Repsol is a global multi-energy provider that strives to drive the evolution towards a low-emissions energy model. Repsol's objective is to be a net-zero emissions company by 2050. Repsol was the first energy company to set this ambitious objective in line with the Paris Agreement and the United Nations Sustainable Development Goals. This target includes emissions both from Repsol's production and products. Repsol has therefore established intermediate goals in 2025, 2030, and 2040. With over 25,000 employees representing 89 nationalities who work across 34 countries, Repsol is a significant global multi-energy company. Repsol is certainly a major player in the Spanish electricity and gas market, with expanding low-emissions electricity generation solutions and growing development of a wide range of renewable solar and wind energy projects.
María Victoria Zingoni is currently executive managing director of client and low-carbon generation and a member of the executive committee at Repsol. Her responsibilities include managing the renewable electricity generation and low-emissions asset portfolio with the aim to further grow and internationally expand the business. She is also responsible for designing Repsol's multi-energy and mobility offering aimed at comprehensively meeting every mobility and energy need, while also overseeing the Mobility, LPG, Electric Mobility, Power and Gas Commercialization, Energy Solutions, and Lubricants businesses.
Since November 2018, she has been chair of Repsol Electricity and Gas, which has become a leading player in the commercialization and generation of low-carbon electricity in Spain. In addition, Zingoni is chair of RCPP (Repsol Comercial de Productos Petroleros) and a member of the Board at Petronor (Petróleos del Norte). She is also chair of the Spanish Energy Club and a member of the Universidad Austral Argentina Board.
To learn more about the future of low-carbon energy generation and the importance of digital transformation in the energy sector, Ray Wang, CEO and founder of a Silicon Valley-based advisory firm Constellation Research, and I invited Mavi Zingoni to our weekly show DisrupTV. Here are the key takeaways from our conversation with Ms. Zingoni.
Repsol's forward-looking vision is: "To be a global energy company that creates value in a sustainable manner through innovation, efficiency, and respect to drive progress in society."
Repsol is very committed to delivering the energy solutions that their customers need, whenever the customer needs it. Delivering sustainable energy has always been a focus area for Repsol. In fact, in 2019, Repsol was the first traditional oil and gas company in the energy sector to commit to net zero emissions by 2050. The renewable energy commitments have yearly targets that are very unique to Repsol. Repsol acknowledges that customers may need various forms of energy based on their usage requirements and geographies. For example, Repsol has a 100% low-carbon electricity generation capacity of nearly 3,000 megawatts (1MW = 1M watts).
The energy demand will continue to grow globally
Zingoni believes that the energy sector must provide a variety of energy solutions for this growing demand. The energy solutions must be accessible to all. An important part of the world today still has no access to energy solutions. The energy solutions must be reliable. The pandemic demonstrated the incredible importance of energy reliability. The energy solutions must be competitive and affordable. The energy must be sustainable. Growing demand for energy means we must deliver new sources of energy, including electrification of the economy, solar, and wind. That said, for some industrial purposes -- global transportation, aviation, shipments -- the traditional energy sources are an important source of energy demand. The energy mix is important and form follows function. The challenge is defining what the future mix of energy solutions will be to best serve society and global environments.
The electricity demand will certainly grow across all sectors. Repsol is developing technical advancements in battery, hydro, solar, wind, and traditional pump storage solutions to rapidly adapt and grow the renewable sources of energy.
Customers expect value, respect, efficiency, and forward-looking progress
The culture of Repsol is based on four core principles value creation, respect, efficiency, and anticipation. Repsol's ability to anticipate is based on their on-going customer engagements. Zingoni reminds us that customers are demanding for more transparency. Customers are also hyper-connected, more digital, and better informed. Customers expect your company to deliver solutions with a focus on improving our environments. Repsol is developing a vision of tomorrow based on their ability to anticipate their customer's future needs. To be forward-looking, Repsol is investing in renewable energy sources of energy and digital business transformation. The transition to the future is about collaborating and co-creating value with stakeholders, including customers and partners. Being a multi-energy global company means delivering smart options to customers. Repsol is shifting from being product-oriented to being customer-oriented. What kind of energy options are needed for each customer means Repsol is developing an omnichannel customer engagement strategy so that personalized services can be offered to all stakeholders.
Repsol digital transformation in numbers
Repsol operates like a technology company, leveraging a combination of existing and emerging combination of technologies to digitally transform the company. Repsol has launched more than 190 digital initiatives to improve efficiency, safety, and optimization of resources. There are 10,000 Repsol cross-company employees who are collaborating in the digital transformation process. Repsol has created 500 new roles and employees in order to accelerate digital transformation. In addition, Repsol is actively collaborating with 40 partners and suppliers to develop the digital roadmap of the future and to better the company the experiences of all their stakeholders - employees, customers, partners, and communities.
Repsol uses disruptive technologies to digitize its entire value chain. Repsol launched 190 digital initiatives to bring the company closer to its customers, drive new businesses, become more sustainable, and manage the cultural change taking place within their company. Repsol has 1,000 people involved cross-company to collaborate on digital transformation, with a focus on 10 technology hubs that include:
1. Data Analytics
2. Digital UX & Design
7. Cloud Competence Center
9. Digital Marketing
10. Hardware Robotics
Zingoni reminds us that it is important for companies to have a shared vision and ambitious goals and objectives. Repsol continues to evolve its culture to accelerate digital transformation. It means being more agile, more precise, building digital twin models of the business, improving health and safety standards, introducing robotic process automation in back-office and front-office functions, developing consumer-centric solutions, and identifying and creating new business model innovation. Zingoni shared examples of developing consumer mobile applications in 2018 with payment options and loyalty programs. Repsol is building digital solutions to improve the stakeholder experience, removing process friction and personalizing engagements in order to deliver value at the speed of need. I continue to see Repsol as a technology company in the energy sector.
I had the opportunity to visit and learn from the Repsol technologists and digital transformation leaders in Madrid, Spain. Repsol is a Salesforce trailblazer, leveraging an AI-powered customer relationship management platform to improve its employees, customers, and partners' experiences. I encourage you to watch our entire conversation with Mavi Zingoni to learn more about the future of low carbon energy solutions and the importance of digital business transformation in the energy sector.