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ExxonMobil, Chevron and Occidental Petroleum stepped up to join the Oil and Gas Climate Initiative (OGCI).
“This is one of the strongest signs yet of how America’s biggest oil companies, are joining most other US Corporations to reduce greenhouse-gas emissions,” writes Amy Harder, with Axios, who broke the story.
The OGCI launched in 2014 with the aim to take action and reduce greenhouse gas emissions. The initial OGCI included Repsol, BP, ENO, Equinor, Shell, Total, Petrobras, Pemex, CNPC, and Saudi Aramco.
We first spoke about the work of the OGCI at HERWorld18: where you met its leader, Pratima Rangarajan.
OGCI members now represent around 30% of the oil and gas production and supply close to 20% of energy consumption. These companies represent regions in China, The Middle East, Latin America, Europe and now the United States. This represents action in the battle on lowering emissions and demonstrating widespread collaborative support of the Paris Agreement.
Each company commits $100 million dollars to the OGCI Climate Investments fund and will drive the work of programs and collective goals.
“Industry innovation and collaboration have a critical role to play in addressing climate change,” said Occidental President and CEO Vicki Hollub.
“We are the industry leader in this technology and welcome the opportunity to work with OGCI to contribute to this critical effort,” she said.
The OGCI will hold its annual meeting with stakeholders this week.