Repsol S.A. (acquired Talisman, which was renamed Repsol Oil & Gas Canada Inc.) Statements on Climate Change “Repsol shares the concern of society about the effect human activity is having on the climate and is firmly committed to the aspiration of limiting to 2ºC the increase in the average global temperature of the planet, compared to pre-industrial levels, by the end of the century. As a signatory of the Paris Pledge for Action, Repsol supports the Paris Agreement and works to be an active part of the solution to climate change. Accordingly, Repsol will reinforce its strategy to reduce its carbon footprint, enabling us to reduce CO2 emissions by 2.1 million tons in 2020, compared to 2014 levels, with 85% of this objective achieved in 2018, and set even more ambitious objectives for 2025.”228 “This transition to a low-emissions future requires a holistic approach that means considering the costs and maturity of the emerging and available technologies without prejudging which of them will ultimately succeed. There are many possible paths towards a low-emissions future, in which Repsol has identified three common elements: enhanced energy efficiency and energy savings; emission reduction in the generation of electricity, where natural gas will be a key player, and the deployment of low-emission technologies in final sectors.”229 “We share society's concern about the effect that human activity is having on the climate and we are firmly committed to the aspiration of limiting the increase in the planet's global average temperature to 2ºC at the end of this century with regard to pre-industrial levels.”230 “By 2040, reduce our carbon intensity by as much as 40% from 2016, in line with what is required by society and the Paris Agreement (2°C scenario).”231 Statements on Human Rights “First of all, I would like to highlight our commitment to respect for human rights, in accordance with the United Nations Guiding Principles on Business and Human Rights, as well as with the 10 Principles of the UN Global Compact. I would also like to stress that Repsol supports the United Nations 2030 Agenda for Sustainable Development and we are convinced that energy companies can play a key role in promoting their goals. Repsol has therefore established priorities in order Repsol S.A. (2018), Integrated Management Report, Message from the CEO, available at https://www.repsol.com/imagenes/global/en/integrated-management-report-and-independent-verification-reportnon-financial-2018_tcm14-147660.pdf (last accessed on 12 September 2019). 229 Id. 230 Repsol S.A (2019), 2019 Global Sustainability Plan, p. 21, available at https://www.repsol.com/imagenes/global/en/2019_global_sustainability_plan_tcm14-148662.pdf (last accessed on 12 September 2019). 231 Id., p. 22. 228 Annex D: Corporate Statements on Climate Change and Human Rights | 60