Repsol has presented new Sustainability Plans for its Cartagena, Puertollano, Tarragona and La Coruña industrial complexes, which add to those already in place in Spain and Portugal, Bolivia, Ecuador, the USA, Peru, Venezuela, Brazil and Colombia. With the innovative approach of these plans, the company aims to maximise its contribution to sustainable development.
Repsol’s Sustainability Plans aim to identify and provide formal and systematic responses to the company’s stakeholders, in this case, in the vicinity of the company’s industrial complexes. They involve a change of concept and a major innovation in terms of corporate responsibility, on account of the methodology used to develop them.
Like those already existing, the plans that have been developed for the industrial complexes respond to the expectations and concerns of the communities and surrounding areas, and have been drawn up using a series of surveys to identify expectations, which include more than 100 interviews with representatives of stakeholders interested in the company’s activities, such as customers, suppliers, NGOs, universities, regulators, neighbourhood associations and partners, as well as perception surveys which are conducted periodically in the areas surrounding the complexes.
After identifying the expectations of these stakeholders, an analysis was carried out by the Complex management committee, based on which each centre adopted a number of specific, short-term actions, grouped into different programmes linked to fundamental corporate responsibility issues related to the company’s activity in each industrial complex. Overall, some 150 specific, short-term actions have been established that are related to various aspects of sustainable development, such as human rights, governance, environment, community development, etc.
The company also involves its workers in its commitment to corporate responsibility, on average; more than 90% of the actions included in these plans are linked to the company’s variable remuneration system.
Just as it does with all of its Sustainability Plans, Repsol will update these plans every year with new actions, after once again comparing the concerns and expectations of its stakeholders with the company’s performance. It will also publicise its degree of compliance with the actions established for each complex.
With this new approach, Repsol is reinforcing its vision of corporate responsibility, which it is voluntarily implementing, beyond existing legal requirements. Key to developing the Sustainability Plans has been the involvement of the company’s senior executives, who have formally and systematically incorporated the expectations of Repsol’s stakeholders into their decision-making processes.
The work being carried out by Repsol in relation to sustainability has been recognised on numerous occasions. The company appears in the most highly-regarded international corporate responsibility rankings, such as the Dow Jones Sustainability Index, in which the company has been sector leader for two consecutive years.
This news is courtesy of www.repsol.com
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