Repsol ethics
Our values
We have our own Code of Ethics and Business Conduct to regulate our behavior model in all our activities and operations beyond what is legally required of us.
Our values are efficiency, respect, anticipation, and value creation. They are the basis of our identity as an exemplary and upstanding global company that strives for the well-being of people and works to build a better future.
The actions of each and every person who forms part of Repsol determine both the present and future of our company. We therefore have our own Code of Ethics and Business Conduct which establishes a reference framework for the kind of behaviors and standards which we expect from each and every one of our employees in their daily work. As it is impossible to anticipate all situations that could occur in our work, we have a basic set of guidelines for personal and professional behavior, and we communicate all of our actions truthfully, clearly, and responsibly.
Our Code of Ethics and Business Conduct ensures that everything we do is done responsibly and honestly throughout the entire value chain and that it reflects our commitment to respect human rights, equal opportunities, environmental protection, and transparency of information. All of our employees make this commitment, particularly directors and members of the Board of Directors, who apply the code in all their decisions and lead by setting an example for all of us who form part of the company.
We have no doubt that training and awareness are key to effectively transmitting the Code of Ethics and Business Conduct to our employees, which is why throughout the year we organize different sessions and courses aimed at providing an in-depth explanation regarding its scope and the obligations it involves. The code also serves as a reference guide for our relations with third parties, as well as with partners, suppliers, and collaborating companies, and helps to strengthen relations both with our stakeholders and with society as a whole.
Ethics and Compliance Committee
Our Ethics and Compliance Committee was founded in 2006 and is made up of company directors who demonstrate senior management’s commitment to all matters of ethics and transparency. The committee’s functions include:
- Promoting awareness of the Code of Ethics and Business Conduct
- Proposing control actions and mechanisms to encourage, supervise, and assist compliance with the Code of Ethics and Business Conduct
- Ensuring that all employees may confidentially report possible breaches of the code
- Solving or proposing solutions to any infractions as it deems appropriate
- Ensuring that all employees may confidentially report possible breaches of the code
- Solving or proposing solutions to any infractions as it deems appropriate
Additionally, the Ethics Committee forms part of the Repsol Crime Prevention Body in accordance with Article 31 bis of the Spanish Criminal Code and it supervises our Crime Prevention Model aimed at preventing the risk of criminal acts. The committee carries out the corresponding duties of prevention, response, verification, and reporting.
Lastly, the committee is in charge of managing our Ethics and Compliance Channel.
Repsol Ethics and Compliance Channel
Repsol is firmly committed to our culture of compliance and ethical integrity. We understand this to mean that individuals who report irregular or illicit conduct play an essential role in uncovering and preventing such infractions, protecting the correct and proper workings of the Company, and generally contribute to the well-being of society as a whole. Therefore, it is of the utmost importance that reporters receive active and all-encompassing protection, without neglecting the rights of those affected by their reports or the investigations launched as a result.
Repsol's Ethics and Compliance Channel and internal information system exist to ensure these needs are met in accordance with the law and in line with the following principles:
