OGCI marks first submission to the Global Stocktake
March 23rd, 2023
LONDON, 23.03.22 – The Oil and Gas Climate Initiative (OGCI) is pleased to announce its contribution to the United Nations Framework Convention on Climate Change’s (UNFCC) first-ever Global Stocktake.
The Global Stocktake will enable countries and other stakeholders to see where they are collectively making progress towards meeting the goals of the Paris Agreement.
OGCI is glad to support its efforts to chart a better course for the future as we aim to achieve net zero greenhouse gas emissions (or carbon neutrality) from operations under member companies’ control by mid-century. At the same time, member companies are leveraging their influence to achieve the same in non-operated assets, within the timeframe set by the Paris Agreement.
We are also working towards near zero methane emissions from operated oil and gas assets by 2030.
OGCI aims to be a catalyst for change in the oil and gas industry by accelerating climate action. Our 12 member companies work together to explore solutions, agree on collective targets and goals, and share knowledge on how best to measure and tackle key emission sources – energy used in production, flaring, methane leaks and methane venting.
Supporting the world as it moves towards a net zero carbon emissions future will require international collaboration on the energy transition, as well as a reduction in greenhouse gas emissions from the oil and gas industry.
Take a look at how we aim to accelerate action to a net zero future in the full submission here: https://unfccc.int/documents/627365