Chapter 4:
Looking ahead
In its first year of operation, the OGDC has laid the groundwork to support signatories as they advance toward the goals outlined in the Charter, with the baselining survey setting the foundation for the collective work ahead.
In addition to setting up a governance framework and establishing a central repository of emissions reduction resources, the Charter has taken important first steps to encourage companies to share more data on climate ambitions and performance.
Since the launch in 2023, additional signatories have come on board, among them Oil India Limited, PetroChina and Vår Energi, and we invite others to join the Charter.
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OGDC is a crucial platform for driving the green and low-carbon development of the global oil and gas industry. PetroChina implements a green and low-carbon development strategy, setting forth a three-step plan of ‘clean substitution, strategic succession, and green transformation’.
While ensuring energy supply, we actively develop new energy businesses such as geothermal, wind and photovoltaic power generation and hydrogen energy, and vigorously promote the construction and industrial development of CCUS demonstration projects.
As a signatory to the OGDC, we will actively promote green and low-carbon practices, contributing the wisdom and strength of PetroChina to the global transition towards a green and low-carbon future.”
Weidong Du
Deputy General Manager of the Quality Health Safety Environmental Protection (QHSE) Department of PetroChina
In the year to come, the OGDC will focus on providing the resources and guidance signatories needed to make concrete progress toward reducing methane, flaring and carbon dioxide emissions – all of which have the potential to cut global greenhouse gas significantly.
As part of its drive to improve data quality and reporting, the OGDC will work with those signatories that have yet been able to set and publicly share their 2030 Scope 1 & 2 CO2e emissions to enable them to do so.
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Action on climate change requires impactful collaborations. PETRONAS is committed to working closely with our partners to help achieve the aims of the OGDC as we collectively navigate the energy transition and undertake our own journeys to achieving near-zero methane emissions by 2030 and net-zero carbon emissions by 2050.”
Charlotte Wolff-Bye
Group Chief Sustainability Officer at PETRONAS
The OGDC will support action to turn its ambitions in progress. We will aim to share some tangible examples from our progress at COP30, set to take place in Brazil in November 2025.
The Oil and Gas Decarbonization Charter has set out an ambitious direction of travel for its signatories and for the industry at large: one that has the potential to deliver positive climate impact on a global scale. It has united an unparalleled number of oil and gas companies, ranging from small independents to large state-owned enterprises, from North to South, and East to West, across the globe.
Important work lies ahead of us.
WEF (2024)