Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Repsol exhibits strategic policy engagement that is broadly misaligned with policy pathways for delivering the temperature goals of the Paris Agreement. Although Repsol supports climate action in its top-line communications, the company opposes GHG emissions legislation and advocates for the long-term role for fossil gas in the energy mix.
Top-line Messaging on Climate Policy: Repsol’s top-line messaging on climate policy is broadly positive, with exceptions relating to economic competitiveness. In its 2025 Climate Policy Engagement Review, published August 2025, the company specifically supported limiting temperature rise to well below 2°C with efforts to limit it to 1.5ºC. In the same publication, the company appeared to support government policies to achieve net-zero emissions by 2050, and highlighted the need for "international cooperation" on carbon pricing, without further details on its support for regulatory measures to price carbon into the economy.
However, Repsol often emphasizes the negative impacts of climate policy on economic development and industrial competitiveness, for example in its Climate Policy Engagement Review from August 2025. The company signed the Antwerp Declaration in February 2024, which advocated against EU Green Deal policies, calling for an EU Industrial Deal to revise existing climate policy and emphasizing competitiveness.
Engagement with Climate-Related Regulations: Repsol is negatively engaged on several areas of climate policy in the EU. For example, Repsol signed an April 2025 joint letter to EU officials which advocated to weaken various aspects of the EU Methane regulation for the energy sector.
In a June 2025 consultation response on the EU Industrial Decarbonisation Accelerator Act, Repsol broadly supported the act’s objectives to accelerate permitting procedures and investments in decarbonization projects. However, in the same response, Repsol advocated to weaken the implementation of several other EU regulations by calling for a “technology-neutral” policy approach, including the CO2 standards for light- and heavy-duty vehicles, the Net Zero Industry Act, and the Renewable Energy Directive Delegated Act on renewable fuels of non-biological origin (RFNBOs). Repsol also advocated for more technology neutrality in its April 2025 consultation response on the Clean Industrial Deal State Aid Framework (CISAF).
Positioning on Energy Transition: Repsol does not appear to support the energy transition, as it promotes the long-term role of fossil gas and internal combustion engine vehicles. In its corporate website, accessed July 2025, Repsol advocated for the role of fossil gas to replace coal power, without clear conditions for CCS or methane emissions abatement. Repsol chairman Antonio Brufau Niubó advocated for the long-term role of oil and gas, stating efforts to move away puts energy security at risk in the company’s 2024 Consolidated Management Report, published in February 2025. In an earnings call in February 2025, Repsol CEO Josu Jon Imáz appeared to endorse the Trump administration’s issuance of liquefied natural gas (LNG) export permits.
Repsol demonstrates a mixture of unclear and negative positions on the decarbonization of the transport sector. In its corporate website, Repsol advocates for the use of “renewable fuels” to decarbonize road transport, without clarifying a position on automotive electrification. However, CEO Josu Jon Imáz advocated for a “technology-neutral” approach, which includes internal combustion engine (ICE) vehicles powered by renewable fuels, over complete electrification in a March 2025 El Correo article. Chairman Niubó also appeared to oppose the phase-out of ICE vehicles by 2035 in the company’s 2024 Consolidated Management Report, published in February 2025.
Industry Association Governance: Repsol published a review of its industry association memberships in August 2025. In the review, it has listed its membership to industry associations, including details of the type of membership held, but with limited details of how the company influences their climate change policy positions. The review excludes the company’s membership to three actively-engaged associations, including Offshore Energies UK (OEUK) and the Instituto Brasileiro de Petróleo e Gás (IBP). The company identified one case of partial misalignment with the American Petroleum Institute (API), as it did in its 2023, 2022, and 2021 reviews, however, it continues to hold a membership with the API. Repsol also retains strong memberships to FuelsEurope, which engages negatively on climate-related policy, and Eurogas, which demonstrates mixed engagement.
A detailed assessment of the company's corporate review on climate policy engagement can be found on InfluenceMap's CA100+ Investor Hub here.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information, see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q3 2025.