NEWS COMMENTARY

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

Published:
December 12, 2019
Services:
Government & Non-Profit More...
Priorities:
Asset Management More...
Activities:
Other More...
Very important

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.

For the original news article, click here .


Further Reading

Oil industry faces challenges similar to tobacco as scrutiny of its role in environmental pollution intensifies

News Commentary | March 19, 2021

The Guardian published a very thoroughly researched article today that shows, with actual quotes and a timeline, how the oil industry has been aware of the detrimental health effects caused by the large‑scale use of its products since the 1960s. This opens the door to litigation similar to what the ... Not part of subscription

Risk aversion is the oil industry's biggest risk; it must rekindle its pioneering spirit or perish

Analyst Insight | February 28, 2022

The oil industry has always harbored two spirits. On the one hand, the industry has always been a pioneering industry. It has gone out to the most desolate, dangerous, and remote places on the planet to find oil and gas, and it has then proceeded to put complicated and expensive equipment in those ... Not part of subscription

Amcor launches startup pitch competition for sustainable packaging

News Commentary | April 11, 2022

Amcor plans to award USD 250,000 (in the form of a convertible loan) as well as partnership support to five winning companies with innovative technologies or, notably, business models. An open competition can be an attractive way to engage with startups, but requires considerable time and effort to ... Not part of subscription