Insight
Is the oil and gas decarbonisation charter a big deal?
Report summary
The Oil and Gas Decarbonisation Charter (OGDC) – a commitment to net-zero oil and gas operations by 2050, elimination of routine flaring and near-zero methane emissions – was launched at COP 28. It is a voluntary charter and the 50 OGDC signatories comprise NOCs, Majors and Independents producing 40% of the world’s oil. This sounds like a lot, and any emissions reduction agreement is positive. But the OGDC accounts for only 30% of the upstream sector’s Scope 1 and 2 emissions so how effective will it be?
Table of contents
- Executive Summary
Tables and charts
This report includes 1 images and tables including:
- 2023 upstream Scope 1 and 2 emissions intensity
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