Repsol & Iberia Sign an Agreement to Advance Sustainable Mobility Solutions

Source: 7/14/2021, Location: Europe

- The collaboration is part of the Sustainable Development Goals (SDG) promoted by the United Nations through its 2030 Agenda.

- It includes joint programs and activities in three areas: the development of low-carbon aviation fuels, the production of electricity and renewable hydrogen to decarbonize Iberia's vehicle fleet, and the ecological transition towards more sustainable facilities through new technologies based on artificial intelligence, among others.

- Repsol has for several years been immersed in a process of transformation and diversification of its businesses with the aim of leading the energy transition. It was the first company in its sector to set the goal of achieving zero net emissions by 2050.

- Iberia is part of IAG, the first group to commit to achieving zero net emissions by 2050. In addition, a minimum of 10% of its flights will be using sustainable fuels by 2030.

- This agreement reinforces the role of both companies as key players in the energy transition and sets a general framework for collaboration to advance towards achieving the global objectives of sustainable development.

Iberia and Repsol have signed a collaboration agreement to move towards more sustainable mobility, among other objectives. The agreement between the multi-energy company and the airline is part of the Sustainable Development Goals (SDG) promoted by the United Nations through its 2030 Agenda.

Repsol CEO, Josu Jon Imaz, and Chairman of Iberia, Javier Sánchez-Prieto, signed an agreement that will develop ambitious joint programs and activities in three areas: the research and production of sustainable aviation fuels, capable of reducing their carbon footprint during their combustion on flights; the development of processes for the production and supply of electricity and renewable hydrogen that will decarbonize Iberia's fleet of land vehicles; and the energy management of Iberia's facilities through advanced systems (Energy Management System) and artificial intelligence, as well as self-consumption installations.

For Javier Sanchez-Prieto, Chairman of Iberia, “this agreement with Repsol is a strategic one, so Iberia can progress towards the commitment to sustainability that it has acquired. Our current sustainability strategy is based, above all, on achieving maximum efficiency in our operations, reducing the intensity of our customers' emissions, and offering them an increasingly sustainable travel experience. The agreement with Repsol reinforces our future commitment to the research and development of sustainable aviation fuels, the ecological transition of our equipment at airports, and a more efficient management of our facilities.”

For his part, the CEO of Repsol, Josu Jon Imaz, said that "the implementation of this collaboration agreement with a strategic partner for the company such as Iberia is another step in the company's Strategic Plan, which will allow us to move towards the goal of being a net zero emissions company by 2050. Repsol has the capacity to offer a global response to the needs of a sector such as aviation, which requires a multi-energy solution to cover its energy demand, both on the ground and in the air, where electrification presents difficulties."

For several years now, Repsol has been immersed in a process of transformation and diversification of its businesses with the aim of leading the energy transition. It was the first company in its sector to support the Kyoto Protocol, to issue a green bond, and in December 2019, to set the goal of becoming a net-zero emissions company by 2050. The 2021-2025 Strategic Plan will guide the company's transformation in the coming years and pick up the momentum of the energy transition.

The International Civil Aviation Organization (ICAO) has defined two global goals for the sector: a 2% annual improvement in fuel efficiency until 2050 and carbon-neutral growth from 2020. To achieve these goals and promote the sustainable growth of international aviation, the ICAO is implementing a series of measures that include improvements in aeronautical and operational technology, sustainable aviation fuels, and other market-based ones like those included in the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

Iberia is part of IAG, which has gone beyond this ICAO objective and has been the first airline group to commit to achieving zero net emissions by 2050. In addition, a minimum of 10% of IAG airline flights will use sustainable fuels by 2030. The group will purchase one million tons of sustainable aviation fuel per year, which will allow it to reduce carbon emissions by two million tons by 2030, the equivalent to approximately the CO2 absorbed by a forest with an extension similar to 400,000 soccer fields. IAG will also become the first airline group in the world to extend its commitment to net-zero CO2 emissions to its supply chain.

Iberia is basing its environmental strategy on three pillars: more efficient operations, which include all the initiatives for renewing its fleet, reducing fuel consumption and the electrification of its vehicles, among others; a more sustainable travel experience for its customers, by digitizing its services, gradually eliminating plastics on board, developing its waste management system, and carbon offsetting; and its commitment to aviation's ecological transition, mainly by collaborating in the research and development of sustainable fuels.

In 2020, Repsol produced the first two batches of bio jet in the Spanish market in its industrial complexes in Puertollano and Tarragona and will manufacture the fuel in other Repsol facilities in Spain. Reaching this milestone, in line with its ambition of offering cutting-edge solutions to the aeronautical sector, the multi-energy company has made progress in producing low-carbon fuels in the aviation sector, where alternatives such as electrification are not currently viable.

Repsol is also the leading multienergy supplier in Spain, providing solutions to improve efficiency and expand the role of low-emissions energies. The company has already rolled out initiatives to manufacture low-emission fuels based on waste in its different industrial complexes, a fundamental part of its decarbonization strategy. It will also produce net-zero emission synthetic fuels from renewable hydrogen and CO2, which can be used in modern aircraft engines.

As such, the partners have set up a working group, made up of representatives from the two companies, in which all future activities and projects will take place with the aim of achieving more sustainable mobility and more efficient energy management.

Canada >>  7/4/2022 - FortisBC Energy Inc. says it will partner with Suncor Energy Inc. and Hazer Group Ltd. to build a hydrogen pilot project in Port Moody, B.C.


France >>  7/4/2022 - - McPhy signs a second order to supply the Hype network of stations in the Ile de France region
- The first order dates from 25 April 2022 with t...

United States >>  7/1/2022 - The U.S. Department of Energy (DOE) Hydrogen Program recently honored three National Renewable Energy Laboratory (NREL) researchers for their outstand...
United Kingdom >>  6/30/2022 - EQTEC plc, a world-leading technology innovation company enabling the Net Zero Future through advanced solutions for hydrogen, biofuels, SNG and other...

United States >>  6/30/2022 - The Advanced Clean Energy Storage project (also known as "ACES") has received a $504.4 million loan guarantee from the Department of Energy (DOE). Hyd...
Netherlands/Holland >>  6/29/2022 - Dutch Minister for Climate and Energy Rob Jetten announced new plans for the construction of a national transport network for hydrogen. Gasunie will d...

Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.