related issues, stances taken and adherence to the principles of various international initiatives.
  • The Corporate Responsibility Coordination System, consisting of four elements:

Corporate Responsability Coordination System

    • Knowing the expectations of stakeholders (authorities, shareholders, investors, employees, customers, suppliers, communities, partners, etc.) concerning the company's CR-related performance.
    • Revising CR-related performance and comparing this to the expectations of stakeholders on a corporate, national and operating center level.
    • Bringing performance closer to expectations by reviewing company operating processes, training programs, awareness raising or strategic social investment. Each action includes specific performance indicators. All these actions form sustainability plans; these are commitments on which we issue public reports.
    • Measuring progress using reputation metrics.
  • Corporate Responsibility governance and coordination bodies: The Strategy, Investment and CR Committee of the Board of Directors, the Corporate CR Committee and the National CR Committees.

Corporate Responsibility Committees

The Corporate CR Committee, comprised of 14 executives and created in 2009 met three times this year. The subjects they discussed and took decisions on included: Monitoring the 2012 sustainability plan, updating the sustainability plan with a 2013 horizon, a human rights training course for company employees, analysis of external expectations of stakeholders identified in 2011 and our crime prevention model.

During 2011 we set up four national CR Committees in the countries where we have more diversified operations.

The tasks to be undertaken by each national CR Committee include:

  • Apply the CR Coordination System on a national and operating level
  • Consolidate sustainability plans through actions that enable us to bring our performance closer to stakeholder expectations
  • Follow-up on these plans and, if necessary, recommend corrective actions to be taken by the units responsible for their management
  • Determine national strategic social investment needs
  • Understand and direct information presented in the national CR Report, if any
  • Understand and direct information presented in national-level public information arising from CR-related commitments made publicly by Repsol.
Country Creation date Number of meetings Number of people Areas represented
Peru June 14 2 14 Procurement, LPG, LNG, Marketing, People and Organization, Community Relations, Refining, Communication and External Relations, Corporate Safety, Safety and Environment, Legal Services and Upstream.
Bolivia July 17 2 8 Procurement, People and Organization, Community Relations, External Relations, Corporate Safety, Safety and Environment, Legal Services and Upstream.
Ecuador July 27 2 15 Procurement, Repsol Ecuador Foundation, LPG, People and Organization, Community Relations, External Relations, Partner Relations, Corporate Safety, Safety and Environment, Legal Services and Upstream.
Spain December 13 1 15 Audit, Procurement, Communication, Asset Management, LPG, Marketing, New Energies, People and Organization, Chemicals, Refining, Corporate Responsibility, Safety and Environment and Upstream.