Spanish oil giant Repsol pledges to cut emissions to zero by 2050

Spanish oil giant Repsol has pledged to reduce net carbon emissions from its operations and products to zero, taking a €4.8bn hit in the process.

The company, which described the move as an industry first, announced the step at the UN climate change summit in the capital.

The Madrid-headquartered firm said that its new target covers 95 per cent of the emissions released by its products.