Presentation given during the Socially Responsible Investors Roadshow in 2014. Look up more information on the company's profile, its strategy, businesses and corporate governance: http://www.repsol.com/es_en/corporacion/responsabilidad-corporativa/
In Repsol, we work to meet the energy demands of our society without compromising that of future generations. Our main competitive advantage is in our people, and we work with a philosophy based on our values. We believe in innovative technology as a key element for building a sustainable energy model, which is embodied in the Repsol Technology Centre: leading center in Europe, where we promote R + D + i and from which we apply our motto: Let’s invent the future.
See the presentation of World Petroleum Congress, an event of great importance in our industry, and with the most relevant energy companies in the world.
Repsol posted net income in 2014 of 1.612 billion euros, supported by the strength of its integrated business model. This result represents a 724% increase over the 195 million euros registered in 2013, a financial year in which the company booked one-time cleanup charges related to the expropriation of YPF.
For more information, visit: http://ow.ly/Kc1B2
- Repsol reported adjusted net income of €1,707 million in 2014, a 27% increase from 2013, due to improved downstream results and asset divestments. Upstream results were penalized by lower crude oil prices and interruptions in Libya.
- Production grew 2.5% to 355 thousand boe/day excluding Libya. The reserve replacement ratio was 118% and proven reserves reached 1,539 Mboe.
- Strategic projects in Brazil, the US, Algeria, Spain, Russia and Bolivia are advancing and expected to contribute significantly to production growth in coming years.
Repsol: Align values to achieve business strategyRepsol
This document contains a case study on Repsol, a Spanish multinational oil and gas company. It discusses Repsol's business strategy of aligning its values to achieve its strategic goals. It provides an overview of Repsol's upstream, downstream and corporate business segments. It also summarizes Repsol's operations in international locations like Angola, where it has expanded to explore new oil and gas blocks, and the challenges of opening an office in Luanda, Angola. Finally, it discusses Repsol's focus on flexibility in its business strategy through geographic diversification of activities.
Growing through our strengths: Repsol's strategic plan is based on four basic pillars: upstream growth, maximizing downstream returns, maintaining our financial strength and generating competitive shareholder returns.
For more information, visit: http://ow.ly/Kc1HR
The document outlines the privatization and restructuring of YPF, Argentina's state-owned oil company. It discusses:
1) The factors that led to the privatization's success, including strong political leadership committed to privatization, a strategy to restructure the company rapidly into a lean organization, and improving financial conditions in Argentina.
2) How YPF was transformed from an inefficient organization with 50,000 employees into an efficient company with around 6,000 employees through layoffs, selling $2 billion in non-core assets, and focusing only on oil and gas.
3) The restructuring plan involved forming a new high-level organization with two business units, ensuring efficient processes and policies, and
The Plan centers on Repsol’s ability to generate value, even against the backdrop of low petroleum prices, placing particular importance on the management of our asset portfolio, and maximizing efficiency. More info at: repsol.com
Seplat Petroleum Development Company Plc is a leading independent oil and gas company in Nigeria. In 2016, the company faced challenges from low oil prices and disruptions to oil production and exports in Nigeria. Seplat's working interest production and revenue declined significantly compared to 2015. However, the company maintained financial discipline by reducing capital expenditures and engaging with lenders. Seplat aims to grow through portfolio expansion and diversification, focusing on opportunities that can offset risks and provide near-term growth.
In Repsol, we work to meet the energy demands of our society without compromising that of future generations. Our main competitive advantage is in our people, and we work with a philosophy based on our values. We believe in innovative technology as a key element for building a sustainable energy model, which is embodied in the Repsol Technology Centre: leading center in Europe, where we promote R + D + i and from which we apply our motto: Let’s invent the future.
See the presentation of World Petroleum Congress, an event of great importance in our industry, and with the most relevant energy companies in the world.
Repsol posted net income in 2014 of 1.612 billion euros, supported by the strength of its integrated business model. This result represents a 724% increase over the 195 million euros registered in 2013, a financial year in which the company booked one-time cleanup charges related to the expropriation of YPF.
For more information, visit: http://ow.ly/Kc1B2
- Repsol reported adjusted net income of €1,707 million in 2014, a 27% increase from 2013, due to improved downstream results and asset divestments. Upstream results were penalized by lower crude oil prices and interruptions in Libya.
- Production grew 2.5% to 355 thousand boe/day excluding Libya. The reserve replacement ratio was 118% and proven reserves reached 1,539 Mboe.
- Strategic projects in Brazil, the US, Algeria, Spain, Russia and Bolivia are advancing and expected to contribute significantly to production growth in coming years.
Repsol: Align values to achieve business strategyRepsol
This document contains a case study on Repsol, a Spanish multinational oil and gas company. It discusses Repsol's business strategy of aligning its values to achieve its strategic goals. It provides an overview of Repsol's upstream, downstream and corporate business segments. It also summarizes Repsol's operations in international locations like Angola, where it has expanded to explore new oil and gas blocks, and the challenges of opening an office in Luanda, Angola. Finally, it discusses Repsol's focus on flexibility in its business strategy through geographic diversification of activities.
Growing through our strengths: Repsol's strategic plan is based on four basic pillars: upstream growth, maximizing downstream returns, maintaining our financial strength and generating competitive shareholder returns.
For more information, visit: http://ow.ly/Kc1HR
The document outlines the privatization and restructuring of YPF, Argentina's state-owned oil company. It discusses:
1) The factors that led to the privatization's success, including strong political leadership committed to privatization, a strategy to restructure the company rapidly into a lean organization, and improving financial conditions in Argentina.
2) How YPF was transformed from an inefficient organization with 50,000 employees into an efficient company with around 6,000 employees through layoffs, selling $2 billion in non-core assets, and focusing only on oil and gas.
3) The restructuring plan involved forming a new high-level organization with two business units, ensuring efficient processes and policies, and
The Plan centers on Repsol’s ability to generate value, even against the backdrop of low petroleum prices, placing particular importance on the management of our asset portfolio, and maximizing efficiency. More info at: repsol.com
Seplat Petroleum Development Company Plc is a leading independent oil and gas company in Nigeria. In 2016, the company faced challenges from low oil prices and disruptions to oil production and exports in Nigeria. Seplat's working interest production and revenue declined significantly compared to 2015. However, the company maintained financial discipline by reducing capital expenditures and engaging with lenders. Seplat aims to grow through portfolio expansion and diversification, focusing on opportunities that can offset risks and provide near-term growth.
Repsol: Corporate Sustainability Plan 2013-214Repsol
Every year, Repsol strengthens its commitments to Corporate Responsibility with the implementation of its corporate and country-level Plan.
For more information, visit: http://ow.ly/Kc2LJ
FERMA presentation at the IIA Belgium ConferenceFERMA
This document discusses coordination of assurance functions from the perspective of FERMA, an organization representing risk and insurance managers. It highlights the different risks faced by corporations and FERMA members according to various surveys. These include economic, regulatory, and environmental risks. The document also discusses resilience and how organizations can adapt to risks through early risk detection, diversification, relationships, crisis response, and experience. Finally, it examines standards for risk management like ISO 31000 and COSO, as well as relationships between risk, audit, and other assurance functions within organizations.
Formulation of corporate strategy to get successful in rspo and ispo certific...Suhardiyoto Haryadi
1. The document provides an overview and comparison of the RSPO and ISPO certification schemes for palm oil production. RSPO certification is voluntary while ISPO certification will be mandatory by 2014. RSPO has 8 principles while ISPO has 7 principles related to best practices, environmental protection, social responsibilities, and continuous improvement.
2. Both certification schemes involve overall plantation management. Proper management planning, organization, implementation, and control are keys to success in both RSPO and ISPO certification.
3. For RSPO certification specifically, environmental and social impact assessments and high conservation value assessments must also be integrated into daily management practices.
This document provides information about Coverage, a Thai company that offers risk management and business continuity planning services. It discusses the increased need for these services due to various legal requirements. Coverage can help clients comply with standards like SOX and Basel II. The company's services include risk management, business continuity planning, disaster recovery, crisis management, and contingency planning. Coverage also provides testing, training and auditing. Their consultants have years of experience in these fields across multiple industries and regions. Coverage works with clients to develop risk assessments and plans in a process that typically takes 2-6 months.
Covid-19 AAA Crisis Rapid Response SupportGadlang ATH
The document discusses the impacts of the Covid-19 pandemic on businesses in the Gulf region. It notes that while the virus will continue to spread globally, governments, businesses, and individuals can help curb its trajectory. It also states that the next outbreak waiting behind Covid-19 is its economic impact on the world. The document explains that Gadlang is working closely with clients across the Gulf region to help them effectively respond to the challenges posed by the Covid-19 outbreak.
This document provides a summary of a workshop on ISO 31000, the international risk management standard. It discusses key components of ISO 31000, including what a risk register is, accountability, the risk management process, and the risk management framework. The workshop aims to help participants understand ISO 31000 by examining these components and rating their organization against them. Participants will learn what ISO 31000 covers and how to evaluate their risk management practices based on the standard.
11 Strategic Initiatives for the Palm Oil IndustryJohnny Moi
The document proposes 11 strategic initiatives to address challenges facing palm oil associations and improve the palm oil industry. The initiatives include developing a global strategy, a total production measurement system, research and training centers, community development programs, new technologies, and an annual leadership award event. Successful implementation of the initiatives would help the associations achieve their goals of expanding palm oil markets, improving production efficiency, optimizing land use, and promoting palm oil consumption.
The document provides an overview of ISO 14001, an international standard for environmental management systems (EMS). It discusses what ISO and ISO 14000 are, who the standards apply to, the aims and principles of ISO 14001, and the main requirements. The standard provides guidelines for organizations to identify and mitigate their environmental impacts, comply with regulations, and improve their environmental performance through planning, implementation, monitoring and continual improvement of their EMS. The document outlines the key clauses of ISO 14001, which cover the scope, leadership commitment, planning activities, operational controls, performance evaluation, and improvement processes required in an organization's EMS.
Sustainability reporting is the practice of measuring, disclosing and being accountable for an organization's economic, environmental and social impacts. It allows companies to benchmark performance, demonstrate transparency and compare themselves to others. The Global Reporting Initiative developed a sustainability reporting framework to standardize reporting and provide guidance on strategy, management approach and performance indicators. Effective sustainability reporting can help companies access new markets, attract investment and improve relationships with stakeholders. However, barriers include unclear standards, resource constraints and lack of management support.
Constellium has unveiled a sustainability roadmap that will guide the Company’s broad range of sustainability initiatives, including active energy saving and recycling programs. The roadmap formalizes and defines the company’s long-standing commitment to sustainability and sets ambitious goals and targets to enhance the sustainability of Constellium’s operations and business practices. The roadmap defines four main priorities of the Company’s sustainability efforts:
- reaching the highest standards of safety and skill development of Constellium employees;
- ensuring the highest level of transparency with respect to Constellium’s governance and its partnerships throughout the supply chain including suppliers, customers and other stakeholders;
- minimizing the environmental impact of the company’s operations; and
- designing, developing and manufacturing sustainable products based on a thorough life cycle analysis that increases, in particular, resource efficiency across the value chain.
Constellium has defined a comprehensive set of targets for each of these priorities, including:
- a further drop in the number of accidents, with a target of zero serious injury incidents in 2015 and a 60% reduction in recordable cases in 2014 versus 2010;
- a continued increase in energy efficiency (10% improvement from 2010 to 2015); and
- a systematic usage of Life Cycle Assessments in the company’s innovation projects.
2015 Sustainable Development Performance: Investor PresentationAnglo American
The document provides an overview of Anglo American's 2015 sustainable development performance and strategy. Key points include:
- Anglo American achieved its best ever safety performance in 2015 but regrets six fatalities. It aims to achieve zero harm.
- Environmental incidents continued to decline due to improved operations planning and oversight.
- The company's materiality process ensures comprehensive identification of sustainability risks.
- Sustainable development is integrated into Anglo American's strategy and critical to its objective of being a responsible partner.
- In 2016, Anglo American will focus on transforming its business by focusing its portfolio, improving delivery, enhancing processes and fostering a high performance culture.
The document provides an overview of new ISO standards for quantifying, reporting, and verifying greenhouse gas emissions:
- ISO 14064 consists of 4 parts that establish principles and requirements for greenhouse gas accounting and verification at the organization and project levels.
- Part 1 covers quantification and reporting at the organizational level. Part 2 addresses project-level accounting. Part 3 provides guidance on validation and verification processes. Part 4 deals with accreditation of verification bodies.
- The standards are designed to promote best practices in a consistent, transparent way to support voluntary carbon markets and regulatory programs in verifying greenhouse gas emissions data and emission reductions from organizations and projects.
Total is an international oil and gas company with 100,000 employees across 500 professions operating in 130 countries. The document provides an overview of Total's businesses including exploration and production, gas and power, refining and chemicals, trading and shipping, and marketing and services. It also discusses Total's challenges around delivering profitable growth, developing competitive refining and petrochemical platforms, responding to customer needs, and focusing on renewable energy like solar and biomass. The summary highlights Total's global scale and diversity of operations.
Steps to Implement ISO 14001 Certification in Windhoek.pptxAnoosha Factocert
ISO 14001 Certification in Windhoek provides the structure required to protect the environment from unwanted impacts. Factocert provides ISO 14001 certification in Windhoek at an affordable cost.
An Easy-To-Use Checklist For Small Business Are You ReadyDarian Pruitt
The document provides guidance for small businesses on implementing an environmental management system that meets the requirements of ISO 14001. It contains a 16-part checklist that guides users through setting up, implementing, and certifying (if desired) an EMS. The checklist examines key parts of an EMS, including environmental policy, legal requirements, objectives, roles and responsibilities, documentation, operational controls, auditing and management review. It aims to help small businesses understand ISO 14001 requirements and identify areas for improving their environmental performance and management.
This document summarizes the qualifications and experience of an Oil & Gas Safety Professional with over 8 years of experience in both onshore and offshore roles. They have a history of training others in health, safety, security, and environmental best practices and 5 years of experience as an International Sales Manager meeting with clients around the world. They also have extensive experience implementing safety programs and ensuring zero incident work sites, as well as qualifications in areas like project management, safety law, and oil & gas management.
This document summarizes a panel discussion on developing successful business plans for anaerobic digestion projects. The panelists include representatives from law, finance, and engineering firms. They emphasize that risk mitigation is key to standing out to funders. Business plans should identify risks like issues in commissioning, design, feedstocks, and control/monitoring and detail how the project will address each risk. The executive summary is especially important and should be no more than two pages, clearly conveying the project fundamentals to influence the funding decision.
This document is an executive report analyzing the financial ratios of Durdans Hospital and Asiri Hospital for the years 2013 and 2014. It begins with an introduction and acknowledgements. It then provides the objectives of the study, which are to analyze liquidity, leverage, activity, and profitability ratios to evaluate financial performance and the impact of assets and liabilities. The methodology describes the study period and data collection sources. The document then presents various financial ratios that will be calculated and analyzed, including liquidity, leverage, profitability, and activity ratios. Finally, it provides a data table with financial figures for both hospitals in 2013 and 2014 that will be used to calculate the ratios.
This document discusses risk management for PR strategies. It outlines that there are risks to using online interactivity and that risk management methodologies are important. It also states that a complete PR strategy involves assessing risks. The document then provides details on identifying, recording, managing and reviewing risks through maintaining a risk log. It discusses balancing the likelihood and impact of risks and using a risk matrix to visualize the risk profile. Roles and procedures for routine risk management are also outlined.
Marvon is an Italian company established in 1967 that produces plastic parts through extrusion, injection molding, and electroplating. It became part of the Fondital Group in 2002. Marvon has over 50 years of experience in plastics processing and continuous innovation. It has obtained several certifications for its quality, environmental, and health and safety management systems. The company operates globally with a commercial presence in nearly 50 countries. Marvon's production is split into three divisions: third party molding and electroplating, technical articles for professional furnishings, and products for passive fire protection. It is recognized for the high quality of its electroplating and sees sustainability as a business opportunity and part of ensuring its long-term success
Repsol discovered the largest gas volume in Trinidad and Tobago in the last 5 years, estimated at 2 million cubic feet. In the first half of 2017, Repsol achieved a CSS EBITDA of €3,194 million, a 33% increase over the same period last year. Repsol's net debt decreased by €667 million compared to the same period last year. Upstream production was 685 kboe/day, in line with 2017 objectives.
Repsol: Corporate Sustainability Plan 2013-214Repsol
Every year, Repsol strengthens its commitments to Corporate Responsibility with the implementation of its corporate and country-level Plan.
For more information, visit: http://ow.ly/Kc2LJ
FERMA presentation at the IIA Belgium ConferenceFERMA
This document discusses coordination of assurance functions from the perspective of FERMA, an organization representing risk and insurance managers. It highlights the different risks faced by corporations and FERMA members according to various surveys. These include economic, regulatory, and environmental risks. The document also discusses resilience and how organizations can adapt to risks through early risk detection, diversification, relationships, crisis response, and experience. Finally, it examines standards for risk management like ISO 31000 and COSO, as well as relationships between risk, audit, and other assurance functions within organizations.
Formulation of corporate strategy to get successful in rspo and ispo certific...Suhardiyoto Haryadi
1. The document provides an overview and comparison of the RSPO and ISPO certification schemes for palm oil production. RSPO certification is voluntary while ISPO certification will be mandatory by 2014. RSPO has 8 principles while ISPO has 7 principles related to best practices, environmental protection, social responsibilities, and continuous improvement.
2. Both certification schemes involve overall plantation management. Proper management planning, organization, implementation, and control are keys to success in both RSPO and ISPO certification.
3. For RSPO certification specifically, environmental and social impact assessments and high conservation value assessments must also be integrated into daily management practices.
This document provides information about Coverage, a Thai company that offers risk management and business continuity planning services. It discusses the increased need for these services due to various legal requirements. Coverage can help clients comply with standards like SOX and Basel II. The company's services include risk management, business continuity planning, disaster recovery, crisis management, and contingency planning. Coverage also provides testing, training and auditing. Their consultants have years of experience in these fields across multiple industries and regions. Coverage works with clients to develop risk assessments and plans in a process that typically takes 2-6 months.
Covid-19 AAA Crisis Rapid Response SupportGadlang ATH
The document discusses the impacts of the Covid-19 pandemic on businesses in the Gulf region. It notes that while the virus will continue to spread globally, governments, businesses, and individuals can help curb its trajectory. It also states that the next outbreak waiting behind Covid-19 is its economic impact on the world. The document explains that Gadlang is working closely with clients across the Gulf region to help them effectively respond to the challenges posed by the Covid-19 outbreak.
This document provides a summary of a workshop on ISO 31000, the international risk management standard. It discusses key components of ISO 31000, including what a risk register is, accountability, the risk management process, and the risk management framework. The workshop aims to help participants understand ISO 31000 by examining these components and rating their organization against them. Participants will learn what ISO 31000 covers and how to evaluate their risk management practices based on the standard.
11 Strategic Initiatives for the Palm Oil IndustryJohnny Moi
The document proposes 11 strategic initiatives to address challenges facing palm oil associations and improve the palm oil industry. The initiatives include developing a global strategy, a total production measurement system, research and training centers, community development programs, new technologies, and an annual leadership award event. Successful implementation of the initiatives would help the associations achieve their goals of expanding palm oil markets, improving production efficiency, optimizing land use, and promoting palm oil consumption.
The document provides an overview of ISO 14001, an international standard for environmental management systems (EMS). It discusses what ISO and ISO 14000 are, who the standards apply to, the aims and principles of ISO 14001, and the main requirements. The standard provides guidelines for organizations to identify and mitigate their environmental impacts, comply with regulations, and improve their environmental performance through planning, implementation, monitoring and continual improvement of their EMS. The document outlines the key clauses of ISO 14001, which cover the scope, leadership commitment, planning activities, operational controls, performance evaluation, and improvement processes required in an organization's EMS.
Sustainability reporting is the practice of measuring, disclosing and being accountable for an organization's economic, environmental and social impacts. It allows companies to benchmark performance, demonstrate transparency and compare themselves to others. The Global Reporting Initiative developed a sustainability reporting framework to standardize reporting and provide guidance on strategy, management approach and performance indicators. Effective sustainability reporting can help companies access new markets, attract investment and improve relationships with stakeholders. However, barriers include unclear standards, resource constraints and lack of management support.
Constellium has unveiled a sustainability roadmap that will guide the Company’s broad range of sustainability initiatives, including active energy saving and recycling programs. The roadmap formalizes and defines the company’s long-standing commitment to sustainability and sets ambitious goals and targets to enhance the sustainability of Constellium’s operations and business practices. The roadmap defines four main priorities of the Company’s sustainability efforts:
- reaching the highest standards of safety and skill development of Constellium employees;
- ensuring the highest level of transparency with respect to Constellium’s governance and its partnerships throughout the supply chain including suppliers, customers and other stakeholders;
- minimizing the environmental impact of the company’s operations; and
- designing, developing and manufacturing sustainable products based on a thorough life cycle analysis that increases, in particular, resource efficiency across the value chain.
Constellium has defined a comprehensive set of targets for each of these priorities, including:
- a further drop in the number of accidents, with a target of zero serious injury incidents in 2015 and a 60% reduction in recordable cases in 2014 versus 2010;
- a continued increase in energy efficiency (10% improvement from 2010 to 2015); and
- a systematic usage of Life Cycle Assessments in the company’s innovation projects.
2015 Sustainable Development Performance: Investor PresentationAnglo American
The document provides an overview of Anglo American's 2015 sustainable development performance and strategy. Key points include:
- Anglo American achieved its best ever safety performance in 2015 but regrets six fatalities. It aims to achieve zero harm.
- Environmental incidents continued to decline due to improved operations planning and oversight.
- The company's materiality process ensures comprehensive identification of sustainability risks.
- Sustainable development is integrated into Anglo American's strategy and critical to its objective of being a responsible partner.
- In 2016, Anglo American will focus on transforming its business by focusing its portfolio, improving delivery, enhancing processes and fostering a high performance culture.
The document provides an overview of new ISO standards for quantifying, reporting, and verifying greenhouse gas emissions:
- ISO 14064 consists of 4 parts that establish principles and requirements for greenhouse gas accounting and verification at the organization and project levels.
- Part 1 covers quantification and reporting at the organizational level. Part 2 addresses project-level accounting. Part 3 provides guidance on validation and verification processes. Part 4 deals with accreditation of verification bodies.
- The standards are designed to promote best practices in a consistent, transparent way to support voluntary carbon markets and regulatory programs in verifying greenhouse gas emissions data and emission reductions from organizations and projects.
Total is an international oil and gas company with 100,000 employees across 500 professions operating in 130 countries. The document provides an overview of Total's businesses including exploration and production, gas and power, refining and chemicals, trading and shipping, and marketing and services. It also discusses Total's challenges around delivering profitable growth, developing competitive refining and petrochemical platforms, responding to customer needs, and focusing on renewable energy like solar and biomass. The summary highlights Total's global scale and diversity of operations.
Steps to Implement ISO 14001 Certification in Windhoek.pptxAnoosha Factocert
ISO 14001 Certification in Windhoek provides the structure required to protect the environment from unwanted impacts. Factocert provides ISO 14001 certification in Windhoek at an affordable cost.
An Easy-To-Use Checklist For Small Business Are You ReadyDarian Pruitt
The document provides guidance for small businesses on implementing an environmental management system that meets the requirements of ISO 14001. It contains a 16-part checklist that guides users through setting up, implementing, and certifying (if desired) an EMS. The checklist examines key parts of an EMS, including environmental policy, legal requirements, objectives, roles and responsibilities, documentation, operational controls, auditing and management review. It aims to help small businesses understand ISO 14001 requirements and identify areas for improving their environmental performance and management.
This document summarizes the qualifications and experience of an Oil & Gas Safety Professional with over 8 years of experience in both onshore and offshore roles. They have a history of training others in health, safety, security, and environmental best practices and 5 years of experience as an International Sales Manager meeting with clients around the world. They also have extensive experience implementing safety programs and ensuring zero incident work sites, as well as qualifications in areas like project management, safety law, and oil & gas management.
This document summarizes a panel discussion on developing successful business plans for anaerobic digestion projects. The panelists include representatives from law, finance, and engineering firms. They emphasize that risk mitigation is key to standing out to funders. Business plans should identify risks like issues in commissioning, design, feedstocks, and control/monitoring and detail how the project will address each risk. The executive summary is especially important and should be no more than two pages, clearly conveying the project fundamentals to influence the funding decision.
This document is an executive report analyzing the financial ratios of Durdans Hospital and Asiri Hospital for the years 2013 and 2014. It begins with an introduction and acknowledgements. It then provides the objectives of the study, which are to analyze liquidity, leverage, activity, and profitability ratios to evaluate financial performance and the impact of assets and liabilities. The methodology describes the study period and data collection sources. The document then presents various financial ratios that will be calculated and analyzed, including liquidity, leverage, profitability, and activity ratios. Finally, it provides a data table with financial figures for both hospitals in 2013 and 2014 that will be used to calculate the ratios.
This document discusses risk management for PR strategies. It outlines that there are risks to using online interactivity and that risk management methodologies are important. It also states that a complete PR strategy involves assessing risks. The document then provides details on identifying, recording, managing and reviewing risks through maintaining a risk log. It discusses balancing the likelihood and impact of risks and using a risk matrix to visualize the risk profile. Roles and procedures for routine risk management are also outlined.
Marvon is an Italian company established in 1967 that produces plastic parts through extrusion, injection molding, and electroplating. It became part of the Fondital Group in 2002. Marvon has over 50 years of experience in plastics processing and continuous innovation. It has obtained several certifications for its quality, environmental, and health and safety management systems. The company operates globally with a commercial presence in nearly 50 countries. Marvon's production is split into three divisions: third party molding and electroplating, technical articles for professional furnishings, and products for passive fire protection. It is recognized for the high quality of its electroplating and sees sustainability as a business opportunity and part of ensuring its long-term success
Similar to Repsol: Growing from our strengths in a sustainable way (20)
Repsol discovered the largest gas volume in Trinidad and Tobago in the last 5 years, estimated at 2 million cubic feet. In the first half of 2017, Repsol achieved a CSS EBITDA of €3,194 million, a 33% increase over the same period last year. Repsol's net debt decreased by €667 million compared to the same period last year. Upstream production was 685 kboe/day, in line with 2017 objectives.
Este documento presenta la Junta General de Accionistas de Repsol del 19 de mayo de 2017. Incluye información sobre el contexto del sector energético, la transición energética y las propuestas que se presentarán en la junta.
The company reported its highest net income in four years in 2016, reflecting the strength and flexibility of its business units and the success of the action plan put in place in response to falling crude oil and gas prices.
El beneficio neto de 2016, el mayor alcanzado por la compañía en los últimos cuatro años, refleja la fortaleza y flexibilidad de los negocios y el éxito del programa de actuación puesto en marcha para responder a la caída de los precios del crudo y del gas.
Este documento presenta un resumen de la situación del entorno energético y las perspectivas para los próximos años. Describe la caída de los precios del petróleo y gas en 2015 y su recuperación inicial en 2016, así como la evolución del tipo de cambio dólar/euro. Analiza el balance entre oferta y demanda de petróleo en 2015 y 2016, y prevé una estabilización de los precios a partir de 2017. También examina los retos medioambientales como el cambio climático y la transición energética requerida para al
The document discusses the environment and outlook for the energy sector. It summarizes 2015 results including lower oil and gas prices and a favorable exchange rate. It then analyzes the supply and demand balance in 2015 and 2016. The document also covers topics like downstream margins, economic growth, and the challenges of climate change, growing demand, and reducing emissions. Repsol is committed to reducing emissions and believes all energy sources can contribute to the future in a sustainable way.
Repsol is a global, integrated, energy company that works with great effort, talent, and enthusiasm to offer the best energy solutions to society and the planet. We are leaders in the Oil & Gas industry, with an integrated business model in place across the whole value chain.
Repsol es una energética global integrada, que trabaja con esfuerzo, talento e ilusión para ofrecer las mejores soluciones energéticas a la sociedad y al planeta. Somos un referente en el sector Oil & Gas, con un modelo de negocio integrado que participa en toda la cadena de valor.
Petroleum is an energy source that has been around for millions of years, and it is used to satisfy 90% of society’s energy needs. Learn about all the stages in the petroleum cycle, from exploration to the moment it is transformed to be used in everyday life.
El petróleo es una fuente de energía que se remonta a millones de años y se destina en un 90% a satisfacer las necesidades energéticas de la sociedad. Descubre todas las fases del ciclo del petróleo, desde la exploración hasta la transformación para su uso en la vida cotidiana.
Repsol's adjusted net income for 2015 was €1,860 million, a 9% rise over 2014. Its net debt was reduced by over €1,100 million despite investments and interest payments. Production reached 697,000 barrels per day, up 88% year-over-year. Downstream business performed strongly with refining margins doubling versus prior year. Measures to reduce costs and investments will lower the breakeven price to $40 per barrel.
Consulta el Plan de Sostenibilidad de A Coruña, con el que respondemos a las expectativas sobre la actividad de nuestro Complejo Industrial.
Más info en repsol.com
Consulta o Plan de Sustentabilidade da Coruña, có que responderemos ás expectativas sobre a actividade do noso Complexo Industrial.
Más info en repsol.com
Oil and gas CEOs jointly declare action on climate changeRepsol
The chief executive officers of 10 of the world’s largest oil and gas companies declared their collective support for an effective climate change agreement to be reached at next month’s 21st session of the United Nations (UN) Conference of Parties to the UN Framework on Climate Change (COP21).
Los objetivos del Plan Estratégico de Repsol 2016-2020 son la creación de valor en cualquier escenario y aumentar la resiliencia ante los distintos ciclos del precio del petróleo.
Más info en: repsol.com
El Plan Estratégico El Plan Estratégico 2016-2020 garantiza la fortaleza de Repsol y su capacidad de creación de valor en un contexto de bajos precios del petróleo, mediante la eficiencia y la gestión activa del portafolio. garantiza la fortaleza de Repsol y su capacidad de creación de valor en un contexto de bajos precios del petróleo, mediante la eficiencia y la gestión activa del portafolio.
Más info en repsol.com
Este documento presenta el Plan de Sostenibilidad 2015 de Repsol Puertollano. El plan describe 35 indicadores clave relacionados con la gobernanza, derechos humanos, seguridad, medio ambiente, cadena de suministro y comunidad local. El objetivo es monitorear el progreso en estas áreas y garantizar el desarrollo sostenible de las operaciones de Repsol Puertollano.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
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7. 7
Indigenous communities in Bolivia, Perú, Ecuador, Alaska and Colombia
Policy
Due dilligence
Grievance mechanisms
Non-contacted indigenous tribes procedures
Ecuador, Peru,
Bolivia, Alaska &
Colombia
First O&G company operating in Latin America with an official policy
explicitly supporting indigenous rights protected by ILO Covenant 169,
including right to free, prior and informed consultation (FPIC)
Team of 40+ people dedicated to dialogue and relations with
indigenous communities, 35% women, in Peru, Bolivia, Ecuador, USA
and Colombia.
UNPD entered into in Colombia: intention to develop a master
agreement and to apply it to the rest of indigenous communities.
Signed agreements in most areas, ongoing dialogue and consultation
with all communities, currently no major disagreements.
Controversies focused on indigenous tribes living in isolation: working
with special preventive measures in Block 88 Peru.
Peru grievance mechanism pilot finished to update company
guidelines.
2. Main challenges in Repsol
8. Reshaping portfolio
Balance of exposure to OECD countries : US, Canada, Norway,
Europe
Custom made
approach
Russia: Low profile, local alliances
Latin America: work closely with local governments
North Africa: limited activity to maintain current position
Namibia, Angola: offshore
2. Main challenges in Repsol
Offshore deepwater safety
Political risk
Non-operated run by experienced operators: Petrobras, Chevron,
BHP, Statoil, Eni
Members of: Oil Spill Response (OSR), Joint Industry Project (JIP)
project of IPIECA and OGP, and Global Well Containment Response
Strategy
Strict asset integrity procedures
Emergency response in place
Deepwater
Offshore
Brazil, GoM, Africa, Canada
and others
8
9. Artic operations
Artic
Norway/Barents Sea: Not qualified as arctic operations. North-sea-
type operations
Alaska North Slope: onshore activity
Russia: onshore activity
Alaska Chukchi Sea: We will not carry forward any operation
Beaufort Sea: no operations in the medium term
2. Main challenges in Repsol
9
11. 3. Our commitments with sustainability
11
Commitment to
safety
Excelence in
environmental
management
Promoting a low
carbon strategy
Ethical conduct
Anti-corruption
Transparency
Respect for
human rights
12. 1.19 1.00 0.601.02 0.84 0.55
1.09
0.91
0.59
2011 2012 2013
12
3. Our commitments with sustainability
Commitment to safety
Our objective : zero accidents
Lost time injury frequency rate Total recordable injury frequency rate
Sistematic Risk Management
Proper management of our facilities risks from design to abandonment.
Operations control through work permits and identification of critical elements of our
facilities.
Special focus on deep water drilling: facilities integrity and design and proper response
procedures.
Own Employees
Contractors Employees
Combined
Zero fatalities in 2013
3,56 3,39 2,59
0
0,5
1
1,5
2
2,5
3
3,5
4
2011 2012 2013
13. 13
3. Our commitments with sustainability
Commitment to safety
Our objective : zero accidents
Focus on our main accidentability sources
Incident and near-misses management: lessons learnt and procedure adjustments.
Audits: 502 audits performed in 2013.
Certifications: 54 out of 65 facilities certified through OHSAS 18001 in 2013.
14. Target: “Changing the culture of Safety and Environment through the people
leading the organization, whose behavior should serve as an example for all the
employees”
14
Our objective : Embedded safety culture
3. Our commitments with sustainability
Commitment to safety
2012-2013
• HSE Leadership Plan, based on three pilars:
• Training in safety culture: over 3,000 people have attended any of the 120 editions held in 11
countries. Training programs tailored to each business and aimed at intermediate managers and
other groups.
• Internal Communication: Awareness of the 8 defined behaviours leading HSE.(*)
• Development: Mainstreaming of HSE aspects as a criteria in all development tools of the
company.
2014
Progress
• Culture Project:
• Definition of Repsol´s HSE Culture attributes and of maturity levels to be achieved.
• Development of a methodology to diagnose the HSE culture level.
• Diagnosis HSE 2014 Leadership: Dupont Survey
• Improvement in the results: RSC (Relative Strength Culture) 15 points higher than 2010 results.
Next Steps
• Action Plan 2015-2020 to diagnose culture levels throughout the operational sites.
• Defining action plans based on the diagnosis results tailored to each operational site .
(*) 1)Individual responsibility 2) Example 3) Incidents are avoidable 4)Leaders in safety 5)Enforce by recognition 6) Decision-
making driven by safety 7) Be systematic with improvement 8) Immediate correction.
15. 15
3. Our commitments with sustainability
Excelence in environmental management
Our objective : zero spills
Excellence in spill prevention and response
Various measures have been implemented to prevent accidental spills, both in the
upstream and downstream divisions
Work was also carried out to develop an early detection system for oil spills, using
proprietary technology that uses advanced detection software and complex
algorithms to interpret spill signals.
37 29 14
0
5
10
15
20
25
30
35
40
2011 2012 2013
Number of Hydrocarbon Spills (1)
(1) Includes spills in excess of one barrel that reach the environment (either the water or land on which we perform our operations)
16. 2013 Milestones:
• To bring internal standards into line with international best practices
• To create a group of experts in emergency management and establish the
functions and roles played by the new multidisciplinary emergency response team
• To establish emergency response rooms and centers in Madrid, Houston, Lima
and Río de Janeiro
During 2014 the scheduled training sessions and drill exercises have been carried out.
Emergency response: Global critical management program
16
3. Our commitments with sustainability
Excellence in environmental management
Corporate
Support Level
Business
Support Level
Facility
Support Level
Crisis Management
Incident Response & Business Continuity
CMT
BST
IMT TRT
17. 2012-2013
• Development of a proprietary tool for identifying risks associated with water management
assessing aspects of both the environment and internal management at each site, based on the
GEMI Local Water Tool.
2014
Progress
• Consolidation of the tool and development of a water management map (baseline) for the activities
of refining, chemicals and upstream.
• Diagnosis of the situation of the operational sites and assessment of associated risks.
Next Steps
• Preparation of the Action Plan for improving water management for the period 2015-2020.
17
3. Our commitments with sustainability
Excelence in environmental management
Our objective: Application of best practices for water management
NEW APPROACH:
Water as a strategic resource
Strengthening local management with a global and homogeneous vision
Application of standards and best practices
18. New objective defined for the 2014-2020 period involving all our business
areas
18
3. Our commitments with sustainability
Excelence in environmental management
Our objective : reduce waste by 14,5 kt by 2020
2012-2013
• 2014-2020 objetive definition:
• Company’s waste map redesigned.
• Downstream activities: 14.5 kilotons reduction.
• Upstream activities: Implementation of Environmental Performance Practices (EPP), mainly aimed
to the management of drilling cuttings
2014
Progress
• Fulfillment of the actions aimed to reduce the riskiness of the waste that we generate.
Next Steps
• Compliance and revision of the potential reduction of some of the actions identify for the periods
2015-2020.
• Implementation of good practices which derive from the action plan in other parts of the Company
where the implementation is viable: possibility of implementing at Peru “La Pampilla” refinery some of
the actions already adopted in Spain.
19. 19
3. Our commitments with sustainability
Excellence in environmental management
Threats to biodiversity in all of our assets and upstream projects have been
evaluated:
Our objective : biodiversity action plans implemented on all sensitive areas
2012-2013
• Development of a methodology for qualitative assessment of risks to biodiversity in assets and
projects.
• Starting the BAP (Biodiversity Action Plans) for Caipipendi area (Bolivia).
• Definition of risk indicators for biodiversity and implementation of BAPs.
• BAP in Peru, Ecuador Trinidad & Tobago and Bolivia with 96% of implementation.
• 100% of E&P sites have been evaluated and 44% qualified with some type of biodiversity risk.
2014
Progress
• Pilot ecosystem services in the area of influence of Sagari (Block 57, Peru):
• Identification of impacts and dependencies of the Company and the communities on ecosystem
services.
• Identification of priority ecosystem services, risks and opportunities, and definition of the action plan.
Next Steps
• Inclusion of ecosystem services criteria into the management system.
20. 20
3. Our commitments with sustainability
Excelence in environmental management
Proactive development of new technologies
Repsol early detection of oil spills: detects oil spills without human intervention. System
working in offshore Spain rigs.
Asphalt recycling and low temperature installation technology diminishes waste and
emissions
At Repsol, we develop lubricants from renewable, biodegradable and non-toxic sources
as a way of reducing our environmental footprint.
Optimize heating oil to obtain a product better-suited to the most advanced boiler
technologies reducing emissions by 30%
21. 21
3. Our commitments with sustainability
Promoting a low carbon strategy
Our objective : to reduce 1,9 milion tonnes of CO2 by 2020
2012-2013
• Definition of a new target: 1.9 million tons of CO2 reduction emissions for 2014-2020 (2010
baseline).
• 100 investments and operating improvement measures were verified across all the company’s
operations in 2013 resulting in a reduction of 5 million GJ.
• ISO 50001: In 2013, Cartagena, Tarragona, and La Pampilla (Peru) refineries obtained certification,
as did the chemicals unit of the Puertollano industrial complex.
2014
Progress
• Repsol continues implementing a global energy management system (EnMS) for the whole
company under ISO 50001 standard. Thereby seven facilities have been verified so far, including
Block 16 an Upstream facility located in Ecuador (January 2014).
Next Steps
• Repsol is developing a plan in order to identify and mitigate methane emissions in its operating
assets.
• The company continues on the track to verify the entire GHG inventory following ISO 14064
standard.
• An EnMS plan is being spread through our industrial facilities.
• Focused on the identification and development of energy efficiency initiatives and low emissions
technologies.
Achievement of our 2006-2013 target to reduce CO2 emissions by 2.5 million
tons. The company comfortably outstripped the objective met in 2012 due
the reductions accumulated over those years, attaining a reduction of 3
million tons of CO2 at the end of the period
22. 3. Our commitments with sustainability
Promoting a low carbon strategy
Non-fossil fuel energy initiatives
Biofuels
Transport electrification: 85 new charging points in 2013
Renewable electricity generation
Wind Power
Repsol Nuevas Energías UK developes three offshore
wind energy projects at Scottish coast:
o Inch Cape through the company Inch Cape Offshore
Limited (ICOL)
Total installed capacity of up to 784 MW
The plant will have a maximum of 110 turbines, in a
total area of 150 km2.
Consent obtained from the Marine Scotland in
October 2014
o Moray Offshore Renewables Ltd (MORL)
Installed capacity of up to 1,116 MW, generated by
186 turbines
The total area is estimated to cover 295 km2.
Consent obtained from the Marine Scotland in March
2014
o Beatrice Offshore Windfarm Limited (BOWL)
Total installed capacity of up to 750 MW, generated
by 140 turbines, to be installed over an area of 132
km2
Consent obtained from the Marine Scotland in March
2014
Investment contract obtained in April 2014
Transport Electrification
IBIL, the company 50% owned by Repsol Nuevas
Energías, and EVE (Basque Energy Board), continues
to develop a charging network for electric vehicles in
Spain. IBIL is the first recharging operator for electric
vehicles registered with the National Energy
Commission that provides private recharging services
(in residential and company garages), as well as public
(in public car parks, shopping centers and oil stations).
Nowadays, IBIL has implemented a control center to
monitor and manage all aspects of infrastructure and
business.
22
23. In Repsol we believe that two global goals have to be pursued:
To mitigate climate change and
To provide access to affordable energy in order to support
economic growth and development
We set up and deploy ambitious energy efficiency programs to reduce
energy consumption and GHG emissions as one of the key elements of
our strategy. These programs pursue long term targets which has been
made public in order to facilitate their progress by the stakeholders.
We are convinced that innovation and technological development are
essential for ensuring reliable and sustainable energy supply in the long
term.
23
3. Our commitments with sustainability
Our position on Climate Change
24. Repsol collaborates pro-actively as a member of the Climate Change Working Group of
IPIECA (the global oil and gas association for environmental and social issues).
Concerning the concept of stranded assets we would like to highlight some key points:
24
3. Our commitments with sustainability
Our view on Stranded assets
Reserves differ from resources: Oil and
gas company valuations emphasize
proven and commercial reserves that will
be produced over the next 10 to 15 years.
Not all fossil fuels are the same: Oil, coal
and gas are different in key aspects
relevant to the unburnable carbon and
stranded assets concepts.
Developing and deploying innovative
technology: Oil and gas companies will
continue to play their part in discovering
and developing technologies to meet the
challenges of supplying energy to billions
of people, while reducing CO2 emissions.
Repsol integrates CO2 risk into its business planning
Focus on energy efficiency and having natural gas as 65% of total reserves will ensure a
robust portfolio in climate constrained future
25. Ethics and Conduct Regulation
On line training available to employees
Ethics Committee
Channels in place to enable all employees or third parties to submit queries relating to
the Ethics and Conduct Regulation and report any potential incidents of non-compliance
in a fully confidential manner
Audit and Control Corporate Division
Supports non-compliance investigation
Evaluates control processes efficiency
Anti-corruption policy
Applies to employees , partners, contractors and suppliers
Crime Prevention Model
A formal framework of regulations, procedures and controls that provide a means of
reasonably ensuring that the risks of crimes being committed are suitably identified,
monitored, evaluated and controlled
25
3. Our commitments with sustainability
Anti corruption/ Ethical conduct
Repsol is committed to fighting against corruption in all its forms and establishing
mechanisms to prevent corrupt or fraudulent activities.
26. Support for initiatives to promote financial transparency in the international extractive
sector and in the countries where we operate
We support EITI since it foundation in 2003:
We belong to the Peru chapter and cooperate with Trinidad Tobago working group.
Adherence to the Code of Best Tax Practices, evidencing our opposition to the use of
non-transparent tax structures
Adherence to the register of EU lobbies, which is part of the European Commission’s
transparency initiative
Continuous improvement on remuneration disclosure
Disclosure of engagement report
26
3. Our commitments with sustainability
Transparency
Transparency is a key value for Repsol and a guarantee of the company’s ethical
performance, its commitment to ensuring that all financial and non-financial
information is complete and accurate, and its willingness to engage in dialogue with
all stakeholders.
27. Policy on respect for human rights
Based on the UN Guiding Principles on Business and Human Rights
Development of internal guidance for:
Due diligence processes
Grievance mechanisms
Training : 11,300 hours of training to 3,694 employees since 2012 in human rights.
1,000 hours of direct training to 250 employees in 2014
27
3. Our commitments with sustainability
Respect for human rights
28. 28
3. Our commitments with sustainability
Respect for human rights
Monitoring
and control
Developing
KPIs
Follow-up
Supporting BU
in the
implementation
process
3 projects
ongoing
Several
forecasted
projects
Developing
internal
guidance
on how to
carry on
HRIA
4 HRIA projects
concluded with
the support of
specialized third
parties
HUMAN RIGHTS IMPACT ASSESSMENTS (HRIA)
Especific
Human Right
Impact
Assessment
projects
Pilot projects
to get
learnings and
experience
TRAINING AND AWARENESS
(communication campaigns, specific workshops in 4 countries in 2014 and new workshops forecasted for 2015
Integrating Human
Rights into
Environmental
Impact Assessment
Processes
ESHIA standard
which includes
HRIA approved
Mandatory
worldwide
For all BU
2011 2012 2013 2014 2015
29. 29
3. Our commitments with sustainability
Respect for human rights
Monitoring
and control
Supporting BU
in the
implementation
process
Developing
guidance on
how to implement
an operational-
level
grievance
mechanism
OPERATIONAL-LEVEL GRIEVANCE MECHANISMS (GM)
Pilot project
in Peru in
cooperation with
IPIECA Review
an existing
GM in
Bolivia
TRAINING AND AWARENESS
(communication campaigns, specific workshops in 4 countries in 2014 and new workshops forecasted for
2015)
Identification process
of the number of
existing grievance
mechanisms
2011 2012 2013 2014 2015
1 project of
developing a new
GM ongoing
Additional
projects of
improving the
effectiveness of
the GM forecasted
Develop a questionaire for the diagnosis
of the effectiveness
Improving the effectiveness of the
existing grievance mechanisms in Repsol
E&P operations
38
operational-
level
grievance
mechanims
identified
Developing KPIs
Developing an IT
system for Repsol
Group
Follow-up
30. 30
3. Our commitments with sustainability
Respect for human rights
MAJOR MILESTONES REGARDING INDIGENOUS COMMUNITIES
2008 2009 2010 2011 2013 2014
Policy
approval
Developing
Standard
Social
Performance
Reviews in
Perú &
Bolivia
Publicly
Committing
Action Plan
Social
Performance
Review in
Ecuador
Civil Society
field trip to
block 16
Ecuador
2012
Long-term
agreement
in Bolivia
Agreement
with United
Nations
Development
Program
in Colombia
Free, Prior
Informed
Consultation
process
in
Colombia
Long-term
agreement
in Perú –
block 57
Internal auditing
in Perú –
community
relations
Disseminating internally and externally and including provisions in contracts
32. 32
Added complexity:
o Climate change
o Global Stakeholders
o Human rights
o Supply chain
4. Sustainability plans
How to widen the view?
How to include all
stakeholders?
How to involve the
whole organization?
Operation
Influence area
33. 33
CSR Model
CORPORATE COUNTRY OPERATION
Stakeholders’
expectations on Repsol
List of actions:
Sustainability plans
Aligning performance to
expectations
CSR Committees:
Include multidisciplinary executive members
which make decisions on the actions to close
the gap with expectations
which compose the sustainability plan
3 levels of implementation:
4. Sustainability plans
34. 34
4. Sustainability plans
Progress
Actions are related to closing the gap in a variety of topic:
5 5 13 15
61
278
427
574
0
2
4
6
8
10
12
14
16
0
100
200
300
400
500
600
700
2011 2012 2013 2014
Nº of committees
Nº of actions
Sustainability plans approved in the year – 2013 - Nº of Actions
Governance 60
Human Rights 53
Labor Practices 96
Environment 99
Fair operating practices 101
Consumer issues 21
Community involvement and development 144
Total 574
36. 36
5. Corporate Governance
Shareholder Structure
6.41%
Total number of shares as of November 2014: 1,350.27 million.
11,89
9,05
6,14
72,92Free Float
11.89
9.05
6.14
72.92
Caixabank Sacyr Temasek Free Float
(*) On 11th November 2013 CaixaBank launched a €594m 3-year Mandatory Exchangeable Bond into Repsol shares (2.5% of share capital)
(*)
12 % Retail
37. 37
5. Corporate Governance
Board of Directors
6.41%
Directors may not
hold more than 4
mandates in other
listed companies
Repsol currently has
no overboarded
Directors
Presence of
External
Directors
The majority of the Board (80%) consists of External Directors
Market Practice: The tendency is to decrease the presence of Executive directors
Rotation of
independent
Directors
None of the Independent Directors have been on the Company’s board for more than 12
years
Implementation of the international standard (12 years cap) in our legal framework
% of Board
independence
At least 1/3 of the Board is independent
Market Practice: Unified Good Governance Code recommends having 1/3 of the Board
Independent
% of
Committee
Independence
Audit and Control Committee: Composed exclusively of independent directors
Nomination and Compensation Commitee: Majority independent / Chairman is independent
Strategy, Investments and CSR: Composed exclusively of external directors
The company's Board of Directors recognizes that a solid commitment to corporate governance
is critical to establishing trust and credibility with investors.
38. 38
5. Corporate Governance
Board of Directors
Gender
Diversity
Female directors make up 8.33% of the Boards External Directors
Repsol has committed to increase the proportion of women in leadership positions in Spain to 29% by 2020
Repsol’s Board recognizes that the presence of foreign Directors can add value to the decision-taking process
In line with the multinational nature of Repsol, the Board is committed to include foreign born members with solid
international experience, such as Henri Philippe Reichstul (Brazil) and Rene Dahan (Dutch)
Geographical
diversity
Separated
roles of CEO
and Chairman
The roles of the CEO and Chairman have been separated as of April 30, 2014 with the appointment of Mr. Josu Jon Imaz as
CEO.
In addition: 1/3 of the Board consists of Independent Directors and all Board committees, with the exception of the Executive
Committee, are composed exclusively of external Directors only.
Transparency
on
remuneration
The Company continues improving the disclosure on the remuneration issues and the implementation of international best
practices.
The Annual Remuneration Report is submitted for consultation vote to the General Shareholders Meeting. On 2014 AGM
the Report was approved by the 96,9% of the share capital present on the meeting.
Since 2009 to 2014 the increase of the fix pay for Directors has only increased 2.5% in total
The Company has committed to apply the limit of 2 years severance payment when proposing the appointment of new
Executive Directors.
Separated CEO/Chairman, Diversity and Transparency
39.
40. 40
Annexes
Main KPI Evolution
Social 2011 2012 2013
Repsol personnel (number) 23,623 23,995 24,214
Accident frequency rate (Repsol and contractor staff) [10] 1.1 0.9 0.6
Training in safety and occupational health (hours) 139,915 217,899 208,891
Deaths (number) 2 4 0
Personnel covered by collective agreement (percentage) 58 57 57
Women staff (percentage) 31 32 32
Women in management posts (percentage) 14 15 15
Women on the Board of Directors (number) 2 2 2
Total turnover rate (percentage) [11] 5 8 7
Investment in training (millions of euros) 16.38 19 19.63
Training per employee (hours) 40 42 40
Repsol staff who receive performance evaluations (percentage) 36 38 60
Disabled persons (number) 462 543 654
Teleworking staff (number) 716 1,037 1,222
Incidents of discrimination (number) 1 3 2
Voluntary social investment (millions of euros) 24.87 25.05 24.58
Local purchases as percentage of total purchases 84.59 83.4 85.3
Evaluations of the performance of contractors and suppliers (number) 1,238 940 1,261
Audits on contractors and suppliers (number) 132 144 171
Expenditure on private and public security (millions of dollars)[12] 86.9 40.62 44.11
Litigation due to allegations of anticompetitive behavior (Number of cases initiated) [13] 0 0 2
Communications received under the Ethics and Conduct Regulation (number) [14] 6 14 8
Dismissals for failure to comply with the Ethics and Conduct Regulation (number) 81 88 69
[10] Measured as the number of lost-time accidents and fatal accidents accumulated during the year, per million hours worked.
[11] Total number of persons leaving the company/total personnel on 31 December of each year. Data for 2011 have been restated in relation to the expropriation of YPF.
[12] Data for 2011 includes expenditure corresponding to YPF, and are therefore not comparable with those of 2012 and 2013.
[13] In 2012, no penalty proceedings were conducted on account of anticompetitive behavior by Repsol Group companies, for an amount equal to or greater than five million euros. For further details on
the 2012 data, see the Annual Consolidated Accounts Report, Note 18, “Current and non-current provisions”, Note 35, “Liabilities, contingencies and commitments” and Note 36, “Information on the
environment”.
[14] Data includes only communications related to the Ethics and Conduct Regulation received through the communication channel with the Ethics Committee.
41. Environmental 2011 2012 2013 Comments
Atmospheric emissions (metric tons)
SO2 (2) 50,131 36,949 34.263
In 2013 our SO2 emissions decreased by 7% compared to the previous year. Refineries and chemical plants were the
most important contributors. Sines reduced its emission in a 50%.
NOx 32,922 33,566 37.155 Emissions of NOx increased by 10% due to an increase in upstream drilling activities
NMVOC (2) 41,809 42,885 41.755
CO 8,804 8,696 10.283
Particulates 2,235 1,655 1.807
TOTAL 135,901 123,751 125.263
Water management (metric tons)
Fresh water withdrawn 61,156 56,243 60.414 An increase of a 7% in the water withdrawn due to the increase in the E&P activity
Discharged 39,728 38,925 40.100
Reused 6,971 8,375 9.473 13% increase in 2013, Main imptovement reached in refineries
Produced 56,758 58,556 60.578
Injected 51,976 53,678 57.831
Discharges (metric tons)
Hydrocarbons
151 259 460
In the second part of 2013 Trinidad and Tobago had problems with the water treatment plant. Because of this, there was
an increase in this parameter.
Suspended solids 1,594 1,581 1.265
Suspended solids and chemical oxygen demand decreased mainly in Tarragona chemical plant (maintenance shutdown
in semester 2)
COD 10,758 8,752 7.944
Suspended solids and chemical oxygen demand decreased mainly in Tarragona chemical plant (maintenance shutdown
in semester 2)
Waste management (metric tons)
Hazardous waste (3)
118,734 80,775 66.315
During 2013, the amount of hazardous waste treated decreased by 18% compared to 2012.. The commercial area has
developed succesfull plans to reduce its wastes. In 2013 , the amount of wastes included wastes from maintenance shut
downs (Puertollano) and conditioning plans of soils.
Non-hazardous waste
93,195 52.580 182.693
A strong increase in nonhazardous waste due to two factors:
• A conditioning plan of soils in La Pampilla refinery
• Dismantling activities in Petronor refinery.
Spills (4)
Number of hydrocarbon spills greater
than one barrel that reach the
environment
37 29 14
An important reduce in 2013 of both the number and the volume of the Hidrocarbon spills
Volume of hydrocarbon spills that reach
the environment (metric tons)
503 6,091 15
Environmental fines /sanctions (M€) (5) 0 0 0
1) In order to establish common bases for comparison over time, data for previous years have been adjusted in line with changes in the company's asset structure. The criteria for changing the baseline are included in oil-industry guidelines
(API/IPIECA/OGP). In March 2012, the Government of Argentina expropriated Repsol's majority holding in YPF, as a result of which 2012 inventories and those of previous years have been adjusted, eliminating the data from expropriated
facilities.
(2) For data on emissions from mobile sources, only those associated with own transport are included.
(3) Operational hazardous waste . Doesn´t include drilling wastes (cuttings and mud)
(4) We report spills greater than one barrel that have reached the environment.
(5)Arising from litigation or administrative proceedings finalized and paid in the year, with an amount equal to or greater than materiality thresholds set in the individual litigation letters of Group companies.
For further details on the 2012 data, see the Annual Consolidated Accounts Report, Note 34“Contingencies, commitments and Liabilities” and Note 36 “Environmental information”.
Annexes
Main KPI Evolution
41
43. 43
Main Figures
Annexes
Economic data (€ Million) 3Q 2013 2Q 2014 3Q 2014
% Change
3Q14/3Q13
January -
September
2013
January -
September
2014
% Change
2014/2013
EBITDA 1.026 1.025 1.047 2,0 3.241 3.249 0,2
CAPITAL EXPENDITURES 716 860 961 34,2 2.112 2.549 20,7
NET DEBT 7.117 2.392 1.998 (71,9) 7.117 1.998 (71,9)
EBITDA / NET DEBT (x) - - 2,10 - - 2,17 -
MARKET CAPITALIZATION
Operational data 3Q 2013 2Q 2014 3Q 2014
% Change
3Q14/3Q13
January -
September
2013
January -
September
2014
% Change
2014/2013
LIQUIDS PRODUCTION (Thousands of bbl/d) 135 122 141 4,7 145 131 (9,3)
GAS PRODUCTION
(*)
(Millions of scf/d) 1.172 1.216 1.261 7,6 1.176 1.221 3,8
TOTAL PRODUCTION (Thousands of boe/d) 344 338 366 6,4 354 349 (1,5)
CRUDE OIL REALIZATION PRICE ($/Bbl) 89,0 87,8 84,3 (5,3) 89,7 85,9 (4,2)
GAS REALIZATION PRICE ($/Thousands scf) 3,8 4,0 3,6 (5,3) 4,0 3,9 (1,1)
DISTILLATION UTILIZATION Spanish Refining (%) 80,9 83,5 84,8 4,8 80,3 81,0 0,9
CONVERSION UTILIZATION Spanish Refining (%) 101,1 100,6 106,6 5,4 100,1 101,4 1,3
REFINING MARGIN INDICATOR IN SPAIN ($/Bbl) 2,6 3,1 3,9 50,0 3,0 3,6 20,0
As of September 30th 2014
25,385
44. 44
Annexes
Repsol’s Technology applied to operations
Technology in E&P operations
Technology in Downstream
At Repsol we are continuously researching
into how to generate new products that meet
the needs of our customers and society as a
whole
Repsol Technology Center is the core where we focus our
R+D. More than 400 researchers work day after day at the
Repsol Technology Centre to improve on products and
preserve the environment
Kaleidoscope Project
The Kaleidoscope Project has been named one of the five
most innovative projects in the world by the American
Institute of Electrical and Electronics Engineers, a body
known for following new technologies. It works 15 times
faster than other technologies for seismic processing.
Sherlock Project
The Sherlock Project integrates knowledge of geology,
geochemistry and high-resolution analytical chemistry. Its
objective is to characterize the different elements of a
petroleum system in order to reduce the geological risk
and increase the exploratory success rate.
HEADS Project
Repsol has created the HEADS (Hydrocarbon Early
Automatic Detection System) safety system. It is the first of
its kind in the world and it can automatically detect
hydrocarbon leaks in the sea, with a response time of
under 2 minutes.
AutoGas Direct Liquid Injection
A new technology for transportation. The result of a
development and implementation of a Repsol discovery,
that enhance the sustainablity of fossil fuels in automotive
industry by lowering CO2 emissions a 15%, whithout
particle generation, meeting EU 2020 target of
95gCO2/km.
HVO
The introduction of this technology for hydrotreating
vegetable oils enables the production of a renewable fuel in
refinieries, meeting European specifications for this kind of
product and improving economic sustainability in refining
process.-
Excalibur Project
A methodology that improves field development where little
or no information is available, through 3D simulation and
patented mathematics algorithms.
45. Annexes
45
Repsol’s R&D: anticipating the future
At Repsol we believe that through research and innovation, with technology, we are able
to create a smart new energy model that anticipates the supply of sustainable and
competitive energy.
Reducing CO2 emissions by giving this gas
a use, is one of the objectives of the
research program. Replacing conventional
materials derived from crude oil by
secondary raw materials (CO2 byproduct of
refineries), to obtain CO2-based
polycarbonates.
Advanced biotechnology to develop a new
generation of biofuels from sustainable
energy crops and other micro organisms,
optimized for more efficient new engines.
Advanced R&D in electric vehicles and
energy storage, to be part of the
technological changes and anticipate
future strategies on electric mobility
We have developed a new generation of environmentally friendly
plastics for greenhouses, and are now developing technology* to
obtain plastics that repair themselves automatically and
independently after suffering damage, recovering their initial
aesthetic and mechanical properties.
The self-repairing plastics will give an important boost to
productivity in different sectors thanks to the maintenance savings
they will bring about, as well as environmental benefits, occupational
safety improvements and greater comfort for end users
*This technology is also being applied in the development of self-healing
asphalts
We are also involved in
R&D projects using
new materials like
graphene, to develop
new energy storage
models for
transportation.
Advanced technology in asphalts
designed to capture NOx emissions
from cars, in order to have cleaner air in
urban areas.
46. 46
Annexes
Integrated Risk Model
FINANCIAL
RISKS
Liquidity
Market
Counterpart
STRATEGIC
RISKS
Macroeconomics
Geopolítics
Competitors Regulation Partners
Image and
reputation
Portfolio
management
Innovation and
development
Corporate
governance
OPERATIONAL
RISKS
Ethics and
conduct
People and
organisation
Information
systems
Suppliers and
contractors
Operational
excellence
Project
management
Accidents and
singular events
Compliance
Our Company is exposed to numerous risks
which can influence the achievement of the
Strategic Plan.
47. 47
Annexes
Integrated Risk Model
An Enterprise Risk Management (ERM) System creates certainty in order to attain the
goals of the Strategic Plan through a systematic approach to risk portfolio management.
ISO 31000: 2009 Risk Management
Principles and Guidelines on Implementation
Establishing the context
Risk Identification
Risk Analysis
Risk Evaluation
Risk Treatment
Communicationandconsultation
Monitoringandreview
Risk Assessment
Risk Acceptance
No
No
Yes
Yes
RISK DECISION POINT 1
Assessment satisfactory
RISK DECISION POINT 2
Treatment satisfactory
ECIIA* / FERMA**
Three Lines of Defense Model
*European Confederation of Institutes of Internal Auditors
** Federation of European Risk Management Associations
1st LINE OF DEFENSE 2nd LINE OF DEFENSE 3rd LINE OF DEFENSE
Management
Controls
Internal
Control
Measures
Financial Control
Security
Risk Management
Quality
Inspection
Compliance
Internal
Audit
Executive Committee Audit Committee
Board of Directors
Shareholders
Our ERM System is being upgraded in order to align it with international standards:
48. 48
Repsol has led the Oil & Gas sector for two consecutive years, in the 2011 and 2012
editions of the prestigious Dow Jones Sustainability Indexes.
The company also leads the Oil & Gas sector on the European index (DJSI Europe).
Annexes
Main Sustainability Indexes and Initiatives
49. 49
Repsol is the leading oil and gas company in 2012 for carbon management, according to the Climate
Disclosure Leadership Index (CDLI), comprising the top 50 international companies in communication
and transparency on climate change
Our Company has won recognition for its energy efficiency and carbon management three times in
the last six years.
Annexes
Main Sustainability Indexes and Initiatives
2009 2010 2011 2012 2013 2014
Maximum Energy sector
score
88 90 92 98 98 100
Minimum score for Energy
sector companies to be
eligible for the CDLI
79 88 90 95 97 98 *
Repsol’s score 75 88 89 98 98 96
Repsol´s evolution CPLI - A B A- B B
70
75
80
85
90
95
100
105
2009 2010 2011 2012 2013 2014
Maximum Energy sector score
Minimum score for Energy
sector companies to be
eligible for the CDLI
Repsol’s score
(*) Since 2014 leaders are identified by geographical area and not globally as in previous years. According to 2014 score, Repsol is among the companies with the highest
score in transparency of the Energy sector.