Frequently asked questions
What we do
The Oil & Gas Decarbonization Charter (OGDC) aims to be an inclusive platform to support the Signatories in achieving the goals of the Charter. Building on the experience of the Oil and Gas Climate Initiative (OGCI) and others, the platform will accelerate knowledge sharing and foster collaboration with peers and partners, driving scalable actions that maximize impact. With its broad geographical reach, targeting producing nations in the Global North and South, the OGDC has the potential to deliver tangible outcomes in support of the world’s move to a net-zero greenhouse gas emissions future.
Frequently asked questions
Climate change is a serious threat to people and the planet. It is a collective challenge that requires strong, focused action from producers and consumers of energy, fundamental changes across society and the energy sector, as well as international collaboration.
Recognizing the urgent need to support the world’s shift towards a net-zero greenhouse gas emission future, the Charter is intended to serve as an action-oriented platform to accelerate the decarbonization of the global oil and gas sector, both of its operational emissions (which account for approximately 10% of global GHG emissions) and its role to accelerate the decarbonization of the energy system.
The Charter aims to motivate oil and gas companies to decarbonize, achieving a broad geographical base and significant impact. It will help speed up action and encourage learning. The OGDC signatories recognize that action is essential, collaboration is needed, and no company or country should be left behind.
You can find out more about the OGDC’s commitments and goals here.
The Oil & Gas Decarbonization Charter’s operations were transferred by COP28 to the Oil and Gas Climate Initiative (OGCI) for an initial period of three years on a not-for-profit basis. A dedicated team within OGCI will work with the Signatories, the energy industry and civil society to support the Charter’s implementation.
As part of the Charter’s mission to act as a platform for sharing best practices, latest insights and experience and build capacity, a program of training and capacity building is being developed to support Signatories in their decarbonization efforts. Focus areas include introductions to climate change; GHG reporting; and methane and flaring emissions mitigation.
The OGDC is working with key partners such as the Methane Guiding Principles (MGP), Environmental Defense Fund (EDF), International Association of Oil & Gas Producers (IOGP), and Ipieca, among others, to help meet these goals.
Find out how we are bringing the Charter to life here.
The Charter is additive to other decarbonization efforts through its collaborative approach, and its inclusivity.
The platform aims to accelerate knowledge sharing and foster collaboration among peers and industry partners to achieve scalable action and collective impact. This approach complements ongoing decarbonization efforts of individual OGDC signatories.
Significantly, a considerable number of National Oil Companies (NOCs) have joined the OGDC. With NOCs accounting for more than half of global oil production and close to 60% of the world’s oil and gas resources, their public endorsement of an emissions reduction ambition is pivotal. Approximately two-thirds of the Charter’s signatories are NOCs, presenting an unprecedented opportunity to drive lasting change.
Signatories aim to measure, monitor, publicly report and independently verify GHG emissions, as well as their individual performance and progress in reducing their emissions. They will also strive to support continuous improvement in data quality, aligned in accordance with internationally recognized frameworks.
Ahead of COP29 in Baku, we aim to track progress of OGDC ambitions by developing an independently audited collective baseline of the OGDC Signatories. To support this ambition, training and resources will be made available to Signatories at no cost.
Signatories must be entities that produce oil and gas and must support the ambitions, mission and principles set out in the Charter. Companies interested in joining the initiative can reach out to contact@ogdc.org.
The Charter recognizes the need for a differentiated approach to the energy transition.
By joining the Charter, companies support its key principles and ambitions. However, we recognize that individual companies have different starting points, stakeholders and in some cases, national circumstances – all of which can influence the form and speed of their climate strategies. Consequently, the ambitions may need to be adjusted on a case-by-case basis to conform with their national context and circumstances.
The ambitions of individual companies are set on a voluntary basis. The Charter recognizes that action is essential, collaboration is needed and welcomes companies at any stage of their decarbonization journey.
The Oil and Gas Climate Initiative and Abu Dhabi National Oil Company (ADNOC) will cover the costs associated with the Oil & Gas Decarbonization Charter until March 1, 2027. From then on, the direct costs shall be funded equally amongst Signatories.
Signatories have the option to withdraw from the Charter at their discretion. Signatories and the OGDC decision-making bodies will collaborate closely to ensure that Signatories’ ambitions remain aligned with the OGDC’s missions and goals.
Current Signatories comprise of a mix of National Oil Companies (NOCs), independent producers and international companies. NOCs comprise around two-thirds of the Charter’s signatories, the largest number of NOCs to commit to any decarbonization initiative.
The full list of Charter Signatories can be found here.