Issue 24/2020 - Repsol accelerates the energy transition

Repsol accelerates the energy transition

Repsol recently announced that it will invest 18.
3 billion euros between 2021 and 2025 to accelerate the company's energy transition and achieve its long-term goal of
net-zero carbon emissions by 2050.
Repsol said it would decarbonize its portfolio and establish a new operating model, with €5.
5 billion of total investment by 2025 going to low-carbon and renewable energy businesses
.
In the current economic climate, the new strategy will be "highly flexible" and will focus on ensuring its fiscal strength and efficiency over the next two years, while prioritizing the energy transition and renewable energy projects
.
From 2022, the focus will shift to accelerating growth
.
The strategic plan will enable industrial businesses to remain competitive, adjust production capacity, build a new carbon-neutral platform, and reduce CO2 emissions by 2 million tons/year
.