Repsol commits to net-zero emissions by 2050 as part of its decarbonization strategy

December 12, 2019
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As the first oil and gas company to commit to net-zero emissions by 2050, Repsol's decarbonization strategy will maintain a focus on reducing emissions in its core upstream and downstream business units while expanding new business with renewable assets. Repsol hasn't explicitly stated that it will stop exploring for new assets altogether despite earlier rumors in 2018, but the Spanish oil major is taking a novel approach that will predominantly focus on existing assets and consider environmental implications before making future exploration or production decisions. While we don't expect Repsol's peers to follow suit, traditional energy players will need to consider similar long-term approaches to keep up with the energy transition.

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