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Engagement case study: Repsol – Federated Hermes Limited

Given the high human rights risks associated with oil and gas projects and Repsol’s large-scale operations, Federated Hermes Limited encouraged the company to improve its reporting on human rights and show the effectiveness of its policies.

Posted on Feb 12, 2024

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... Repsol is a multinational energy company headquartered in Madrid, Spain - considered the largest industrial company in the country. It committed to becoming a key player in the global energy transition by introducing a plan to allocate €6.5 billion to low-carbon initiatives in its 2021-2025 Strategic Plan¹ and being the first energy company to set a net zero emissions ambition by 2050.

Given the high human rights risks associated with oil and gas projects and Repsol’s large-scale operations, the company may have a significant impact on people’s lives, including risks of human rights abuses and inadequate grievance or remediation mechanisms. Federated Hermes Limited therefore encouraged the company to improve its reporting on human rights and demonstrate the effectiveness of its policies.

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