The Oil and Gas Climate Initiative is a CEO-led organization bringing together 12 of the largest oil and gas companies worldwide to lead the industry’s response to climate change. It aims to accelerate action towards a net zero emissions future consistent with the Paris Agreement. OGCI members are Aramco, bp, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Shell and TotalEnergies.
Together, OGCI member companies represent about 30% of global oil and gas production.
OGCI members set up OGCI Climate Investments to create a US$1 billion-plus fund that invests in companies, technologies and projects that accelerate decarbonization within energy, industry, built environments and transportation.
How we work
The CEO Steering Committee is the highest-level decision-making body of OGCI. It is made up of the CEOs of each of the member companies. Accountabilities include:
- OGCI targets and other major public commitments
- 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. ExCom proposes and delivers on the strategy agreed by the CEO Steering Committee. This includes the annual work plan, overseeing the activities of OGCI workstreams and taskforces, proposing OGCI targets and other major public commitments and products. ExCom decisions require consensus.
Oil and Gas
Voluntary industry initiative
Set up in 2014
12 member companies
Specialist decarbonization investor
Investing since 2017
Independent entity and governance
Independently managed investments