SPANISH HYDROGEN ASSOCIATION
REPSOL S.A.
Company’s description
We are a global multi-energy provider that strives to drive the evolution towards a low-emissions energy model. We have over 25,000 employees and boast assets across 34 countries. We look for energy solutions that meet people’s needs and safeguard their well-being. Thus, our mission is to supply energy to society in an efficient and sustainable way.
With this ambition in mind, we are the first energy company to commit to reaching net-zero emissions by 2050. To achieve this, we are aligning our business plans with the goals of the energy transition and strengthening our profile as a customer-focused multi-energy supplier. We have specific plans to reduce our carbon intensity over the coming decades: 10% by 2025, 20% by 2030, and 40% by 2040. With the technological advances of today, we envisage that we can achieve, at least, a 70% net emissions reduction by 2050, and we are committed to applying the best technologies to raise this figure, including CCUS. Also, we shall offset emissions through reforestation and other natural climate solutions to achieve net-zero emissions by 2050. The new strategic plan contemplates investments of €18.3 billion between 2021 and 2025, of which €5.5 billion – 30% – will be spent on low-carbon businesses.
The Technology strategy will allow us to have the best alliances and partners in innovative disciplines, giving support to businesses to improve their competitiveness.
Main lines of business of the entity
Repsol has evolved its organization by deploying four business areas (Upstream, Industrial, Customer-Centric, and Low-Carbon Generation), supported by more efficient corporate and service units. The new branch (Customer-Centric) will become the leading multi-energy supplier in Ibera, increasing the weighting of low-carbon energy and developing digital products and tools. The new transversal loyalty program will grow from the existing 2 million digital customers to 8 million by 2025.
