Oil and Gas Climate Initiative (OGCI)
The Oil and Gas Climate Initiative is a CEO-led consortium that aims to accelerate the industry response to climate change. OGCI member companies explicitly support the Paris Agreement and its goals.
As leaders in the industry, accounting for over 30% of global operated oil and gas production, we aim to leverage our collective strength and expand the pace and scope of our transitions to a low-carbon future, so helping to achieve net-zero emissions as early as possible.
Our members collectively invest around $7 billion each year in low carbon solutions. OGCI Climate Investments, our $1 billion-plus fund, invests in solutions to decarbonize sectors like oil and gas, industrials and commercial transport.
Editor's note: Updated June 25, 2020.
The Oil and Gas Climate Initiative, formed by 12 oil and gas majors, is now attracting more E&Ps and service companies.
Former BP chief and 8 Rivers Capital CEO share insight on decarbonization investments as well as problems and solutions to lowering emissions.
Under the leadership of Pratima Rangarajan, OGCI Climate Investments, the independently managed investment arm of CEO-led Oil and Gas Climate Initiative, has backed 80 pilot projects and invested in 29 companies during the past five years. The plan for the next five years? More investments, more innovation and more motivation than ever to limit global warming.
“The initiative is an all-in approach where we say that virtually all methane emissions from the industry can and should be avoided,” OGCI’s Julien Perez said of the coalition’s global goals at Hart Energy’s Carbon Management Conference on May 16.
The Oil and Gas Climate Initiative group, which accounts for around 30% of the world’s oil and gas production, is preparing to launch a second fund which is expected to be larger than the first one, sources say.
"We recognize that eliminating methane emissions from the upstream oil and gas industry represents one of the best short-term opportunities for contributing to climate change mitigation and for advancing the goals of the Paris agreement,” OGCI Chair Bob Dudley said in a statement.
Experts discuss how emissions factor into profitability in the era of energy transition and the need for standardization in how to measure them.
Accelerates deployment of Andium’s next generation IIoT Remote monitoring capabilities focused on reducing emissions across the oil and gas sector.
Policymakers and governments need to understand the challenges of the energy transition, former BP CEO Bob Dudley says.
A group of the world's top oil companies, comprised of 12 members including Saudi Aramco, China's CNPC and Exxon Mobil, have for the first time set goals to cut their greenhouse gas emissions as a proportion of output.
In hopes of avoiding a slowdown in momentum caused by the current downturn, OGCI Climate Investments launched a new program to finance oil and gas projects focused on methane reduction technologies.
The letter addresses concerns that the COVID-19 crisis may push oil and gas companies and governments around the world to delay action on climate change.