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New2011-2020
carbon strategy

Repsol shares the concerns of governments, citizens and society as a whole on the impact that human activity is having and will continue to have in the future on the climate. We promote initiatives to reduce carbon intensity in all of our businesses and the development of non-fossil energies.

In 2011, we reviewed and updated our carbon strategy. We analyzed the company's existing initiatives to reduce carbon intensity in all of our businesses, identifying synergies between these initiatives.

The drivers of Repsol's carbon strategy are:

1. Compliance with regulatory commitments and obligations

We share the concerns of governments, citizens and society as a whole on the impact that human activity is having and will continue to have in the future on the climate. Our commitment to society is based on the principles described in our Position on Climate Change.

One of these principles is to collaborate with governments of the countries where we operate to facilitate compliance with national and international commitments, particularly the Kyoto protocol and its subsequent developments, and to provide constructive support for the development of new regulations.

2. Reducing carbon intensity in our value chain

Our strategy promotes initiatives that reduce the intensity of carbon throughout the lifecycle of our products.

Therefore, our goal is to document our footprint for the entire company, which entails extending the scope of emissions inventories to include suppliers, customers and our own activities. We are also committed to making progress in calculating the carbon footprint of our products by establishing the most appropriate calculation methodology.

Repsol is also firmly committed to improving energy efficiency in its processes. Energy efficiency has the greatest short-term potential to reduce energy consumption and greenhouse gas emissions.

Although currently there is uncertainty on how quickly and fundamentally the world will turn towards a low GHG emission economy, our long-term vision includes a firm commitment to technological development, intensifying R&D projects aimed at the elimination and use of CO2 by converting it from waste into a resource.

3. Developing non-fossil energy initiatives

In our company, we are taking action to develop non-fossil energies through the New Energies business unit created in 2010 to identify business opportunities in fields such as bioenergy, renewable electricity generation and the electrification of transport.

Additional information
on the Carbon Disclosure Project(50)

Every year, Repsol participates in the Carbon Disclosure Project (CDP), the most important global initiative to analyze the carbon strategies of the companies in the FTSE Global Equity Index series (Global 500). All Repsol's responses to the annual CDP questionnaire can be seen at: https://www.cdproject.net

The CDP questionnaire provides more details on the company's carbon strategy regarding:

  • Progress against our objectives for reducing emissions
  • Trial and ongoing initiatives for reduction of emissions (type, description of the activity, annual GHG emissions prevented, monetary savings, investment required and repayment period)
  • Methods used to promote our investments in carbon reduction-related activities
  • Risks and opportunities presented by climate change (regulatory, physical, and changes in other developments related to climate)
  • Scope 1 and 2 emissions, including a breakdown by country, business and installation, and indicators of emissions intensity
  • Scope 3 emissions
  • External verifications of Scope 1, 2 and 3 emissions

The information contained in this Report, on our corporate website repsol.com and in our CDP submission constitutes the Repsol information on climate change

More information on sustainability ratings at indices.repsol.com

(50) The information available in the response to the CDP 2011 questionnaire is relative to data from 2010 and previous years.