transparency - Fundación Repsol
Transcription
transparency - Fundación Repsol
REPORT TRANSPARENCY RESPONSABILITYINNOVATION INTEGRITY RESPONSABILITY TRANSPARENCYflexibility INNOVATION Fundación Repsol Division of Social Studies and Communication C/ Velázquez, 166 28002 Madrid Telephone: (+34) 91 753 90 79 www.fundacionrepsol.com Design and layout: www.andrewmcconochie.com Photos: Fundación Repsol archives. Archives of the Technical School of Mine and Energy Engineering at the Technical University of Madrid. Cartagena City Council archives. “Social Energy, energy of the people” 004 Fundación Repsol 2014 Report contents Activity Report 06 Letter from the Chairman 14 This year's milestones 08 Management bodies 16 The Foundation in figures 18 Social and Institutional Relations Diversity and integration Responsible citizenship Social development Arts and culture 60 Energy and Sustainability 66 Education and Training Science and energy dissemination Encouraging research Values education 80 Financial Information 10 Social energy Entrepreneurs Fund Energy Observatory Biodiversity and climate change Audit report Balance sheet P&L account 006 Letter from the Chairman LETTER FROM THE CHAIRMAN Dear friends, This year I am once again pleased to present Fundación Repsol's Activity Report in which we reflect on the most relevant activities from the 2014 financial year. This year we continued to strengthen our commitment to improving the quality of life of many people and ensure a more sustainable future. We intensified our main action lines and maintained sustained growth of our investment which has exceeded 14 million euros. At Fundación Repsol we continue to work toward integration and a diverse society with equal opportunities for all. Social, cultural, educational, and sports programmes were extended within this scope, benefiting over 100,000 people. In 2014 we continued to collaborate with Fundación Once in the Learning without Limits and Inclusive Campus programmes which aim is to promote access to university for disabled individuals. Commitment and Innovation The Entrepreneurs Fund has moved forward in its consolidation process generating innovative entrepreneurial projects that offer solutions in the scope of energy and energy efficiency. Almost 30 start-ups were incubated with the support of our Fund and in 2014 we said goodbye to the projects that were part of the first group in 2011 and that were significantly developed throughout this period. In our commitment to contribute to a more sustainable future, we believe that an essential task is raising awareness among young people. With the Mobile Classroom and our science workshops we have encouraged interest in science and technology, bringing the world of energy closer to the public and transmitting the importance of using it responsibly. Fundación Repsol is also committed to young people with its Vocational Training scholarship programmes as well as within the university environment which we extended in 2014. We have encouraged these students to find work in our scope of action and facilitated access to higher studies for disadvantaged students. Social progress In the Latin American and African countries where we operate, we carry out programmes that respond to the specific needs of the communities. The visual and auditory health programmes in Bolivia, Senegal, Peru, and Morocco stand out in this regard. the Energy Observatory. In other scopes we also supported different initiatives that bring art and culture closer to society. Fundación Repsol also channels the social concerns of the Group's employees through the Repsol Volunteering programme. New initiatives were launched this year such as Energy with Conscience and activities were held in Portugal for the first time. Management and transparency In terms of management, Fundación Repsol continued to strengthen its commitment to transparency and good governance. In 2014 it issued a new risk management framework in addition to the Good Governance Code and the Supplier Ethics and Conduct Code that we were already following. I would like to close by thanking Fundación Repsol’s employees, the members of the Board of Trustees, and our collaborators for their hard work, dedication, and support while carrying out Fundación Repsol's work. In Peru our efforts are focused on assistance programmes for young people with limited resources or who are at risk of exclusion. In the food safety project we work to reduce childhood anaemia. Within the framework of our objective to contribute to a more sustainable energy model in 2014, we continued to work on publications for Antonio Brufau Niubó Chairman of Fundación Repsol In 2014 we intensified our main action lines and maintained sustained growth of our investment. 008 MANAGEMENT BODIES Management and Transparency Good Practices Fundación Repsol understands that our commitment to developing social responsibility should go hand in hand with criteria regarding good governance, transparency, and accountability for our resource management. We have made Company values our own and we base our management on integrity, responsibility, transparency, flexibility, and innovation with respect and anticipation. We believe good governance through transparency and responsibility helps us to transform our mission into results, create value, efficiently utilise our resources, and to build trust. For that we have a Good Governance Code approved by our Board of Trustees. In addition, we work with more and more transparency by truthfully and reliably communicating online our Mission, Vision, Values, governing bodies, as well as our objectives, results, and the beneficiaries of our actions. We do all of this to effectively communicate with society which benefits from our actions. Impact Evaluation In order to promote transparency and good governance, demonstrating how our Mission and Values have led to verifiable results, Fundación Repsol has a method to evaluate the impact of its projects. Based on the basic references for measuring the impact of social initiatives, this innovative tool is adapted to the specific needs of the key Project Management process, which assists in decision making, and is integrated into it. This system also allows us to work with our collaborators with transparency throughout the execution cycle of the projects we manage jointly. Fundación Repsol works with over 400 collaborators who offer their experience and knowledge within their scope of influence. This allows us to optimise resources and synergies, achieve objectives more efficiently, and obtain greater social benefit from our projects. Finally, as part of our commitment to improving our foundational activity and reinforcing our internal control culture, we have implemented a risk management framework, our Crime Prevention Model, which is able to mitigate potential criminal risks identified in our scope of influence. Board of Trustees Chairman Antonio Brufau Niubó First Vice-Chairman Luis Suárez de Lezo Mantilla Second Vice-Chairman César Gallo Erena Board of Trustees Begoña Elices García Pedro Fernández Frial Arturo Gonzalo Aizpiri Josu Jon Imaz San Miguel Cristina Sanz Mendiola Secretary Iñigo Alonso de Noriega Satrústegui Governing Bodies This is the highest governing, administrative, and representative body of Fundación Repsol and it must comply with its foundational purposes. EXECUTIVE CoMmittee Its powers include approving annual action plans and budgets as well as preparing and approving annual accounts which are audited externally. The Board of Trustees has eight members, all of whom have business experience and the knowledge needed to drive and develop the Foundation's activity in line with its goals. The Steering Committee is responsible for the Foundation's day to day management. It manages resources and coordinates and launches strategic projects that have been approved by the Board of Trustees. The Foundation has an organisational structure with several areas of activity: Social and Institutional; Education and Training; Energy and Sustainability; Social Studies and Communication; Strategy and Control; Economy and Finance; and Human Resources. Vice-Chairman César Gallo Erena Director Staff Manuel Bravo López Director of the Social and Institutional Relations Department Javier Inclán de la Cuesta Director of Economy and Finance and Human Resources Rubén Ramos Medina Director of Education and Training María Pilar Rivera Vizcarrondo Director of Energy and Sustainability Eduardo Romero Palazón Director of Strategy and Control Encarnación Sanz Gil Director of Social Studies and Communication Gabriela Urosa Cruz Director of Volunteering Lola Zamarra Arjonilla 010 SOCIAL ENERGY INTEGRITY RESPONSABILITY flexibility INNOVATION flexibility RESPONSABILITY INNOVATION TRANSPARENCY INTEGRITY TRANSPARENCY mission and values We are Social Energy Fundación Repsol is Repsol’s response to its vocation for social responsibility, channelling its social and cultural action. Our objective is to contribute to the well-being of society, improve the quality of life of people, and ensure greater social, educational, environmental, and cultural development. This will benefit society as a whole and allow us to act especially in areas where the company operates at the domestic and international level. Beyond Spain and Portugal, Fundación Repsol operates in Latin America and Africa. Fundación Repsol works to contribute to a more sustainable future, carrying out its own projects and collaborating with leading organisations in the areas where it can offer more both due to its knowledge, capabilities, and experience as well as those of the Company. Our actions and projects are focused on the concept of Social Energy, the energy of the people, through the development of specific projects in accordance with the needs of the communities and groups that we aim to help. We make the Company’s values our own and we base our management on integrity, responsibility, transparency, flexibility, and innovation. Fundación Repsol works to improve the well-being of society and create a more sustainable future. 012 This Year's Milestones This Year’s Milestones 014 This Year's Milestones Highlights of 2014 ENERGY OBSERVATORY Sixth Edition The Energy Observatory contributes to promoting knowledge, research, and innovation in the scope of energy and energy efficiency by conducting technical and social studies. For the sixth consecutive year the report on Energy Efficiency and the Intensity of Greenhouse Gas Emissions in Spain and the EU15 was published. SCIENCE AND ENERGY DISSEMINATION Mobile Classroom The world of energy. Did you know...? The Mobile Classroom has travelled across Spain visiting 83 towns in which 38,375 visitors were able to learn more about the world of energy and the need to use energy responsibly through different interactive and educational activities. DIVERSITY AND INTEGRATION For equal opportunities Fundación Repsol carries out educational, cultural, and sports programmes to promote equal opportunities and full integration of people with disabilities. GRANTS FOR TRAINING Scholarships Fundación Repsol continued to extend its scholarship programme to improve access to higher education and to promote vocational training as an educational alternative. Professional training scholarships were extended to the Puertollano, Cartagena, and Tarragona Industrial Complexes. At the university level, the programme was extended with the signing of a collaboration agreement with the University of Castilla-La Mancha. SOCIAL DEVELOPMENT Improving the quality of life ENTREPRENEURS FUND Driving Talent The Entrepreneurs Fund continued on with the launch of its fourth call for proposals and the incubation of 21 projects and four ideas in the Fund's accelerator. These projects and ideas, selected in previous years, receive financial support, specialised consulting, training, and access to potential customers and investors. In the communities where the Company operates, Fundación Repsol carries out programmes that promote social integration, high-quality training, healthcare, and a better quality of life for the most vulnerable groups and for those at risk of exclusion. RESPONSIBLE CITIZENSHIP Energy with Conciousness This educational programme was implemented in order to raise awareness among young people about the responsible use of energy resources, encourage teamwork, and promote interest in science. It is directed at secondary school students and has the support of volunteers who share their knowledge on energy efficiency. 016 THE FOUNDATION IN FIGURES THE FOUNDATION IN FIGURES BENEFICIARIES 760,774 SOCIAL progress 488,831 Beneficiaries total investment 14,487,935€ portugal responsible citizenship 7.1% €1,031,422 8.1% €1,175,688 energy and society social progress VOLUNTEERING 104,807 49,159 Indirect beneficiaries Direct beneficiaries 17 1,882 Actions Volunteers 28,669 Beneficiaries 7.3% RESPONSIBLE CITIZENSHIP 55,732 Beneficiaries 19.2% colombia 38.2% €5,536,097 3.8% energy and society senegal 146,011 bolivia cultural and scientific support 37.9% €5,490,151 41,531 Beneficiaries spain trinidad and tobago 8.7% €1,254,577 5.5% cultural and scientific support morocco overcoming barriers 64.3% overcoming barriers Beneficiaries inclusive campus peru 7 University participants 122 SCIENTIFIC-educational WORKSHOPS Students 197 4,399 Workshops Attendees entrepreneurs fund 25 Incubated projects MOBILE CLASSROOM 38,375 83 Visitors Towns 018 SOCIAL AND INSTITUTIONAL RELATIONS Social and Institutional Relations Diversity and integration. Social development. Responsible citizenship. Volunteering. Art and culture. 020 social and institutional relations diversity and integration Diversity and integration Fundación Repsol contributes to the social integration of disabled people by promoting inclusive activities within the framework of equal opportunities. La Canción Propia Exhibit at the Círculo de Bellas Artes in Madrid Adapted theatre workshops Inclusive culture Adapted theatre workshops For the fifth consecutive year Fundación Repsol launched a theatre workshop programme for disabled people which was carried out in collaboration with Varela Producciones and the Blanca Marsillach theatre company. This year Fall in Love with Lope, a selection of love sonnets by Lope de Vega, was performed, ensuring that the attendees became familiar with the classic author from the Spanish Golden Age. The tour with 12 performances travelled to A Coruña, Bilbao, Cartagena, Madrid, Puertollano, and Tarragona, making it possible for 1,979 disabled people to be able to enjoy this fun initiative. After the performance attendees were able to go on stage and show their spontaneity with improvisation activities led by a social worker. La Canción Propia Exhibit The objective was to promote the full integration of people with disabilities into all aspects of life. In 2014 another step was taken with a special performance on the International Day of Persons with Disabilities which takes place every year on 3 December. This performance took place in the La Latina Theatre in Madrid with a play by Adolfo Marsillach Yo me bajo en la próxima ¿Y usted? (I'm getting off at the next stop, what about you?) with a cast of professional actors with and without disabilities. A youth performance called Una diferencia, mil similitudes (One Difference, One Thousand Similarities) also took place along this action line in Puertollano. It explained to children the values of solidarity and respect and promoted equal opportunities. Artists in The Hat in Fine Arts Fundación Repsol maintains its commitment to inclusive culture and is committed to teaching artistic techniques to people with learning disabilities, giving them equal opportunities. It once again implemented El Sombrero en Bellas Artes (The Hat in Fine Arts) programme in conjunction with the Debajo del Sombrero (Under the Hat) Association. During the course, eight disabled students participated in Nature Drawing I and II, Painting, and Sculpture Drawing classes with the rest of the students of the Fine Arts Department at the Complutense University of Madrid. These eight artists presented their work at the La Canción Propia exhibit which took place at the Círculo de Bellas Artes (Fine Arts Forum) building in Madrid. Over 700 people went to see this exhibit made up of 27 works that explored different ways to express art. The exhibit provided these artists with a space to show off their creations, recognising their talent and opening up the doors to the job market. 022 social and institutional relations diversity and integration The Más cultura, Más inclusión (More Culture, More Inclusion) project aims to break down the barriers that keep people with learning disabilities from participating in the arts. More culture, More inclusion With the project Más cultura, Más inclusión (More Culture, More Inclusion), Fundación Repsol and FEAPS Madrid (Confederation of Organisations for People with Cognitive Disabilities) continued making progress on its objective to achieve full integration of people with learning disabilities in cultural activities not only as spectators but also as culture creators and professionals. The Inclusive Culture Manifesto was created within the framework of this project and is a document which presents recommendations to carry out inclusive cultural projects and functions. It serves as a “guide for action to build a culture open to diversity,” as stated in its introduction. Over 20 entities in the scope of culture and disabilities provided their experience and participated in its drafting. This work was supplemented by a number of cultural activities in which disabled people held active roles, such as museum visits, music and dance workshops, etc. One notable activities was the screening of the documentary Otras Voces (Other Voices), directed by Diana Nava. In this audiovisual piece six disabled individuals raise their voices to share their experiences as actors, painters, dancers, writers, filmmakers, and cultural guides. The documentary was created as a call to cultural agents to show that people with disabilities have a lot to offer in terms of culture. Over 3,800 people benefited from this project as they participated in the different initiatives. Literary Workshops Fundación Repsol and the Argadini Association continue working to foster the creative skills of disabled people through literature. Within the framework of this project, literary workshops called Escribir por el placer de contar (Writing for the Love of Storytelling) and Creas tú (It's Your Story) were carried out. In the former, 16 people with learning disabilities attended different literary sessions each week to explore their creativity. There they also shared their work and literary concerns with their peers. Bienvenidos a la radio The students’ creations were collected in the book Contigo Sí which was presented during the annual poetry reading. The authors also participated in the Madrid Book Fair where they signed copies of their work. In 2014 students from the workshop participated in different supplementary activities such as the Tertulia at Café Gijón, the Second Fundación ONCE Poetry Marathon, and the “Sidecar Poetry” cycle at a school in Asturias for World Down Syndrome Day. The Creas tú story workshop had four students. During the sessions, the creative abilities of young autistic people were developed, improving their ability to relate to their environment. Otras Voces Screening Inclusive theatre performance Welcome to the radio Fundación Repsol collaborates with Ondas Abiertas (Open Waves) Association in the radio programme Bienvenidos a la radio (Welcome to the Radio), a show created by disabled people. The initiative aims to encourage the integration of this group in society and the workforce by having participants are not only help as broadcasters but also collaborate in preparing the different programmes. Programming includes current affairs, especially those relating to disabilities. Bienvenidos a la radio can be heard weekly on Radio Libertad (FM 107). The project is committed to professionally training participants and in 2014 the radio training programme was launched. This programme offers nine disabled broadcasters in-person training sessions at the station's facilities and continuous online monitoring, thus demonstrating the Foundation's commitment to the professional development of the participants. 024 social and institutional relations diversity and integration Eñe Festival Fundación Repsol participated in the Eñe Festival with different inclusive activities. Over 9,000 people attended this event's 2014 edition, a point of reference in the world of language and culture. Fundación Repsol offered attendees the opportunity to enjoy three activities that showed how culture is a tool for integration, including these activities with other workshops in the programme. The performance of Des/envolturas by the professional dance company Pisco Ballet de Mayte León included people with learning disabilities and its use of well-prepared choreography helped show how the things around us don't allow us to show how we really are. Poet Juan Carlos Mestre and author Ramón Irigoyen met with students in the Fundación Repsol literature workshop Escribir por el placer de contar (Writing for the Love of Storytelling) to read some fragments from the book Contigo Sí, a collection of poems written by people with and without disabilities. Furthermore, the Atalaya theatre group, comprising of illiterate Roma women, gave a performance of the House of Bernardo Alba full of force and temperament. 22nd International Painting and Drawing Contest for Fundación Síndrome de Down Madrid Within the framework of the agreement with Fundación Síndrome de Down Madrid and on the occasion of the 25th anniversary of the Madrid-based organisation, Fundación Repsol supported the 22nd International Painting and Drawing Contest for People with Down Syndrome. This initiative aimed to recognise the talent of disabled artists and to publicise their work so that they may access the art market as professionals. The six winners, three in the oil and acrylics category and three in other techniques, did not only receive recognition from the judges but were also awarded a monetary prize to continue creating their art. In 2014 a total 89 pieces were entered into the contest and were evaluated by a panel of professional judges comprised of important figures in the world of art including the painter Antonio López. All of the pieces were presented in an exhibit open to the public at Sala El Águila in Madrid. Within the framework of this agreement, Fundación Repsol supported other awareness initiatives, such as celebrating World Down Syndrome Day and the commemorative 25th anniversary concert which took place on 18 November in Madrid's National Auditorium to raise funds for the training programme. Exhibit of Painting and Drawing Fundación Síndrome de Down Madrid 026 social and institutional relations diversity and integration Raising Awareness Training without Limits Fundación Repsol and Fundación ONCE continued the awareness programme called Learning without Limits, which is aimed at the educational community in order to demonstrate the capability of disabled people to continue learning at higher levels, especially at university. Several activities took place in 2014: Participating students in the 1st Without Limits Contest a motivational tool, ensuring that parents and the educational community are aware of the importance of supporting people with disabilities so that they may continue their education. Inclusive campus The third edition of the Inclusive Campus, Campus without Borders programme, developed by Fundación Repsol and Fundación ONCE with the support of the Spanish Ministry of Education, Culture, and Sport (MECD) took place. The 1st Without Limits Dramatic Reading Contest was launched to encourage the participation of students with and without disabilities in inclusive activities and to value the presence of disabled people in the classroom. This project supplements the Learning without Limits programme which allows students with a range of functional abilities to have the experience of spending several days on university campuses. The modalities were the following: dramatisation of an existing text or dramatic reading of an unpublished text including disability, disability in the subject matter, or sharing the project with disabled students. The winners were the Otxarkoaga Training Centre in Bilbao, IES Mediterráneo School in La Línea de la Concepción, Cádiz, and the ONCE Centre for Educational Resources in Seville. The main objective of this initiative is to raise awareness among students with disabilities of the possibilities available to continue studying at the university level within a framework of equal opportunities. The design of new materials for teachers and parents was also worked on. Along these lines, development began on the teacher training course on inclusive education based on the needs identified in the research conducted in 2013 in collaboration with the Carlos III University. Work on the Guide for Parentsof Students with Disabilities also began and it aims to function as In 2014, 122 students with and without disabilities participated in the programme, ensuring a fully inclusive experience in the seven universities that participated this year (University of Murcia, University of Salamanca, University of Valencia, Technical University of Valencia, University of Málaga, University of Granada, and University of Navarre). During their stay the students were able to take part in different educational, cultural, leisure, and social activities to foster the exchange of experiences and knowledge with the university community. Inclusive campus 028 social and institutional relations diversity and integration Engine of inclusion In conjunction with Fundación Isidre Esteve and the Spanish Federation of Sport for People with Physical Disabilities (FEDDF), Fundación Repsol organized the Motor de inclusión (Engine of inclusion) meeting in order to analyse the situation of adaptive sports in Spain. Athletes Isidre Esteve, Spanish enduro champion and rally driver, and Albert Llovera, the first disabled driver to compete in the Spanish land rally championship, participated in the event. Ariel Villagra, the Director of the Master’s in Physical and Sports Activity, People with Disabilities and Social Integration from the Autonomous University of Madrid (UAM) was also present as well as representatives from Fundación Repsol and Casa de América, where the event took place. This initiative led to an interesting debate on the importance of sport and the physical and psychological benefits it offers people with disabilities. A special focus was placed on motor sports since they are the only sports where genders, ages, and different abilities compete in the same class. The bikes of a few world champion motorcycle riders well as the materials used by adaptive riders in races were also exhibited for the meeting. Games for Integration Games for integration For the third consecutive year the Games for Integration were held, an initiative to raise social awareness about the importance of sport and equal opportunities. Working with the Spanish Federation of Sport for People with Physical Disabilities (FEDDF), Fundación Repsol offered the opportunity to play several adaptive sports such as basketball, cycling, five-a-side football, badminton, and table tennis so that participants could put themselves in the shoes of a disabled person. Furthermore, each activity was led by an athlete specialised in that sport to act as a supervisor and demonstrate the abilities of people with disabilities. In 2014 the Games for Integration took place in Tenerife, Las Palmas, and Madrid, with a total of over 7,700 participants. Fundación Repsol promotes activities that raise awareness about the importance of sport values and inclusion. 030 social and institutional relations diversity and integration Adaptive learning 15 women moving toward employment Fundación Repsol and Integra Foundation implemented a programme to support employment for women who have been victims of gender violence. The main objective is to boost the capabilities of these women so that they can be successful in their professional lives and improve their self-esteem. REDempleo Project Fifteen women participated in a complete training programme in which various methods of entering the professional sphere were examined, including working for an employer, self-employment, or launching an entrepreneurial project. The programme is supplemented by self-esteem building and coaching activities. In 2014 nine of the participants found jobs at companies or began an entrepreneurial project. Volunteers from Repsol also participated in the programme, accompanying the women during their internships with the Company which also support this project. REDempleo In the last edition of the R Contest, one of the projects selected was REDempleo (employment network), from FEAPS Madrid. This initiative includes a complete programme to raise awareness and promote employment with support for people with learning disabilities. Within the framework of the project, a supportive employment network made up of 12 job placement services (belonging to non-profit organisations) throughout the Region of Madrid was established. Training through this network was offered to people with disabilities in order to improve their employability. 129 people benefited from this and 83 people received the necessary support during their internships and employment search. The efforts to raise awareness through the Dame un minuto (Give me a Minute) campaign is notable. It is comprised of nine videos, starring three people with learning disabilities who are looking for employment, three who have already found it, a trainer, and a businessperson. These individuals discuss the reasons why companies should hire people with disabilities. Dame un minuto (Give me a Minute) Campaign Dual Training School The Dual Training School was another of the projects that won Fundación Repsol’s R Contest in 2013. This initiative was developed in collaboration with the Association of People with Physical Disabilities and Mental Disorders of the Region of Madrid, FAMMA-Cocemfe Madrid in order to improve the professional qualifications of unemployed people with disabilities through training related to building maintenance. The campaign was presented within the framework of the event Managing People, Managing Talent, one of the four actions to raise awareness within the business community, and was carried out in 2014 to help business owners see the potential that people with disabilities have to work and the support offered by the employment network. Awareness workshop Dual Training 19 students participated in this project which was carried out in two phases: one with theoretical training and the another with skill development through professional internships with companies. Beyond training, labour intermediation was carried out, helping ten of the students find jobs while the rest are currently finishing their internships. 032 social and institutional relations diversity and integration Training programme for people with cerebral palsy theoretical training and began an internship at Adecco Foundation. This project improved the employability of individuals with cerebral palsy, offering an approved adaptive training programme, paced appropriately for the participants and which showed the importance of providing the necessary support to ensure the complete integration of people in society and the workforce. A multi-disciplinary team of professionals participated in the project which not only coordinated academic aspects, but also responded to the needs of the students. Family and Disability Chair Fundación Repsol, Telefónica, Down Madrid, and Comillas Pontifical University (ICADE) promoted the Family and Disability Chair to foster research and improvement to the quality of life of people with learning disabilities. Family and Disability Chair Intermediate VT for People with Cerebral Palsy Fundación Repsol continued its collaboration in the administrative management training programme for people with cerebral palsy. This project was implemented in collaboration with the Bobath Foundation with a total of eight students. Six of the students received an administrative management module by attending class daily. At the end of the theoretical and practical training they received an official certificate recognising their qualification to work as professionals like all other students with VT certificates. The other two students took an introductory module to continue their training. In 2014 one of the students finished his Within the framework of this initiative, two training programmes were offered for people with learning disabilities. One programme trained students to be educational assistants and the other trained students to be IT assistants. 47 students participated in these programmes. These programmes took place at the Cantoblanco, Madrid campus of the Comillas Pontifical University where participating students shared their experiences with university students through a series of inclusive activities. The first group of students graduated in 2014 after two years of training. The Chair also worked to raise social awareness about equal opportunities. Within this framework, different programmes were sponsored such as workshops and conferences, notably the 2nd Family and Disability Conference about citizenship, human rights, and learning disabilities which was attended by more than 400 people that year. It should be noted that in October the Chair gave the annual award to the United Nations Committee on the Rights of Persons with Disabilities and Soledad Cisternas, the Committee Chair, collected it. Paideia Galiza Scholarships Fundación Repsol works with Fundación Paideia Galiza to promote the integration of people with disabilities or at risk of social exclusion with training. Thus Repsol and the Foundation signed a framework agreement with this entity to promote inclusive actions, especially in regards to employment. In 2014, Fundación Repsol continued to support a scholarship programme that provided 80 students with the transport they needed to reach these training programmes that improve their employability. Adaptive training encourages the social and workforce integration of people with disabilities. 034 social and institutional relations diversity and integration Adaptive sports Cycling Fundación Repsol continued its collaboration with Fundación También in the Adaptive Cycling programme. The objective of this initiative is to show the benefits of sport as a tool for integration, promoting inclusive activities in which people with and without disabilities participate within a framework of equal opportunities. Almost 6,000 people participated in the programme in 2014. The activities carried out include weekly events in Juan Carlos I Park in Madrid, exploring the wooded paths through different parts of Spain, such as La Rioja, Navarre, and Seville, as well as activities to raise awareness. The Fundación Repsol-Fundación También professional handbike team also participated in nine races. This adaptive cycling team is made up of four cyclists with physical disabilities and is the only one in the Region of Madrid. It was created for its members to enjoy and take part in races while also serving as an example for inclusion and to invite people with disabilities to play sports. Winter sports Fundación Repsol collaborates with the Spanish Federation of Sport for People with Physical Disabilities (FEDDF) and the Valle de Arán Adapted Winter Sports Centre (CDIA) to provide the materials and infrastructure necessary for disabled athletes to train in the facilities for alpine skiing, cross-country skiing, and snowboarding. A programme for high level performance, aimed at professionals, a training programme, and a talent search programme have been created with the Foundation's support. Courses were also given for adaptive skiing coaches and instructors. In 2014 the first CDIA Sport and Integration Event was held. It was organised to promote adaptive skiing among disabled people and to publicise the advantages of adaptive sports as they are one of the best tools to encourage comprehensive development and integration of this group. Paralympic athletes from the CDIA who competed in the alpine skiing and snowboard events in the Sochi Winter Games also participated in the event. Adaptive Sailing School 036 social and institutional relations diversity and integration Sports Centre Bridge Fundación Repsol collaborates with Fundación Isidre Esteve on the Sports Centre Bridge project, an initiative that encourages people with disabilities to play sports, showing the physical and psychological benefits that sports have for overcoming barriers. With this project the beneficiaries learn to exercise by adapting conventional gym activities and thus gaining autonomy in their daily life. For this, specialists design personalised training sessions for the 25 beneficiaries of the project, carried out in the High Performance Centre in San Cugat del Vallés (Barcelona). Within the framework of this project several training activities were developed under the title “Fitness adapted to disabilities and reduced mobility” and were attended by 60 students. In collaboration with Fundación Isidre Esteve, different inclusive sports activities, such as bicycle races, adaptive walks, and activities to help others understand the lives of people with disabilities, were also carried out in Lérida and Vido. Over 1,600 people with and without disabilities participated in these activities. Basketball Fundación Repsol implemented the Basketball and Disability project to encourage people with both physical and learning disabilities to practice this sport.It worked with the Tres Cantos Basketball Club to support the creation of a co-ed basketball team with over 20 people who have learning disabilities. The idea was to increase the number of leisure sport activities offered to this group as well as to use the benefits of sports as a tool for integration, encouraging relationships between new players and the other teams within the Tres Cantos Basketball Club. Within the framework of this project, Fundación Repsol also supported the 39th European Wheelchair Basketball Championship which took place in Madrid. Sailing Fundación Repsol provided Monte Real Club de Yates de Baiona with new sailing boats for the Adaptive Sailing School so that people with disabilities could have better access to the sailing world. Students with physical disabilities, learning disabilities and/or sensory impairments are able to enjoy the benefits of this sea sport thanks to these adaptive sailing boats. The students went sailing in the sea every other week and over 60 people from the Centro Juan María and the Encaixamos, Vontade, and Avelaíña associations benefited. Students learned about basic issues regarding sailing in their classes and they achieved greater mobility, balance, and control over their bodies. Furthermore, they also strengthened their social abilities as they spent time with people from different associations and the instructors from the yacht club. Adaptive basketball Adaptive skiing Fundación Repsol-Fundación También handbike team Sports Centre Bridge Adaptive sailing European Adaptive Basketball Championship Playing sports is a tool for integration that provides physical and psychological benefits for all involved. 038 social and institutional relations RESPONSIBLE CITIZENSHIP RESPONSIBLE CITIZENSHIP Volunteering In 2014 the Repsol Volunteering programme was strengthened as it launched new activities in accordance with volunteer interests and acted in different Spanish provinces as well as in Portugal, its first step toward internationalisation. Support for vulnerable groups In 2014 volunteers participated in different activities to support and improve the quality of life of different vulnerable groups or groups at risk of social exclusion. Volunteering contributes to building a better future and also provides a response to the social concerns of our volunteers. Fundación Repsol organised a soup kitchen activity every month with the Santa María Josefa Soup Kitchen in Madrid. A total of 95 volunteers helped to prepare and serve food in the dining hall. Thanks to this support over 3,500 people, including families with small children that received bags of food staples such as rice, milk, biscuits, etc. prepared by the volunteers, were able to meet their basic food needs. The elderly were also assisted. Five volunteers helped meet the social needs of 37 people by sharing their time and participating in fun activities. For the first time the Solidarity Garden activity took place in Lisbon with 40 Repsol Portugal employees lending a hand as volunteers. These gardens are grown to provide basic products to food banks and the fruits and vegetables are planted, grown, and collected with the help of volunteers. Another interesting initiative from 2014 was the rehabilitation of urban spaces where 50 volunteers Valladolid Rehabilitation Volunteering collaborated to refurbish the headquarters of different social entities. The activity took place in A Coruña, Cartagena, Madrid, Valladolid, and Lisbon, Portugal. Thanks to the work of the volunteers, over 1,000 people will be a ble to enjoy improved spaces and services in places such as the Centro Caracol de Orcasur – ICEAS (Association for cooperation and social support of school integration) in Madrid which provides educational support and organises leisure activities to help families at risk of social exclusion, the Asociación Accem in Cartagena, which is visited by 400 people every day, and the Centro Albor in Valladolid, which assists 350 vulnerable women, among others. Volunteers with adaptive sports A total of 27 volunteers participated in the adaptive cycling event in Juan Carlos I Park in Madrid and shared the fun experience. In 2014 almost 500 people with and without disabilities were able to enjoy cycling in an equal environment. Urban centre rehabilitation programme In this same year volunteers had the opportunity to participate in the Games for Integration. They travelled to the Canary Islands and helped supervisors and federated athletes with disabilities explain the different activities to people interested in the initiative. Volunteering in the arts Fundación Repsol and CEATE (Spanish Confederation of Classrooms for the Elderly) organised a training course for cultural volunteerswithin the framework of the Senir Energy initiative. A total of 10 Repsol employees and retirees, all over 55 years old, attended the sessions in order to become volunteers that help others discover the details of different cultural spaces, such as the Naval Museum and the Archaeology Museum. In fact, several Repsol volunteers have already started giving guided tours, benefiting over 3,000 people. Seven people became cultural volunteers after completing the course in Cartagena in 2013. The first specific course called Sorolla, la magia de la Luz (Sorolla, the Magic of Light) was attended by 35 people and was an activity that encouraged seniors to actively participate in society. 040 social and institutional relations RESPONSIBLE CITIZENSHIP Innovation camp Educational volunteering In 2014 Fundación Repsol continued its collaboration with Junior Achievement in several projects aimed at children and young adults. A programme called The Advantages of Staying in School was carried out and 45 volunteers held sessions with high school students to raise awareness about the importance of completing their education with regards to their future. In addition, four volunteers participated in the programme called Educating on Solidarity. Seventeen volunteers collaborated in the programme called Ethics in Action, which was aimed at 15- to 17-year old students. In these sessions the young people had to learn to make decisions in accordance with ethical values in order to prepare them for their personal and professional future. 782 students benefited from these programmes which took place in A Coruña, Cartagena, Puertollano, Seville, Tarragona, Valencia, and Valladolid. In 2014 Fundación Repsol also participated in the Global Enterprise Project (GEP), an initiative aimed at encouraging the entrepreneurial spirit and teamwork among young people between the ages of 15 and 18. Seven volunteers became tutors for the work groups of young people who had to develop a mini company that would help them adopt a proactive vision toward their professional future. This initiative was carried out in Madrid and Barcelona and benefited 156 students. The best teams participated in the European championships with students from 13 countries, and there, one of the teams led by a Repsol volunteer was declared the winner. The University Creativity & Innovation Challenge also took place in 2014. In this initiative, ten volunteers participated with university students to solve a problem regarding energy efficiency. Each team was comprised of one volunteer and five university students who shared their experience and used their creativity to design an innovative initiative, product, or service. They then created a business plan based on that concept. The event took place in Madrid, but teams from different universities and disciplines participated. Environmental volunteering Fundación Repsol and Asociación Reforesta organised a monthly trip to the mountains in Madrid called Family Environmental Days as well as the Discovering the Sierra de Guadarrama activity in which people with disabilities or at risk of social exclusion were accompanied to the mountains. A total of 172 volunteers participated in these initiatives that aimed to raise awareness about respect for the environment and sustainable development. Educational volunteering In 2014 a technical-environmental volunteering activity was carried out in which Repsol volunteers provided their professional experience and technical knowledge. Over six months, ten volunteers participated in two different activities: the restoration of a stretch of a cattle path to improve its ecological functionality and a study of the environmental quality of the upper course of the Manzanares River. The work continued throughout 2015. Innovation camp 042 social and institutional relations RESPONSIBLE CITIZENSHIP Energy with Conciousness Thirteen volunteers participated in the pilot phase of this Fundación Repsol project. The volunteers visited classrooms to share their knowledge about energy and energy efficiency as well as share their professional experience with secondary education students. This was done through different activities and experiments. Other activities In 2014, Fundación Repsol participated in the first Ibero-American Conference on Corporate Volunteering which took place over eight months, with events in ten countries and several sessions that took place at the Fundación Repsol headquarters in Madrid. This event, promoted by Voluntare, Fundación Hazloposible, and the Latin American entity Fórum Empresa, was created to share the volunteering experiences of companies, entities, NGOs, and public bodies on both sides of the Atlantic in order to analyse new action lines for the future. Our presence at this conference boosted the positioning of Fundación Repsol and the Repsol Volunteering programme as being strongly committed to the future. Repsol Volunteering also strengthened its presence in initiatives such as the fourth International Corporate Volunteering Week, Give & Gain Day 2014, in which over 600 volunteers from 25 entities carried out different activities. During the Christmas season, 853 people from eight entities in Madrid enjoyed traditional activities and shared them with volunteers. Citizen R and to encourage respect and care for the environment. Fundación Repsol continued to carry out the Citizen R Great Game in different towns in Madrid and Tarragona throughout 2014. This initiative, which promotes a culture of participation, respect, solidarity, and responsibility among people and with the environment, ended in the Plaza de Callao in Madrid. A total of 4,700 people participated in the Great Game, taking on questions and challenges in order to raise awareness about the need to be responsible with our use and consumption of energy In addition, a new activity took place in the Citizen R programme in 2014: sustainability and recycling workshops. In line with the values of Citizen R, this activity used games to raise awareness among children about the need to reduce consumption of bottles and cans, reuse things before throwing them away, and the importance of recycling. Specialised instructors explained different types of waste and how to dispose of them responsibly. The participants then had the opportunity to test their creativity by building a sustainable toy out of recycled materials such as bottles, cans, plastic, etc. The activity was carried out within the framework of the Madrid City Council programme Convive Madrid Río and took place in Tres Cantos, Madrid with over 1,500 participants. 044 social and institutional relations RESPONSIBLE CITIZENSHIP Reforestation Commitment to the environment is essential for Fundación Repsol. Because of this, planting and reforestation efforts in areas where the Company operates continued in 2014. In Tarragona, new planting along the Francolí River was carried out with the help of 500 people and Asociación Aurora in order to help restore this park with native vegetables. Furthermore, collaboration with Fundación Apadrina un Árbol continued in order to restore the Alto Tajo area in Guadalajara which was ravaged by a forest fire in 2005. In 2014 a total of 1,700 trees were adopted with conservation and care efforts on the newly replanted species. Supporting Children In 2014, Fundación Repsol initiated its collaboration with Ayuda en Acción with the Youth Support Programme. Due to the financial crisis, many children in Spain are in situations of vulnerability. The project aims to prevent social exclusion and to support families by covering children's basic needs so that they can continue to lead normal lives. A lunch assistance programme, leisure activities, and school suppliers, among others, were offered to encourage social cohesion and equal opportunities. Fundación Repsol’s support benefits several centres in A Coruña and helps 550 children. Beyond support for basic needs, it also collaborates with the A Coruña City Council to offer 200 spots in the Educational Leisure Activities Programme, where different activities are directed by specialised instructors, as well as 20 spots in the Coruña Diversity Programme which provides support for children with special learning needs. More than words The third edition of the More than words initiative took place in 2014, allowing Repsol employees throughout the world to present and share their solidarity projects. Fundación Repsol donated 6,000 euros to 40 projects that promote actions in the scope of social development, support for children, education, and inclusion of groups at risk of social exclusion. Since the initiative’s implementation in 2012, Fundación Repsol has collaborated on over 100 projects that aim to improve the quality of life of vulnerable groups or focus on the needs of specific groups. In 2014 the programme for Repsol shareholders called Solidarity Share was launched. With this initiative shareholders are able to select up to three solidarity projects to receive support from Fundación Repsol for development. The three beneficiaries receiving 6,000 euros in 2014 were: ASAM (Association of Health and Mutual Assistance), Fundación Albihar, and Mediterránea NGO. Projects from the More than words programme 046 social and institutional relations RESPONSIBLE CITIZENSHIP Along this line of responsible citizenship, the Foundation signed an agreement to work with Fundación Brafa to develop the Web Sportmagister project which will promote the values of respect and solidarity through sport. It also continued to support the Red Cross Maritime Rescue programme aimed at safeguarding human life at sea. Thanks to this collaboration the Red Cross can maintain its maritime fleet which is used on rescue missions, searches, and towing other vessels. Other Initiatives Throughout the year Fundación Repsol carried out different initiatives aimed at improving the quality of life of people in different environments, especially those in which the Company is present. In this context it collaborated on refurbishing the paediatric wing of the Santa Bárbara Hospital in Puertollano and in improving the facilities of Centro Aspades-La Laguna which helps people with learning disabilities and their families. Moreover, it donated a vehicle to the Blood Donors Association to facilitate its work. In A Coruña work was done on the Meicende Social and Cultural Centre which offers social and cultural services to over 3,000 people, and the San Xosé Obrero School was given educational material and smart boards. In 2014 there were over 700 interventions that directly benefited more than 1,000 people throughout Spain. It should be noted that in December 2014 the Red Cross Emergency Response Meeting took place in Cartagena. This support for the Red Cross was recognised by the humanitarian institution on its 150th anniversary. On occasion of this celebration, different awards were given to collaborating entities, with Fundación Repsol as one of the recipients. Regarding health and research, Fundación Repsol also maintained its collaboration with entities such as Fundación Barraquer for optometry, Fundación Pro CNIC for research on heart disease, CSIC with the project Biodiversity and Climate Change, and Fundación Pascual Maragall and its Forgetfulness against Alzheimer's campaign raising awareness about this disease. Fundación Pro CNIC Meeting In Portugal Fundación Repsol collaborated with the food bank Banco Alimentar Contra a Fome de Setúba by donating a vehicle to transport food. Vehicle donation to the Setúbal Food Bank Pro CNIC Centre for Heart Disease Research Support for the Red Cross programme 048 social and institutional relations SOCIAL DEVELOPMENT SOCIAL DEVELOPMENT Eyes of Bolivia Programme The notable activities carried out include those aimed at improving the quality of life of society’s most vulnerable groups. Latin America Bolivia Bolivia's National Theatre School In 2014 Fundación Repsol continued to work with Bolivia's National Theatre School which began in 2009 with the aim of providing young people from all backgrounds with access to professional training in the performing arts. Preparatory and pre-university courses were offered that allowed interested students to register for the National Theatre School and start to gain an understanding of the studies that they would take on when beginning their university degree. Two contests were held once again: the Campeones de la lectura (Reading Champions) contest, which promotes reading among children and pre-adolescents, and the Teatro de Bolsillo (Pocket Theatre) contest, whose winners had their works published and received a monetary award. Eyes of Bolivia In Bolivia, the amount of sunlight and the altitude as well as difficult access to adequate optical healthcare, the shortage of healthcare services, and the lack of economic resources cause its population to be especially vulnerable to vision problems. In 2014, working with the Eyes of the World Foundation, Fundación Repsol implemented the Eyes of Bolivia programme, a project with the aim of improving access to optical care in the Bolivian cities of El Alto in La Paz and Tarija. For this programme 472 healthcare professionals received basic ophthalmology training, nine residents received cataract surgery training and community training, and 498 professors received training on visual acuity testing. This year there were 21,830 direct beneficiaries and an estimated 131,000 people are expected to benefit in the project’s three year timeline. Some activities were carried out to celebrate the 10th anniversary of the National Theatre School including the performance of La brújula del Chaco in Bolivia and participation in the Contemporary Theatre Festival. The project as a whole directly benefited a total of 100 people, all of them being students of the School, while there were 12,000 indirect beneficiaries, those being the audience members who were able to witness the democratisation of access to culture. Performance of La Brújula del Chaco at the Royal School of Dramatic Art in Madrid 050 social and institutional relations SOCIAL DEVELOPMENT Colombia Comprehensive Child Development Centre in Cartagena de Indias With the Juan Felipe Gómez Escobar Foundation, Fundación Repsol continued to support the Comprehensive Child Development Centre in Cartagena de Indias, where three to 12-month old babies receive comprehensive medical, nutrition, physical and psychomotor developmental care as well as vaccinations and stimulation. This project which began in 2010 aims to improve the living conditions of children under one year old and to reduce childhood mortality. It provides orientation and training sessions about maternity and productive activities for the mothers, most of whom are and at risk of social exclusion. In 2014 170 babies came to the centre, entailing a total of 935 indirect beneficiaries. Community Development in Arequipa Fundación Repsol collaborated with Fundación Santos Toledano to develop a programme for disadvantaged women and young people in Pachacútec and Arequipa, Peru. The main objective is to promote basic education, occupational training, and technical and professional skills for these young people in order to improve their employability and to contribute to the comprehensive development of these areas. Within the framework of this project two actions were carried out: Projects like the one in Colombia focussed on attending to and improving the quality of life of children. One action promoted technical and occupational training in high-demand specialities in the restaurant industry (gastronomy, food industry, and organisation of events). For this, occupational training classrooms were provided with equipment to train 120 mothers who are the heads of families in situations of extreme poverty in the marginal urban areas of Arequipa. Peru Child Development Centre in Cartagena de Indias 052 social and institutional relations SOCIAL DEVELOPMENT The other action fostered activities regarding child care and the well-being of boys and girls under five years old. In 2014 these activities improved the educational opportunities of 40 children. Promotion of Food Security in AngamosVentanilla Fundación Repsol collaborated with the United Nations World Food Programme (WFP) in the project Promotion of Food Security to Reduce Anaemia, a disease which is most common among children under five years old, a demographic which makes up 68% of the population of Angamos-Ventanilla. This project aims to reduce the high incidence of anaemia among children and lactating women. Different actions were carried out within the framework of this project to raise awareness in the community such as nutrition fairs, a gastronomy contest, socialisation events, and awareness workshops on children's nutrition. 909 children from a total of 802 families from seven towns benefited. Asociación Cultural Teatro Vivo GLP Fundación Repsol collaborated with Asociación Cultural Teatro Vivo (Living Theatre Cultural Association) to help Peruvian families with limited resources to live in healthy environments. It provided them with training on the use of LPG kitchens so that they could replace kitchens that use contaminating fuels. Awareness was raised with 495 educational workshops and 71 fairs, with almost 94,000 people attending these events in 2014. Training healthcare professionals in Trinidad and Tobago Trinidad and Tobago Organ transplant and donation programme In 2014 Fundación Repsol worked on strengthening the Donation and Transplant Institute (DTI) in which the Ministry of Health collaborates. This project works with professionals from the country, training administrative and healthcare personnel to improve the possible donor detection process and make the transplant procedure more efficient. In 2014 doctors from three hospitals and another cooperating doctor who participated in the program received training, therefore ensuring. the sustainability of the Donation and Transplant Institute in the long term. In Peru Fundación Repsol supports the World Food Programme to promote food security and reduce childhood anaemia. 054 social and institutional relations SOCIAL DEVELOPMENT Senegal Light Route Fundación Repsol and Fundación CIONE Ruta de la Luz continued to collaborate in the programme to improve the eye health of the people of Senegal. The programme is aimed at students between six and 13 years old and at professionals. A team of three ophthalmologists visited schools where 564 exams were carried out and 104 pairs of glasses were made. Students from the Louly Beneteigné School in Senegal After Senegal, Ligth Route visited Peru where 291 patients had exams and 92 pairs of glasses were delivered. Educational improvement in Senegal In 2013 a collaboration agreement was signed with Fundación Por Una Sonrisa in Africa which works on building and providing equipment to a high school in Louly Benteigné in Senegal. Thanks to this project the quality of life and social development of the area is improving. Ruta de la Luz in Senegal Africa Morocco Hear again to live again For yet another year and in collaboration with the 2014 Titan Desert race and GAES Solidaria, this project was carried out to help diagnose and monitor hearing problems of people living near the race course. During the race volunteers delivered 57 hearing aids, reviewed and repaired 35 devices, and performed 350 hearing exams. 407 people directly benefited from this project. Over 1,000 children from the community attend the school and have been able to continue their education. Until now these children were unable to continue studying due to the difficulty of reaching other schools located in towns that are too far away to walk. Hear again to live again programme Titan Desert Race 056 social and institutional relations ART AND CULTURE ART AND CULTURE Fundación Repsol is committed to promoting art and culture as assets for all of society. concerts, rehearsals, and meetings, with over 33,000 people in attendance,most of whom were primary and secondary school students. Cartagena's Roman Forum Collaboration between Fundación Repsol and MACBA Designing America Exhibit Restoration of Cartagena's Roman Forum Fundación Repsol in collaboration with the Cartagena City Council promotes the restoration and appreciation of Cartagena's Roman Forum, which is of great historical and archaeological value. The project, with an investment of 4 million euros, will be carried out in four phases from 2013 to 2017. Notable aspects of the work carried out in 2014 include significant pictorial findings from the 3rd century BC. Work has also been carried out on the entire forum by restoring ancient Roman roads from the 1st century BC. In 2014 the space was opened to the public and guided tours were allowed. This archaeological site is located atop the Molinete hill on the border of the ancient Roman city of Carthago Nova. Restoration of this site will make it the most important cultural point, benefiting the people of Cartagena as a whole. MACBA Fundación Repsol supports the Barcelona Museum of Contemporary Art (MACBA) and the dissemination of art and culture. Within this framework, it collaborated with the Fundació MACBA in an innovative accessibility project that aims to bring art closer to all groups. The Fundación Repsol hall was inaugurated in October, comprising of 10 works of art from the MACBA Collection and which offers visitors a unique experience that allows them to experience art with all senses. They can see, touch, hear, and even smell the pieces. The space adapts to the needs of people with sensory impairments and also offers a unique experience for other groups such as children and people with learning disabilities. The recreations were prepared by the museum’s Conservation and Restoration team with the authorisationand participation of the artists of the original works who also supported the project. Symphonic Orchestra of Galicia Fundación Repsol collaborated in the Symphonic Orchestra of Galicia programme, Son Futuro, an educational programme promoting music education among young people, supporting the Youth Orchestra, the Children’s Orchestra, the Youth Chorus, and the Children's Chorus. It also aims to promote music culture among young people by offering educational concerts which help them to discover music through adaptive performances. This year the Son futuras promesas season was started off with musical performances led by young players at the Centro Ágora. During the 2013-2014 season, 66 events were held, including Short Story Award Fundación Repsol, the Xunta de Galicia, and Editorial Galaxia planned the 8th edition of the Galician Language Short Story Award in order to promote Galician literature and culture. The judges, comprising representatives from Galicia’s Secretary General for Language Policy of the Ministry of Culture and Education, Fundación Repsol, the Royal Academy of Galicia, the Galician Writers Association, and Editorial Galaxia, awarded Santiago Lopo for his work entitled A diagonal dos tolos. Designing America Exhibit Fundación Repsol collaborated with the US-Spain Council on the exhibitionDesigning America: Spain's Imprint in the United States which was on display at the Spanish National Library from August until 12 October 2014. The exhibit inaugurated by His Majesty King Felipe VI included over 70 documents about Spain's contribution to the landscape and cities of the United States. The material which includes texts, photographs and maps belong to the Spanish National Library collections, the Spanish General Military Archive, and the Spanish Naval Museum Archive. 058 social and institutional relations ART AND CULTURE Castell de Peralada Festival Unfiltered Art exhibition Fundación Repsol hosted the Unfiltered Art exhibition at the Museo Municipal in Puertollano which displayed over 50 works created by disabled people. On this occasion, an extended collection that included works which had not yet been displayed was brought to the city. Furthermore, the exhibit was also on display at the Repsol Campus, the Company’s head office, during an open house for employees and family members which took place from 23 to 27 June. The exhibit was comprised of some of the pieces from the Repsol collection and included 180 pieces in total. It served as a way to recognise the talent of disabled artists who share a different way of expressing and feeling art. Atapuerca Congress As sponsor of Fundación Atapuerca, Fundación Repsol supported the 17th International Union of Prehistoric and Protohistoric Sciences, which took place in Burgos in September. This science event welcomed over 1,500 scientists from 55 countries, including Eudald Carbonell, Co-Director of the Atapuerca Project. Fundación Repsol made two sessions possible: The archaeology of fuel: social and environmental factors in behavioural strategies in multiple resource management, and The archaeology of the initial use of fire. The Congress had a total of 115 sessions: 52 regarding palaeontology, 39 regarding protohistory, and 34 with general content. Six keynote speeches were given by important researchers in each subject. Participants, beyond attending this unique meeting, also had the opportunity to visit the Atapuerca siteand participate in special tours. Performance of En un lugar del Quijote in Puertollano Other Events Within the framework of other cultural events nearby, other cultural initiatives took place such as the performance of En un lugar del Quijote (In a place of Don Quijote) in Puertollano. This co-production between Ron Lalá and the National Classic Theatre Company reinterprets Cervantes's work, making it more relatable to a modern audience. Another cultural initiative was the restoration of the Nuestra Señora de la Asunción church in Puertollano, a building from the 16th century which has been declared a Cultural Heritage Site. It also supported the Perlada Festival and the Canonigròs International Festival in 2014, both of which take place in Catalonia. Cantonigròs International Music Festival Institutional collaborations Fundación Repsol promotes and supports other educational, art, and culture initiatives with collaboration agreements with important institutions such as the Teatro Real, the Gran Teatre del Liceu, the Museo del Prado, the Museo Reina Sofía, the Instituto Cervantes, Fundación Hispano Brasileña, Fundación Princesa de Girona, Fundación Luis Seoane, AECID, Casa América, Fundación Abadía de Montserrat, and Fundación Orfeo Catalá, among others. 060 ENERGY AND SUSTAINABILITY energy and sustainability Entrepreneurs Fund. Energy Observatory. Biodiversity and climate change 062 Energy and sustainability Entrepreneurs Fund Entrepreneurs Fund An initiative promoting innovation and technological development in energy. Training session Entrepreneurs at the Repsol Technology Centre Prototype from the Ledmotive project The Entrepreneurs Fund was strengthened as an incubator of entrepreneurial projects in the scope of energy and energy efficiency and as an ecosystem of innovation and entrepreneurship. The seven projects selected in the first call for proposals in 2011 completed their incubation in 2014. They were significantly developed in this period and continue to grow in line with the progress reached in this period. The projects from the second call for proposals continued their second year of incubation. Five of them have developed and began testing their first prototypes, two have considerably progressed in their development, and another, with the contribution of the Entrepreneurs Fund, has received an influx of capital from a technological shareholder. In September 2014 the projects and ideas selected in the third call for proposals began to be incubated. After evaluating over 740 proposals, the judges decided to support five projects and four ideas for incubation. The selected projects include two ideas that had been selected in the previous call for proposals for further development. Training events about project submission took place for the finalists of the third call for proposals and two subsequent weeks of training took place for the selected projects and ideas in this call for proposals. The fourth call for proposals took place between July and November and received 243 proposals. Although this number was lower than that for the previous call for proposals, but there was a significant increase in the quality of the ideas presented and the number of projects from universities and research centres. The latter represented 40% of the total number of proposals. A joint training session with the projects from the first and second call for proposals took place to conclude the first call for proposals. In this training session they shared their experiences from participating in the Entrepreneurs Fund. Training adapted to the needs of the incubated projects is one of the most relevant aspects of the Entrepreneurs Fund. Thus the projects and ideas selected in the second call for proposals held three training sessions which included new topics such as project management, taxation, and human resource management. Participation in forums In order to improve and promote new lines for collaboration with investment capital, several sessions about project submission took place. For example, the First Water Forum which was attended by several leading companies from the Spanish water industry and had the support of the ESADE Cleantech Forum was carried out in Madrid and Barcelona with participation from several entrepreneurs from the Fund. Biz Barcelona Fundación Repsol encouraged entrepreneur participation in the Spain Start-up Summit Start-up Competition and five projects from the Fund were selected among the 100 best of the 3,000 projects presented. Three of them were among the 30 best and Vortex was awarded the best start-up in the industrial area. The Entrepreneurs Fund was present at EMTech España and other entrepreneur forums such as Salón Mi Empresa in Madrid and Biz Barcelona, and it also participated in events and conferences, including the Energy and Entrepreneurship Meeting organised by the Basque Business Development Agency and held at the Scientific and Technological Park of Bizkaia. The projects incubated in the Entrepreneurs Fund obtained significant national and international recognition 064 Energy and Sustainability ENERGY OBSERVATORY BIODIVERSITY AND CLIMATE CHANGE ENERGY OBSERVATORY Fundación Repsol conducts studies to drive a more sustainable and responsible energy model. Technical Report The sixth edition of the study on Energy Efficiency and the Intensity of Greenhouse Gas Emissions in Spain and the EU15 was published in 2014. The report analyses changes in the indices of energy efficiency and of the greenhouse gas emissions intensity, both globally and by financial sectors and subsectors. The report also includes their projected evolution until 2025. Coal, petrol, and natural gas represent more than 80% of primary energy consumed worldwide. Generally the main conclusions were as follows: The EU's stipulated reduction to energy demand in 2020 by 20% seems feasible in Spain. This is possible as long as there are no other measures apart from those that have already been adopted, since consumption has already decreased due to the financial crisis. World demand of primary energy, which is closely related to economic growth, continued to increase and was mainly driven by emerging countries. The Energy Efficiency and Greenhouse Gas Emission Intensity indices evolved positively in 2012 and 2013 in Spain and these indices are not expected to improve compared to previous years (since 2000). BIODIVERSITY AND CLIMATE CHANGE Biodiversity is a key element in developing a sustainable development model. Fundación Repsol worked with BC3 (Basque Centre for Climate Change) in the Low Carbon Programme with which several lines of work have been developed to focus on training and the generation, sharing, and dissemination of knowledge in the scope of the economy of the environment and natural resources. Highlights from this year's activities include the Energy Asset, Investments under Uncertainty and Real Option workshop which took place on 30 and 31 October at the Fundación Repsol headquarters. International experts from the realms of academia and business participated in the event. A lecture on Evaluating the Impact of Political Policy was given by Alberto Abadíe, a Public Policy Professor at the John F. Kennedy School of Government at Harvard University. A collection of specialised articles was also published under the title Green Energy and Efficiency, an Economic Perspective and work on the thesis Transition to a Low Carbon Economy Integrated Assessment Modelling was continued. The thesis will be completed in 2015. Lecture on Evaluating the Impact of Public Policy 066 EDUCATION and training EDUCATION AND TRAINING Science and energy dissemination Encouraging research. Values education 068 EDUCATION AND TRAINING SCIENCE AND ENERGY dissemination A CORUÑA In 2014 the Mobile classroom Visited: Science and ENERGY dissemination Fundación Repsol shares the energy world and encourages interest in science, technology, and respect for the environment. PONTEVEDRA receiving NAVARRE LA RIOJA SORIA LÉRIDA ZARAGOZA TARRAGONA GUADALAJARA TERUEL ÁVILA 38,375 visitors TOLEDO VALENCIA CUENCA CIUDAD REAL BADAJOZ CÓRDOBA ALBACETE JAEN MURCIA SEVILLE CÁDIZ SANTA CRUZ DE TENERIFE The different interactive and educational activities carried out in the Classroom on special monitors allowed visitors to become familiar with the energy world and transmitted the importance of using it responsibly. Visitors were able learn about how oil is extracted, refined, and how its products are obtained as well as the latest news in research and innovation of the energy industry. In 2014 the Mobile Classroom visited 83 towns and received 38,375 visitors. In its first two years of travel the Classroom has had 73,673 visitors. BURGOS LEÓN GUIPÚZCOA ÁLAVA VALLADOLID SEGOVIA SALAMANCA MADRID This initiative is mostly aimed at primary and secondary school students, vocational training students, and students studying technical degrees, however, it is also intended for teachers, the general public, and professional associations and groups. The Classroom has cutting-edge technology and is also adapted for people with different abilities, enabling them to access and participate in the activities. BISCAY ORENSE PALENCIA 83 towns Mobile Classroom The world of energy. Did you know...? In order to contribute to educational, environmental, and cultural development within society, Fundación Repsol implemented this initiative in 2013. Its main objective is to educate on the processes in the value chain of the oil and gas industry, the use of oil and its derivatives, and to share the importance of energy efficiency and sustainable development. CANTABRIA LUGO LAS PALMAS review energy information. The Aprendenergía website aims, among other objectives, to to educate on energy information and to encourage responsible use and protection of the environment. Aprendenergía (Learnergy) website The Aprendenergía (Learnergy) website, a site that was created as a space to meet and share information about energy, has been improved and redesigned. Although it is mainly aimed at teachers and students in primary, secondary, and vocational training school, it is also of interest for anyone else who would like to learn more or With the work carried out this year, the new version of Aprendenergía is segmented according to target audience age groups, its contents have been extended with new concepts and activities, and the site's teaching methodology and usability for different audiences has been adapted. GRANADA ALMERÍA GERONA 070 EDUCATION AND TRAINING SCIENCE AND ENERGY dissemination Scientific workshops With several initiatives, Fundación Repsol aims to introduce the science and technology being developed in the different Repsol industrial complexes to children and young adults as well as encourage students to research and innovate. Scientific Workshops encourage teamwork, skills in innovation, and creativity. Outside the school environment, the fun science workshops offer the chance to develop scientific skills with a fundamentally practical methodology, with the goal of teaching young people about the world of chemicals, the industry, and the applications and uses of oil and its derivatives which are produced in industrial complexes. This dynamic and interactive programme is made to encourage interest in science starting at a very young age, to encourage the importance of teamwork, and to awaken curiosity, creativity, and the ability to innovate. In 2014 a total of 197 workshops were held at the Industrial Complexes and at the Repsol Campus, with a total participation of 4,399 students from area schools. The workshop carried out this year was called Playing with Polymers and was aimed at sixth grade students. At the Petronor Complex in Bilbao, however, the Reactions in Action workshop for high school students was carried out. Furthermore, an Aprendenergía scavenger hunt took place in Puertollano. Educational Visit Programme The educational project APQUA (Learning About Chemical Products, their Uses and Applications) was developed by Rovira i Virgili University in Tarragona to raise awareness, knowledge, and understanding of chemical products and their interactions with people and the environment. Within the framework of this project, the Educational Visit Programme was carried out in the Puertollano Industrial Complex from November 2014 to January 2015. Scientific workshops A Coruña Pedro Salinas Secondary School Pedro Salinas Secondary School Muskiz A Coruña Cartagena Carrying out this project allowed for the curricular content of primary and secondary schools to include aspects related to the industrial context. It also taught young people about job opportunities at the company, promoted their interest and motivation for science and technology, and encouraged cooperation and understanding between schools and the company. Fifteen educational visits took place in which 521 secondary school students, vocational training students, associations, and residents of Puertollano had the opportunity to learn about some of the operations carried out at the Industrial Complex. SCIENTIFIC - EDUCATIONAL WORKSHOPS PUERTOLLANO WORKSHOPS 27 workshops 27 scavenger hunts ATTENDEES 546 54 PETRONOR A CORUÑA CARTAGENA REPSOL CAMPUS TOTAL 18 60 30 35 197 540 1,680 800 833 4,399 072 EDUCATION and training ENCOURAGING RESEARCH ENCOURAGING RESEARCH In the 2013-2014 academic year 10 seminars took place with a total of 77 class hours in which 19 professors participated and 44 students attended. As a complement to these seminars, students visited the Natural Gas Control Centre to see the facilities and find out about the operation of the gas storage and distribution system. Fundación Repsol supports research by collaborating with different academic institutions. Chairs Higher Technical School of Mining Engineers of the Technical University of Madrid Through the Repsol Chair of the Higher Technical School of Mine Engineering of the Technical University of Madrid (ETSIM-UPM), Fundación Repsol annually awards scholarships to senior theses that enter R&D+i. With this collaboration, Fundación Repsol contributes to training specialists in subjects relating to the energy sector from a professional perspective and with a vision that complements the education received at the school. One of the goals of this Chair is to provide a complement to the teaching of students in their last years, to facilitate their access to the working world of the energy and hydrocarbon industry in competitive conditions. This is achieved through seminars on the oil and natural gas industry as well as conferences organised by renowned specialists in the energy sector. Continuing with the organisation of special events on current technical topics, the symposium Energy Efficiency, a New Type of Energy took place on 29 May 2014 with over 100 people in attendance from companies within the energy sector, universities, the government, and the public and private sectors. Higher Technical School of Industrial Engineers of the Technical University of Madrid Within the framework of the Repsol Chair implemented in the Higher Technical School of Industrial Engineers of the Technical University of Madrid (ETSII-UPM), Fundación Repsol annually awards scholarships to senior theses that enter R&D+i. With this collaboration, Fundación Repsol contributes to promoting research, assisting in the completion of graduate level training, and supporting activities supplementary to teaching. In the 2013-2014 academic year four of these scholarships were awarded to senior theses and in the 2014-2015 academic year, five scholarships were awarded to projects currently being developed. School of Industrial Engineers of the Technical University of Madrid Graduation ceremony Industrial Engineering Chair Repsol Classroom - University of A Coruña In the first quarter of the year, Fundación Repsol and the University of A Coruña created the Repsol Classroom in order to promote collaboration for cultural, scientific, and technological development and to share experiences in teaching, research, and culture in general. This allows for the practical application of knowledge which benefits all of society. The Classroom has two action lines: Dissemination and training, wherein collaborations will be coordinated with students who may include UDC students. It will also assist in the development of training plans for the A Coruña Refinery. Two scholarships for six months of training in the Repsol A Coruña Refinery were awarded. Transfer and research, which aims to identify potential research lines that may be of interest to the university and to Repsol. In the first quarter, the first Repsol UDC Workshop took place. This was an event for scientific dissemination and served as a meeting point between universities and companies in which more than 80 researchers and three Galician universities presented their most recent projects in innovation to the most important companies in Galicia. There was also a session aimed at secondary schools and university students with 549 students and 23 teachers from 15 secondary schools. 074 EDUCATION and training ENCOURAGING RESEARCH Scholarships Vocational training scholarships As part of its commitment to meeting new educational demands, Fundación Repsol provides vocational training scholarships with the goal of promoting vocational training as an education option and fostering the integration into the workplace of young people residing in the areas of influence of Petronor and the Industrial Complexes, especially people with with different abilities and/or at risk of social exclusion. In the 2013-2014 academic year the first round of VT scholarships took place in Puertollano, with 16 scholarships issued, ten of which were given to students in advanced vocational training programmes and six to students in intermediate vocational training programmes. For the sixth consecutive year, Fundación Repsol and Petronor awarded 37 vocational training scholarships to students from the towns of Abanto-Zierbena, Muskiz, and Zierbena who are enrolled in vocational training courses in the technical specialities required by Petronor. A total of twenty-seven students from advanced vocational training programmes and ten students from intermediate vocational training received scholarships. In the context of the A Coruña Refinery, fifteen scholarships were awarded to vocational training students who live in A Coruña and Arteixo and are enrolled in courses in one these towns. In the context of the Cartagena and Tarragona Industrial Complexes, the first vocational training scholarships were awarded in the 2014-2015 academic year.As in all editions the programme reserves 5% of scholarships for students with disabilities. University scholarships As a response to certain social needs as regards education, Fundación Repsol promotes university access for secondary school students who have a good record and are motivated, facing financial, social or personal difficulties to access higher education. These efforts include the scholarship programmes implemented by Fundación Repsol with the collaboration of the social councils of the Rovira i Virgili University in Tarragona, the Technical University of Cartagena, and the University of Castilla-La Mancha. At the Rovira i Virgili University (URV) in Tarragona, sixteen scholarships were awarded for the 2013-2014 academic year, out of which eleven students renewed their scholarship from the previous year and five were new students. In the third edition of the programme at the Technical University of Cartagena two scholarships were awarded and the one awarded the previous year was renewed. It should be noted that a collaboration agreement was signed with the University of Castilla-La Mancha to implement a programme for students with disabilities in the 2014-2015 academic year which willaward four scholarships. For the 2014-2015 academic year, Fundación Repsol launched a scholarship programme for people with disabilities to study a Master’s degree in areas relating to hydrocarbon exploration and production. Courses and Seminars Energy innovation applied to VT Fundación Repsol implemented a pilot project to encourage and promote energy innovation among vocational training (VT) students. The first call occurred in October and took place in four VT centres in the Basque Country and one in the Region of Madrid. These centres were selected for this first experience as they are leaders in innovation. This initiative has the support of representative entities in VT and innovation such as Tknika, Madrid Emprende, and Repsol Corporate Learning Centre. Ramón Querol Course The Higher Technical School of Mine Engineering of the University of Oviedo and Fundación Repsol hosted the 17th Ramón Querol Course in Hydrocarbon Exploration and Production from 29 September to 7 October 2014. This course aims to share the characteristics of oil and natural gas fields as well as knowledge about exploration and production techniques. It was attended by forty-six students in their final years of the Mining Engineering and Industrial Engineering degrees at the Universities of Oviedo and León as well as recent graduates. Three ERASMUS students were also in the group. They came from the University of Ales (France), Amsterdam (the Netherlands), and Trieste (Italy). In 2015 the best projects presented by students from vocational training centres (VTC) will be supported. They must focus on innovation in energy efficiency, sustainability, responsible mobility, inclusion, breaking down barriers, and improving quality of life. With this edition, VTCs will also be valued as environments of industrial innovation and applied technology. The course, taught by two notable experts from the sector, included theoretical and practical sessions plus a visit to the Ayoluengo oil field. Course on unconventional resources In April 2014 the University of Oviedo and Fundación Repsol held the first Course on unconventional hydrocarbons in order to present a general overview of the increasing production of unconventional hydrocarbons. Theoretical and practical classes were carried out at the Technical School of Mine Engineering of the University of Oviedo and were taught by noted professionals from the oil industry and academia. The class was attended by a total of 54 students, which included students in their final years of the Mine Engineering programmes at the Universities of Oviedo, Madrid, and the Basque Country, as well as specialists from companies and entities dedicated to hydrocarbon exploration and production. 076 EDUCATION and training ENCOURAGING RESEARCH Awards and Contests In order to promote the spirit of research, creativity, and interest in science, especially among young people, Fundación Repsol supports awards and contests such as the San Viator Award and the Archimedes university contest. San Viator Awards Ceremony San Viator Awards for Research in the Sciences and the Humanities This national contest has the support of leading universities and the Ministry of Education and the Environment and offers professors the opportunity to give practical and experimental meaning to their educational work, thereby contributing to greater recognition and respect from the educational community toward scientific research. Young people awarded during the Archimedes University Contest In the 20th edition, 396 research projects from primary and secondary schools from all autonomous communities were submitted. A total of 1000 students and teachers participated. In 2014 it celebrated its 13th edition with participation from public universities and with the collaboration of the Spanish National Research Council (CSIC) and other public and private institutions related to research. From the 291 research projects received, twenty-five were selected from nine Spanish universities. Young Researchers Contest Within the framework of this contest, Fundación Repsol recognises the best research projects in entrepreneurship and innovation for any of the subjects in official secondary school and vocational training curriculum. This is an initiative from the Secretary General of Universities and from the Youth Institute whose main objective is to spark an interest in scientific research among young people between 15 and 21 years of age for work carried out during their secondary education or during vocational training. The 27th edition had a total of 546 participants from 15 autonomous communities with 40 being selected for research projects. Fundación Repsol gave out two special awards: the Sustainability Award and the Energy Efficiency Award. Archimedes Award Ceremony Archimedes University Contest This contest recognises the best scientific and technological research projects in renewable energy. Organised by the Ministry of Education, Culture, and Sports, its main goal is to provide public grants to encourage the combination of teaching and research at universities as well as to encourage young students to join the research environment. Fundación Repsol drives the spirit of research, creativity, and interest in science among young people. 078 EDUCATION and training VALUES EDUCATION VALUES EDUCATION Programme activities Values Education Fundación Repsol maintains its collaboration agreements with leading educational entities. Values Education with science Fundación Repsol and the Spanish National Library and its museum carried out the Values Education project E2 = Education + Energy in order to share and develop synergies within the scope of education and energy. Its educational objective is to encourage and develop solidarity, responsible attitudes and a willingness to make commitments to society and the environment. The project was articulated with the values of Fundación Repsol and the Library's documentary heritage. The programme and the activities were organised around the five values of Fundación Repsol with in-person and virtual activities on different subjects and with different formats. They were aimed at primary and secondary school students. Activities for the public were also carried out. Notable activities included the Trece veces cautivo, diecisiete vendido exhibit, carried out in collaboration with the Portuguese Embassy and Instituto Camoes, and the New Energy for Education event which took place in December at the Spanish National Library with over 180 attendees. This event was aimed at teachers, museum educators, teaching professionals, and the public in general and aimed to reflect on the changes and challenges facing the education system and how values education may be a tool to take on new educational approaches. Under the framework of this programme a total of 140 activities took place between April and December with 3,066 people attending. 080 FINANCIAL INFORMATION AUDIT REPORT FINANCIAL INFORMATION Deloitte, S.L. Plaza Pablo Ruiz Picasso, 1 Torre Picasso 28020 Madrid Spain Tel.: +34 915 14 50 00 Fax: +34 915 14 51 80 www.deloitte.es This activity report includesas basic informative documents thebalance sheet and the P&L account of Fundación Repsol corresponding to the financial years endingon 31 December 2013 and 2014. The annual accounts have been audited by Deloitte, S. A.,whose report dated 3 June 2015 issues a clean opinion. Deloitte, S.L. Registered in the Trade Register of Madrid, volume 13650, section 8ª, sheet 188, page M-54414, entry 96. Spanish Tax ID: B-79104469. Registered office: Plaza Pablo Ruiz Picasso, 1, Torre Picasso, 28020, Madrid. 082 FINANCIAL INFORMATION BALANCE SHEET AND PROFIT AND LOSS ACCOUNT Balance sheet at 31 December 2014 Assets Profit and loss account corresponding to the financial year ending on 31 December 2014 Amount in euros 2014 financial year 2013 financial year A. Non-current assets Fixed assets Technical facilities and other fixed assets Assets under construction and expected Long-term financial investments Debt instruments Other financial assets 30,392,134.45 1,787,150.45 1,787,150.45 28,604,984.00 28,543,184.00 61,800.00 32,257,172.20 1,918,411.85 1,918,411.85 30,338,760.35 30,276,960.35 61,800.00 B. Current assets Users and other debtors of own activity Short-term financial investments Debt instruments Other financial assets Short term accruals Cash and other liquid assets 13,199,343.70 232.42 10,968,289.42 2,936,215.43 8,032,073.99 4553.83 2,226,268.03 12,741,226.69 3,464.49 12,548,964.59 8,743,449.38 3,805,515.21 148,368.99 40,428.62 Total assets (A+B) 43,591478.15 44,998,398.89 2014 financial year 2013 financial year 41,739,264.05 39,842,601.53 37,792,381.25 3,595,533.76 (160,650.00) (1,384,663.48) 1,896,662.52 1,896,662.52 42,612,961.88 41,227,265.01 37,792,381.25 3,707,476.68 (160,650.00) (111,942.92) 1,385,696.87 1,385,696.87 1,852,214.10 1,852,214.10 1,609,492.62 242,721.48 2,385437.01 2,385,437.01 2,188,433.96 197,003.05 43,591,478.15 44,998,398.89 Net Assets and Liabilities A. Net Assets A.1 Equity Endowment Surplus from previous financial years Other funds Financial year surplus A.2 Adjustments for changes in value Financial assets available for sale C. Current Liability Commercial creditors and other accounts payable Suppliers Creditors Total net assets and liabilities (A+C) Amount in euros 2014 financial year 2013 financial year 16,595,966.18 16,595,966.18 (14,580,035.27) (8,330,584.47) (6,249,450.80) 58,172.99 (3,123,412.06) (2,468,878.70) (654,533.36) (1,740,466.53) (131,261.40) 16,638,343.54 16,638,343.54 (14,014,527.08) (8 ,145,470.07) (5,869,057.01) 14,500.00 (2,730,692.17) (2,152,520.34) (578,171.83) (1,781,724.25) (131,261.50) (2,921,036.09) 1,582,421.61 1,582,421.61 (46,049.00) - (2,005,361.46) 1,764,462.37 1,764,462.37 (30,606.57) 159,562.74 159,127.74 435.00 1,536372.61 1,893,418.54 A.3. Surplus before taxes (1,384663.48) (111,942.92) A.4. Changes in net assets declared in the financial year surplus (1,384,663.48) (111,942.92) B. Revenue and expenses directly attributed to net assets 464,916.65 (124,054.32) B.1. Changes in net assets due to revenue and expenses recognised directly in net assets Financial assets available for sale 464,916.65 (124,054.32) C. Reclassifications to financial year surplus 46,049.00 30,606.57 C.1 Changes in net assets due to revenue and expenses recognised directly in financial year surplus Financial assets available for sale 46,049.00 30,606.57 D. Changes in net assets due to revenue and expenses attributed directly to net assets 510,965.65 (93,447.75) (873,697.83) (205,390.67) Income from own activity a) Donations and bequests attributed to the year’s surplus Aid and other expenses a) Monetary aid b) Collaborations and government expenses Other income from activity Staff Expenses a) Wages, salaries, and similar expenses B) Welfare expenses Other expenses from activity Fixed asset depreciation A.1. Financial year surplus Financial income a) Marketable securities and other financial instruments Change in fair value of financial instruments Impairment and gains from disposal of financial instruments a) Impairment and losses b) Gains from disposal of financial instruments and other income A.2. Surplus of financial operations I. Total result. Changes in net assets for the financial year TRANSPARENCY INNOVATION RESPONSABILITY TRANSPARENCY flexibility INTEGRITY www.fundacionrepsol.com