Insight
OGCI members set 2025 emissions intensity target
Report summary
On 15 July, the Oil and Gas Climate Imitative (OGCI) set a target to reduce the group’s overall Scope 1 and 2 emissions intensity from operated assets by 9% to 13% by 2025 compared to 2017 levels. Based on the existing portfolios of the members, we forecast the group average emissions intensity is likely to decline 6% by 2025, meaning more action will be needed to meet the target. Together with the individual corporate targets announced over the past six months, the new OGCI target is another positive step in demonstrating the commitment of oil and gas companies to climate change action. However, the path to a low-carbon future is long, and further, bolder steps will be needed to get there. This insight assesses the ambition of the target, including both how achievable it is based on existing portfolios and mitigation measures, and whether it goes far enough towards meeting Paris Agreement objectives.
Table of contents
- Executive summary
- The facts
-
Our take
- Is focusing on emissions intensity rather than absolute emissions the best approach?
- Emissions intensity is just for operated assets – is this enough?
- What about Scope 3?
- Where do LNG and GTL fit into the picture?
- What happens after 2025?
- How can OGCI members meet this target?
- Electrification:
- Reducing methane leakage:
- Eliminating routine flaring:
- Wood Mackenzie Emissions Benchmarking Tool
Tables and charts
This report includes 4 images and tables including:
- OGCI member emissions upstream intensity (2017-2025)
- OGCI member absolute emissions (2017-2025)
- Potential absolute emissions reductions by method
- Potential emissions intensity reduction compared to 2017
What's included
This report contains:
Other reports you may be interested in
01 September 2020
APAC Energy Buzz: Is PetroChina really going green?
Insight
APAC Energy Buzz: Is PetroChina really going green?
Asia’s largest oil and gas producer wants to be ‘near zero’ emissions by 2050. But don’t expect radical change just yet
$1,05005 December 2019
Repsol raises the bar on carbon
Insight
Repsol raises the bar on carbon
Repsol has leap-frogged the Majors in becoming the first O&G company to commit to achieving net-zero carbon from Scope 1, 2 and 3 emissions.
$1,35011 February 2019
Corporate week in brief: Great week for Majors – strong Q4 results and exploration successes
Insight
Corporate week in brief: Great week for Majors – strong Q4 results and exploration successes
Euro Majors post strong Q4 results; LNG projects progress; exploration success in Guyana and South Africa
$700
