Repsol YPF

Summary of Repsol's statement of support to the EITI:

As part of our commitment to transparency, Repsol is committed to the Extractive Industries Transparency Initiative (EITI) since 2003 as a founding member. This initiative is the international benchmark for promoting transparency in the oil, gas and mining sectors and brings together governments, international agencies, state and private mining companies, investors and social partners in a multilateral and voluntary, organized in groups work.

We believe in the integrity, transparency and accountability as our corporate identity. We understand the transparency and disclosure process, which enables informed decisions to all stakeholders. In this sense, our efforts, in terms of information transparency, were recognized in 2009 by the Dow Jones Sustainability Indexes.

We understand the situation of citizens of some resource-rich countries where they cannot thoroughly enjoy the wealth they generate, and we agree that increased transparency could help to alleviate this situation. To achieve the transformation of resources into benefits for societies, companies and governments must provide more and better information on the magnitude of the revenues from extractive industries and how these revenues moving from producers to the government.

The process begins with the introduction of a national government, and then continue with the rest of the social and economic debates. A committee representing the various parties choose an independent administrator to apply the international accounting principles and prepare a work plan, having identified the needs of technical and financial assistance.

International-level company form:

1. Has the company published a clear public statement endorsing the EITI Principles and Criteria, and ensured this is accessible on its external website? YES
2. If applicable (i.e. for operations in EITI implementing countries that have completed at least one validation), has the company provided links on its external website to completed (Country-level) Company Forms? Not applicable
   
3. Has the company assigned strategic responsibility for EITI to a member of its senior management and appointed a lead contact person responsible for communication of the company’s EITI policy, action in support of EITI, and responding to queries from EITI stakeholders? YES
4. If the International EITI Conference has taken place in the validation period, did a member of senior management attend or send a statement of support? Not applicable
   
5. Where a company has a global sustainability report or corporate responsibility report, has the company included a summary of its contribution to EITI in this and on its external website? YES