First major oil and gas firm sets zero-emission target for 2050

As the first oil and gas company, Spain's Repsol has set a goal to become carbon-neutral by 2050. "We are convinced that we must set more ambitious objectives to fight climate change," says CEO.

Photo: Carlos Jasso/Reuters/Ritzau Scanpix

Spanish oil and gas company Repsol has set a goal that it must be carbon-neutral by 2050.

In a statement, the company writes that it has set targets to reduce carbon intensity by 10 percent in 2025, 20 percent in 2030, 40 percent in 2040, bringing emissions to net zero in 2050.

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