Repsol adjusts its results to become a net zero emissions company by 2050
(WorldNews Spain)

Repsol posted a net income of -3.816 billion euros in 2019 as a result of the adjustments undertaken to lay the groundwork for the company`s new strategic orientation to reach net zero emissions by 2050. This result, compared to the 2.341 billion euros achieved in 2018, essentially reflects a correction of 4.849 billion euros in the accounting value of certain assets after assuming a new crude oil and gas price scenario consistent with the climate targets of the Paris Agreement. On December 2, 2019, Repsol announced that it was orienting its strategy to become a net zero emissions company by 2050, making it the first in its sector to set this ambitious target consistent with the goals of the...