This Oil Major Just Pledged Net Zero Emissions By 2050

Repsol, the Spanish energy major, has pledged that it will become a net zero emitter by 2050, boasting that this made it the first oil and gas company to do that. The plan focuses on reducing the carbon intensity of its products rather than a direct cut in emissions, using as a baseline its carbon intensity levels from 2016. This carbon intensity should fall by 10 percent by 2025, further declining to 20 percent in 2030, and still further to 40 percent by 2040. A decade later, Repsol should be producing clean energy in quantities equal to its emissions.…