Following the announcement in February 2020 of its ambition to reach net zero by 2050 or sooner, bp has set out its strategy for the next decade.
This is a further step in support of the Paris Agreement by the companies leading the oil and gas industry response to climate change
OGCI member companies have set a short-term target to reduce the carbon intensity of their aggregated upstream oil and gas operations by 2025. This requires all member companies – including those with lower carbon intensity levels – to put initiatives in place now and over the next five years to reduce carbon dioxide and methane emissions in the short term.
Brazil’s Petrobras has released its second climate supplement, outlining its climate commitments and explicitly supporting the Task Force on Climate-Related Financial Disclosures (TCFD).
China’s largest oil and gas producer, CNPC, has announced a new target to reduce methane emission intensity by 50% between 2019 and 2025. The OGCI member company is aiming to move to the forefront of methane emissions management.
The unprecedented challenges the world is facing force us all to sharpen our focus on what really matters. Our immediate priority, as CEOs, is to do everything we can so that our people and communities are safe and capable of confronting the pandemic effectively. We will work to help the world recover from the economic shock of this crisis that has undoubtedly hit some more than others yet impacts us all.
Collective action is central to OGCI’s mission to accelerate the transition to a net zero future. The idea that we can achieve far more by working together towards a common goal has taken on a new dimension
OGCI member company Total announced its ambition to get to net-zero emissions by 2050 together with society for its global business across its production and energy products used by its customers.
Bringing about the energy transition needs to make “economic sense” and be socially and environmentally sustainable, according to Shell’s chief technology officer.
Eni sets a target to cut greenhouse gas emissions from its production and the products it sells by 80% by 2050
Italian energy company Eni pledged on Friday to reduce its oil production from 2025 and slash its greenhouse gas emissions by 80% and in one of the most ambitious clean-up drives in an industry under pressure from investors to go green.