Decarbonizing the global oil and gas sector at speed and scale
Empowering collaborative action
Convening oil and gas companies across the world, representing both the Global North and South, creates a unique opportunity for collaboration.
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Accelerating actions and multiplying impact for change through knowledge sharing and collective work.
One of the historic outcomes from the COP28 action agenda, the Oil & Gas Decarbonization Charter (OGDC) is a unique collaboration to accelerate the decarbonization of the global oil and gas sector. By fostering industry cooperation and inclusivity, the OGDC will aim to play a critical role in delivering results in the energy transition. Ultimately, these aspirations are aimed to support efforts across sectors to reduce total GHG emissions, which are estimated to be between 54 and 58 Gt CO2 equivalent per year. Out of this amount, total emissions from all oil and gas operations globally are estimated to be 5 Gt CO2 equivalent per year*.
The OGDC is a key initiative under the Global Decarbonization Accelerator (GDA), which is a series of landmark initiatives designed to speed up the energy transition and drastically reduce global emissions.
*As per International Energy Agency and European Commission EDGAR (Emissions Database for Global Atmospheric Research)
What have signatories committed to doing?
Turning the collective ambition for change into action with impact, signatories support the principle and ambition for working towards achieving the aims of the Oil & Gas Decarbonization Charter:
Net-zero operations by 2050
Reach net-zero CO2eq emissions (Scope 1 and 2) for operations under their control and, as applicable, engage with joint operating partners towards net-zero CO2eq emissions (Scope 1 and 2), by or before 2050.
Continuous improvement and interim ambitions
By 2025, share publicly 2030 aspiration for Scope 1 and 2 emissions, and update such aspiration by 2028.
Near-zero upstream methane emissions by 2030
Implement actions and practices needed to achieve near-zero methane emissions by 2030 at upstream operations under their control and, as applicable, engage with joint operating partners to achieve near-zero methane emissions.
Zero routine flaring by 2030
Implement the actions and practices needed to eliminate routine flaring at all operations under their control, and use their influence to achieve the same in their non-operated portfolio.
Transparency
Facilitate cooperation and transparency amongst the sector and commit to annually publish emissions performance through OGDC platform.
Measuring and reporting progress
Measure, monitor, publicly report and independently verify GHG emissions and progress in reducing emissions, and to support continuous improvement in data quality, in accordance with internationally recognized frameworks.
Contributing to the energy transition
Invest in the energy system of the future, such as renewables, low carbon fuels, carbon capture and sequestration (CCS), low carbon hydrogen, etc. to contribute to achieving a net-zero economy.
Cooperation and collaboration
Facilitate cooperation between the sector and advocates; influence and share oil and gas decarbonization best practices related to ambition setting and transition planning.
Partner with other sectors and customers
Engage with customers, policy makers, partners, other energy intensive industries, technology and service providers and the financial sector to help accelerate the transition to a net-zero society.
Implementing best practices
Aspire to implement current best practices by 2030 to reduce global average emissions intensity of the oil and gas industry.
Charter signatories
Global challenges need global solutions. We recognize that oil and gas producers currently have varied emissions intensities within their operations. We will aspire to implement current best practices by 2030 to collectively reduce the global average emissions intensity of the oil and gas industry.
How is the OGDC organized?
Dr. Sultan Al Jaber, Amin H. Nasser and Patrick Pouyanné, the chief executives of charter signatory companies, ADNOC, Aramco and TotalEnergies respectively, will act as champions of the OGDC, leading it for the next three years.
It is a voluntary position, held by chief executives of OGDC signatory companies. The role is not remunerated.
Champions
Dr. Sultan Ahmed Al Jaber
COP28 President, UAE Special Envoy for Climate Change, UAE Minister of Industry and Advanced Technology & Group CEO of ADNOC
Amin H. Nasser
President & CEO, Aramco
Patrick Pouyanné
Chairman & CEO, TotalEnergies
A committee of up to 12 signatories will be established, with a rotating membership to allow all signatories to contribute. OGDC’s operations have been transferred from the COP28 team to the Oil and Gas Climate Initiative (OGCI) for an initial period of three years. A separate team within OGCI will work with the signatories, the energy industry and civil society organizations to support the charter and its signatories. None of the roles are remunerated. OGCI was asked by the Office of Special Envoy on Climate Change to support the implementation of the OGDC.
What we do
The Oil & Gas Decarbonization Charter (OGDC) aims to be an inclusive platform to support the signatories in achieving the goals of the charter. Building on the experience of the Oil and Gas Climate Initiative (OGCI) and others, the platform will accelerate knowledge dissemination and foster collaboration with peers and partners to catalyze scalable actions that maximize impact. With its broad geographical reach, notably toward producing nations in the Global North and South, the OGDC has the potential to deliver concrete outcomes in support of the world’s move to a net-zero greenhouse gas emissions future.