Insight
The Net Zero Standard – key takeaways for oil and gas companies
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Report summary
The Institutional Investors Group on Climate Change (IIGCC) has published a net zero standard for oil and gas companies (the Standard). Investors, advocacy groups and oil and gas companies have collaborated on the development of the framework. The central message is that companies need to go further to be Paris-aligned. The Standard could have big implications for the sector – another driver that helps fuel the decarbonisation domino effect.
Table of contents
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1. The net zero ambition has big strategic implications
- Global end use oil and gas demand in Wood Mackenzie’s 1.5 degree scenario
- 2. Offsetting emissions will come under scrutiny
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3. The emphasis on strategic divergence is positive
- Three broad energy transition business models have emerged
- 4. A detailed net zero financial framework will help build credibility
- 5. The drive for greater disclosure and standardisation is promising
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6. Investors will be a powerful force for more widespread adoption
- US Independents’ net zero Scope 1 and Scope 2 emission targets
- 7. Companies need to start acting now to mitigate carbon risk
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