OGCI contributes to UNFCC's Global Stocktake

The Oil and Gas Climate Initiation (OGCI) announced last week it would contribute to the United Nations Framework Convention on Climate Change’s (UNFCC) first-ever Global Stocktake, designed to enable countries and other stakeholders to assess their collective progress towards reaching Paris Agreement goals.

"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," the initiative said. "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."

OGCI's members, which include 12 of the world's largest oil and gas companies, are also targeting near-zero methane emissions from their operated assets by the end of the decade.