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Sustainability Our model

A model based on long-term objectives

We go beyond what is legally required of us and align our sustainability model with the company's strategy based on the following lines of action:

  • Identifying the most relevant sustainability issues for stakeholders and for Repsol
  • Setting long-term objectives and creating road maps to achieve them
  • Deploying these road maps in each one of our activity plans to integrate sustainability into our business's decision-making processes
  • Establishing control mechanisms to ensure compliance with best practices in sustainability, measure our progress, and achieve our objectives

Our model and stakeholders

Our company and our corporate and business areas have identified their stakeholders, with whom they maintain permanent and transparent dialogue channels and mechanisms. 

Additionally, we work to identify and understand their expectations with respect to our sustainability performance in a proactive and systematic way, in addition to integrating them in our internal decision-making processes. 

We structure our relationship with our stakeholders at three levels: corporate level, country level, and loperating center level. At each one of these levels, our relationship requires specific mechanisms adapted to our context in order to adequately identify their needs and expectations in terms of our ethical, social, and environmental performance. 

Expectation Identification Surveys allow us to learn about highly relevant internal and external matters. They are used to take actions that improve our risk management and report on the company's performance in the identified aspects. 

We complete this systematic processes through the different communication channels that the business units have established with their stakeholders, dedicated channels on the company's website, the launch of surveys, and the organization of sessions to exchange good practices or disseminate matters of interest, in addition to sending out newsletters, etc.

Once the expectations of each stakeholder have been assessed, we analyze the results and take them into account in our decision-making processes.


Global
Employees
International global governance bodies
ESG investors
Civil Society:
International NGOs
Union network
Media
Country
Employees
Public organizations and institutions
Civil Society:
Ethical, social, and environmental NGOs
Academic institutions
National union federations and organizations
Indigenous federations and associations
Business associations
Media
Suppliers and contractors
Members
Customers
Local
Employees
Public organizations and institutions
Civil Society:
Local communities
Local NGOs
Local academic scope
Local union federations and organizations
Business sector related to our activity: local business associations and representatives of SME associations that provide their services locally in our industry sector (including potential Repsol suppliers and contractors).
Other business sectors present in the local community—where applicable—that could potentially be affected by our activity (fishing, tourism, etc.).
Local associations
Media
Members
Suppliers and contractors
Customers

In 2016, we developed a materiality study, based on online surveys, in which we identified and prioritized matters of an economic, social, and environmental nature considered to be high impact and highly significant for the different stakeholders whom we consulted: employees, suppliers and contractors, investors, international organizations, and civil society representatives. 

Matters identified by the stakeholders consulted: 

Employees 

They expect us to take the necessary measures to favor participatory dialogue, active listening, and ongoing collaboration. For this reason, we inform on sustainability-related matters and the company’s actions in this regard. 

Suppliers and contractors 

They seek for us to share our best practices in order to improve their performance and participate in the bidding processes that will allow us to contract their services. In addition, they request greater clarity in the information that we share on performance evaluations. In 2016, we developed a program for SMEs (Small & Medium Enterprises) called “Responsible Collaborators,” designed in conjunction with the Spanish Network of the United Nations Global Compact, to strengthen basic sustainability concepts.

Investors 

They demand that we disclose our social, environmental, and governance performance for their decision-making. We maintain ongoing communication and dialogue with our investors. Our CEO, Josu Jon Imaz, leads senior leadership roadshows, responding to their demands for information on sustainability issues. 

Unions 

We have channels for communication and dialogue with workers’ representatives and the negotiating committees to address topics of interest and reach any corresponding agreements . We hold meetings through committees and commissions to monitor and guarantee the applicable collective bargaining agreements and pacts of the subsidiaries of the Group. 

International organizations 

They urge companies to implement their recommendations and best practices such as minimizing our environmental impacts, looking for local opportunities through training or employment promotion, and working with other enterprises or organizations. We agree that companies play a relevant role to boost the progress towards the sustainable development. 

Civil society 

They seek for companies to prevent and mitigate environmental and social impacts. Moreover, they expect us to be more proactive and transparent in providing information on their sustainability performance, as well as greater dialogue and collaboration with stakeholders. In addition to the sustainability information we disclose, we attempt to answer all the demands for information and participate in forums, congresses, and debates on this subject.