Oil and gas bosses call for ‘effective’ climate deal

The CEOs of 10 global oil and gas companies have called for an “effective” climate change agreement at the COP21 conference in Paris. BG Group, BP, Eni, Pemex, Reliance Industries, Repsol, […]

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By Jacqueline Echevarria

The CEOs of 10 global oil and gas companies have called for an “effective” climate change agreement at the COP21 conference in Paris.

BG Group, BP, Eni, Pemex, Reliance Industries, Repsol, Saudi Aramco, Shell, Statoil and Total make up the Oil and Gas Climate Initiative (OGCI).

They recognise the ambition to limit global average temperature rise to 2°C and believe the existing trend of the world’s global greenhouse gas (GHG) emissions is not consistent with the goal.

The OGCI members said they have taken “significant” actions to reduce their GHG footprint, reducing emissions by around 20% in the past 10 years in total.

They have also launched a new report, which highlights practical actions taken by them to improve climate change impacts.

Some of the works are improving efficiency of their operations, increasing the share of gas in the global energy mix, and investing in R&D.

They also include developing projects to improve access to energy with local and national authorities and collaborations to seek opportunities to accelerate climate change solutions.

The 10 CEOs said: “Our shared ambition is for a 2°C future. It is a challenge for the whole of society. We are committed to playing our part. Over the coming years we will collectively strengthen our actions and investments to contribute to reducing the GHG intensity of the global energy mix. Our companies will collaborate in a number of areas, with the aim of going beyond the sum of our individual efforts.”