Repsol outlines transition financing plan

Firm will use green and transition bonds to finance various emissions reductions projects

Spanish oil and gas firm Repsol has laid out a plan for the financing tools it will use to achieve its transition to net-zero emissions. Repsol has set a roadmap to become a net-zero emissions company by 2050, with a reduction in carbon intensity of 12pc below a 2016 baseline by 2025, 25pc by 2030, and 50pc by 2040. These figures formed the basis of the firm’s 2021-2025 strategic plan, which was presented to investors in the first half of 2020. 50pc – Repsol’s targeted emissions reductions by 2040 Repsol has now released a framework showing how it expects to finance this plan using three types of financial instruments. Green bonds will be used for renewable energy and hydrogen projec