Repsol raises low-carbon targets to speed up energy transition

 (Reuters) – Spain’s Repsol (REP.MC) raised its targets for building new renewable generation capacity and cutting emissions from its oil and gas business on Tuesday as part of a bid many in its sector in Europe are making to stave off global warming.

The company said it now plans to have installed wind, solar and hydro plants with a combined capacity of 20 gigawatts (GW) by 2030, a 60% increase on its previous target of 12.7 GW.

It also set its first-ever reduction target for what it defines as absolute emissions. The company now aims for a cut of 55% from its own facilities by 2030, and to shrink by 30% net emissions from all products it brings out of the ground, including those used by customers.

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