A catalyst for change

The Oil and Gas Climate Initiative is a CEO-led initiative that aims to accelerate the industry response to climate change. OGCI member companies explicitly support the Paris Agreement and its aims.

As leaders in the industry, accounting for almost 30% of global operated oil and gas production, we aim to leverage our collective strength and expand the pace and scope of our transitions to a low-carbon future, so helping to achieve net zero emissions as early as possible.

Our members collectively invest over $7B each year in low carbon solutions. OGCI Climate Investments was set up by members to catalyze low carbon ecosystems. This US$1B+ fund invests in technologies and projects that accelerate decarbonization in oil and gas, industry and commercial transport.

Our guiding principles and commitments

OGCI has a set of guiding principles to help member companies contribute towards achieving a low carbon future.

1

Support the Paris Agreement and its aims

2

Seek to reduce the methane and CO2 intensity of our operations towards net zero

3

Seek to be a catalyst for reducing emissions in our industry and the wider economy

4

Assess climate change risks and opportunities in our business planning

5

Publish accurate and consistent indicators and utilize third-party data review

6

Support government policies that consider a value for carbon, explicitly or implicitly

7

Support the implementation of regulations tackling methane emissions reduction

8

Engage responsibly with stakeholders

9

Foster candid and constructive dialogue with a broad range of stakeholders

OGCI member companies commit to:

By 2025, reduce the collective average methane intensity of aggregated upstream oil and gas operations to well below 0.20%, from a 2017 baseline of 0.30%.

Reduce member companies’ aggregate upstream carbon intensity from 23 kg of greenhouse gases per barrel of oil or gas in 2017 to 17 kg by 2025.

By 2030, help to decarbonize multiple industrial hubs and kickstart a commercial CCUS industry that can have a significant impact on greenhouse gas emissions.

Invest OGCI’s $1B+ fund over a ten-year period to deliver a tangible impact on greenhouse gas emissions through accelerated innovation across the energy and industrial sectors.

Support explicitly the aims of Zero Routine Flaring by 2030.

How we work

 

OGCI is a voluntary, industry-led initiative to deliver tangible, transparent and integrated contributions to climate change solutions. The central premise of OGCI is that member companies’ engagement and action on climate change becomes more powerful and impactful, when implemented as a collaborative effort.

We work collaboratively through focused workstreams and taskforces, as well as through OGCI Climate Investments. The strategic direction of OGCI is set by the CEO Steering Committee, made up of the CEOs of each of the member companies.

OGCI’s decision-making

The CEO Steering Committee is the highest-level decision-making body of OGCI. Accountabilities include:

  • OGCI targets and other major public commitments
  • Setting the strategic direction for OGCI Climate Investments
  • Approving major public products including OGCI reports, declarations, statements and press releases that contain public targets, commitments or policy support
  • Approving overall annual work plan and resources

All members have equal voting rights and OGCI endeavours to make decisions by consensus. Consensus is defined as agreement between all OGCI active members minus one.

The Executive Committee (Excom) is made up of representatives from each member company and is the second level of decision making. Excom proposes and delivers on the strategy agreed by the CEO Steering Committee. This includes proposing the annual work plan, overseeing the activities of OGCI workstreams and taskforces, proposing OGCI targets and other major public commitments and proposing major public products including OGCI reports, declarations, statements and press releases. Excom decisions require consensus.

OGCI Climate Investments LLP (CI) is a separate, incorporated entity owned by OGCI member companies. Decisions are made by the Climate Investments CEO or Board of Directors, as appropriate. The Climate Investments Board is separate and independent from Excom and is made up of one representative from each member company.

Our approach to advocacy

 

OGCI is at the forefront of climate action in the oil and gas sector. OGCI constructively engages and advocates with external stakeholders on the basis of positions agreed by consensus.

What is advocacy? Advocacy means activities in support of or opposition to issues, rather than specific pieces of legislation, at the local, state, national or international level. It also means helping policymakers find specific solutions to persistent climate change problems, or diverse education, training or stakeholder engagement on an issue in general.

Advocacy practices by and on behalf of OGCI are guided by the following principles:

1. Action led

Practical climate action by OGCI is the cornerstone of our advocacy activity.

2. Advocacy positions

OGCI may develop and agree policy and advocacy positions for consideration and use by OGCI and member companies when directly linked to OGCI agreed actions.

3. Robust approaches

OGCI’s positions should be prepared and agreed, ensuring thorough deliberation between member companies, a deep understanding of the issue and of relevant stakeholder interests.

4. Unity in message

OGCI’s positions are defined and agreed by consensus by the member companies, and are then applied consistently by OGCI.

5. Representation

Advocacy is appropriate, and staff representing OGCI and the member companies should talk about what OGCI is doing within the parameters of the positions agreed. Advocates should receive training and education on the agreed positions and how to present them.

Compliance statement

OGCI and its members are committed to act in accordance with all applicable domestic and international antitrust and competition laws, and to act in accordance with applicable domestic and international anti-corruption laws.