Materiality analysis

Listening to our stakeholders

Our company, corporate areas, and business units have identified their stakeholders and have permanent and transparent channels and mechanisms for dialogue with them.

In Repsol, we work proactively and systematically to identify and understand stakeholder expectations in relation to our sustainability performance. Since 2005, we have annually conducted a materiality analysis in order to identify which issues are most relevant for our stakeholders. These issues are integrated into our internal decision-making processes, thus advancing in the creation of economic, social, and environmental value.

We structure our relationship with our stakeholders at three levels: global, business, and local. Our relationship at each of these three levels requires specific mechanisms adapted to our context in order to adequately identify their needs and expectations in relation to our ethical, social, and environmental performance.

How do we do it?

Through the materiality analysis, which we conduct annually based on the GRI reporting standard and in which we integrate the concept of double materiality, we analyze both the impact of our activities on the environment, as well as the Company's evolution, results, and situation. Our materiality analysis is integrated into the company and involves all those areas that interact with stakeholders. The results of the analysis are validated by the Executive Committee and the Sustainability Committee and are integrated into our Sustainability Strategy and deployed downstream through Sustainability Plans.

Material topics

Double materiality matrix

Impact materiality

- 1
  Air quality
- 2
  Water management
- 3
  Circular economy
- 4
  Biodiversity and ecosystems
- 5
  Energy transition and decarbonization technologies
- 6
  Adaptation to climate change
- 7
  Labor rights and employee satisfaction
- 8
  Accident rate and health
- 9
  Attacks on facilities and employees
- 10
  Diversity and equal opportunity
- 11
  Talent attraction, retention, and development
- 12
  Human rights
- 13
  Social commitment and community relations
- 14
  Sustainability in the value chain
- 15
  Customer satisfaction and safety
- 16
  Integrity
- 17
  Responsible tax policy
- 18
  Regulatory compliance
- 19
  Good governance and responsible leadership
- 20
  Responsible communication with stakeholders
- 21
  Cybersecurity

Why do we do it?

The results of the materiality analysis are integrated into the Sustainability Strategy and deployed through the Global Plan and Local Sustainability Plans. In this way we ensure that our strategy focuses on the areas that are most relevant to our stakeholders and to the company, adapting to a rapidly evolving environment with respect to sustainability issues. The actions set out in these Plans, both locally and globally, aim to improve performance and minimize the impact of identified sustainability risks. This allows the company to make strategic reflections and decisions that evolve the business model to ensure its economic, environmental, and social sustainability.

In addition, the materiality analysis helps us identify the issues of greatest relevance to Repsol and our stakeholders to report in the company's Integrated Management Report.

Conducting studies to identify expectations

These studies allow us to know the issues that are of most interest, both internally and externally, and are used to establish actions to improve our risk management and sustainability performance and to report on the company's performance in the aspects identified

This systematic process is completed with the different communication channels that the business units establish with their stakeholders, through dedicated channels on the company's website, launching surveys, organizing conferences to exchange good practices or disseminate issues of interest, as well as sending out communication bulletins, among others.

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

More information on sustainability at Repsol

Contact the Sustainability area

Phone

(+34) 917 538 100

Team

Meet the team