Commercial Relations with Third Parties Policy

Our aim is to establish relationships based on lawfulness, ethical principles, integrity, and the company's values, with partners, suppliers, contractors, and customers who collaborate with Repsol in the performance of its business activities and with whom it establishes commercial or business relationships.

Our commitments

Guide our activities, processes, and decision-making in accordance with the ethical principles and values that characterize Repsol.
Require the highest levels of ethics and transparency in the processes of selection, negotiation, and formalization of any relations with third parties, as well as in any meeting or forum where we meet with competing companies and act and require others to act during these processes, according to the law and in line with Repsol's values and with the guidelines, policies, and norms regarding ethics and conduct, safety, health, the environment, social and of respect for human rights, governance, and sustainability.
Carry out the necessary actions, as reasonably practicable, to identify and learn about our counterparties (due diligence) before making contractual commitments with third parties. In particular, procedures will be established to learn about the counterparty that is the actual holder of the operations, its actual activities, and, where applicable, the source of its assets.

Establish and maintain relations with third parties that are based on the principles of respect for the law, mutual trust and loyalty, reciprocity, and information transparency throughout these relations; and acting and requiring third parties to act in line with Repsol's values and with the guidelines, policies, and norms on ethics and conduct, safety, the environment, social and respect for human rights, governance, and sustainability, throughout these relations.
Avoid the establishment or maintenance of relations with counterparties that may have potential links to practices contrary to the aforementioned ethical principles and values and, in particular, that display unethical behaviors that may cause harm to people or social groups, facilities, or the environment; that may involve corruption, asset laundering, terrorist financing, sanctions, or any other situation that may be illegal or contrary to Repsol's policies and norms.
Promote and require to our counterparties in their relations with third parties, the commitment to observe ethical, safety, environmental, and social guidelines and respect for the rule of law, human rights, governance, and sustainability, in line with those promoted by Repsol.
Systematically assess the behavior and performance of counterparties with which the company establishes relations, identifying both risk situations that may require corrective action, termination, or the suspension of relations, as well as those partners, customers, suppliers, or contractors that, due to their capacity for innovation, collaboration, commitment, reliability, or other reasons, represent a competitive advantage to Repsol.