Repsol Foundation and ILUNION will develop projects with social impact

This initiative is in line with the strategy and values of Repsol and its Foundation, and of the ONCE Social Group and its social companies ILUNION.

The Repsol Foundation and ILUNION have signed a framework agreement to jointly develop business projects with a social impact that will make it possible to create job opportunities for people at risk of exclusion.

The President of Repsol and its Foundation, Antonio Brufau, and the President of the ONCE Social Group and of ILUNION, Miguel Carballeda, signed this collaboration agreement, whose objective is to jointly develop business projects and businesses in the field of energy transition and sustainability, generating employment opportunities for vulnerable groups and people with disabilities.

The agreement is part of Repsol Impacto Social, an investment fund worth 50 million euros that will be used to invest in and develop a portfolio of social companies focused on contributing to the global challenge of energy transition and generating professional opportunities for people from vulnerable groups in Spain and Portugal.

Repsol Impacto Social, through this fund, plans to allocate, before the end of this year, some 5 million euros to its initial development and investment in the first social start ups. The objective is to enter an initial phase of the development of these companies and help them to grow and become profitable.