Reporting As a Cornerstone of Communication For Repsol YPF

Globalization, the awakening of new anxieties and expectations in companies that in the past were not revealed the economic influence of companies... All this brings about a new managerial environment with constant changes that are often unpredictable, where the capacity of a company to evaluate and adapt to new trends is more significant. Not only about creating value, but also about how to create it and which measures are adopted to make it sustainable. Reporting on non-financial topics is the cornerstone of our understanding on how to manage corporate responsibility, and particularly its communication. The Corporate Responsibility Report, a basic piece of our reporting system, seeks to be participatory rather than to be a unidirectional form of communication. By way of a materiality study and following the standard AA1000 AccountAbility guidelines, to distinguish the importance of questions related to corporate responsibility. Through the collaboration from stakeholders in elaborating the report, as external opinions of experts from the sector, to facilitate the reader an external vision of the questions dealt with; and as its senior management executives, to reflect company's commitment. Moreover, with the participation of an Independent Experts Committee, to analyze the questions dealt with in the report. Bearing this in mind, Repsol YPF has continued to incorporate into its elaboration process stakeholders that are representative of the company in order that the Report is not only participatory but rather it is of an assistance to improve company management. Also, for detecting possible areas of improvement and receive constructive criticism on its performance and practices. In other words, making company efforts and management practices are transparent to stakeholders. However, we should not forget the need of external players to express an independent opinion on the quality of information given as occurs with the external verification, and whether the company addresses stakeholders concerns as occurs with the GRI application level check.