Repsol maintains a risk profile aligned with low-to-medium risk tolerance, which is suitable for the business model of a global, integrated energy company that operates across the entire value chain in a range of diverse activities. This commitment combines quantitative and qualitative elements based on criteria and principles that are inherent to our strategy, culture, and values.
Repsol's senior management not only sees the IRMS as a tool to define the company's strategy but also to improve operations and flexibly taking on critical situations, coming out stronger.
For Repsol, the Risk Map is the key component that identifies the relevant risks and classifies them according to their importance. To this end, the company has a methodology that makes it possible to easily, comprehensibly, and substantially characterize risks and quantify the potential financial, reputational, and personal impact that the business unit or area could undergo in the event that the risk occurs.
Consequently, Repsol annually produces a company-wide, consolidated Risk Map. A large number of experts from Repsol's businesses/areas contribute to this map, which provides us with a global view of the key risks using a common metric and allows us to identify efficient mitigation measures.
See the report for more information on Repsol Group's main risk factors.