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Our strategy

Our main concern is the protection of the people who work at our installations, our customers and all the inhabitants of the communities where we operate. This requires a substantial commitment at all levels in our organization, for this, the Executive Committee sets out the objectives and the strategic guidelines in terms of safety and environmental issues.

We demand a high level of safety in all our operations, and carry them out in accordance with strict safety and health standards. This requires a substantial commitment at all levels in our organization. Therefore, the Executive Committee sets out the objectives and the strategic guidelines in terms of safety and environmental issues, which form the basis for the targets and action plans of all company businesses. These plans identify actions required for the continuous improvement of our management, investments and associated expenses, and the adaptations to new legal requirements. In 2011, investment in safety actions amounted to €125 million, while expenses totaled €145 million.

Moreover, the annual target established for the Lost Time Injury Frequency Rate forms part of the annual targets in the business units and for Repsol employees with variable remuneration based on achieving objectives. Furthermore, this objective is also included in the company's multiple-year variable remuneration schemes.

Since 2005, the Audit and Control Committee of the Board of Directors has overseen and directed the policy, guidelines and the company's targets in terms of safety and environment.