The Oil and Gas Climate Initiative (OGCI), a group representing almost a third of global oil and gas production, has pledged to reduce emissions of methane by 20% by 2025. The group, which includes BP, Royal Dutch Shell and Total, has recently been joined by ExxonMobil, Chevron and Occidental. But the new report from Greenpeace says that while these companies have made some progress in reducing their emissions, they are still not on track to meet this goal. Separately, the group announced the creation of a $100m China-focused climate investment fund with China National Petroleum Corporation.
The Oil and Gas Climate Initiative (OGCI), a group representing almost a third of global oil and gas production, has pledged to reduce emissions of methane by 20% by 2025. The group, which includes BP, Royal Dutch Shell and Total, has recently been joined by ExxonMobil, Chevron and Occidental. The OGCI pledged to reduce methane emissions to an intensity of 0.25% of its total fossil fuel production, equivalent to a reduction of 350,000 tonnes of methane annually. Separately, the group announced the creation of a $100m China-focused climate investment fund with China National Petroleum Corporation.