Clear, factual reporting and strong data analysis foster advancement

Clear, factual reporting and strong data analysis foster advancement

The Oil & Gas Decarbonization Charter (OGDC) is leading a global charge to reduce methane emissions and decarbonize the oil and gas industry, aligning with the goals of the Paris Agreement. This initiative, comprising a collective of major companies, aims to accelerate emissions reductions, particularly focusing on methane and routine flaring.

### OGDC's Role and Contributions

The OGDC has set ambitious targets, such as reducing methane intensity to approximately 0.2% by 2030, with the ultimate goal of near-zero emissions in upstream operations worldwide. The Charter fosters a broad industry transition through sharing knowledge, technologies, and strategies for decarbonization, including carbon capture, utilization, and storage (CCUS), investment in renewables, and low-carbon solutions.

The Charter has catalysed significant emission reductions among its members, with some companies reporting methane emission decreases of over 50% and substantial cuts in routine flaring. It emphasizes industry-wide emissions reporting by encouraging transparency and standardized monitoring of greenhouse gases, which fosters accountability and enables benchmarking progress throughout the industry worldwide.

### Regional Impact and Collaboration

The OGDC's influence extends to regional contexts, such as in ASEAN countries, where major oil and gas companies like PETRONAS, Pertamina, and PTTEP have committed to its goals, helping cover significant portions of the region's emissions and advancing methane reduction through improved quantification, monitoring, and technological partnerships.

### Alignment with Global Climate Targets

By aligning with national and international climate targets, such as those under the Paris Agreement and various NDCs, the OGDC facilitates collaboration between companies, governments, and other stakeholders to ensure the oil and gas sector contributes effectively to global net-zero ambitions.

### Progress and Future Plans

Since 2017, the combined emissions from the organization's 12 member companies have reduced more than the combined total greenhouse gas emissions from Sweden, Denmark, and Norway. The OGDC's reporting and deadlines drive progress and encourage others to follow improvements in the oil and gas industry.

The OGDC's annual Progress Report includes independently reviewed aggregated emissions data, an industry first. Over the past decade, the organization's member companies have collectively achieved a 21% decrease in upstream carbon intensity. The new OGDC Reporting Framework will gather more data, make comparison easier, and improve overall data credibility and quality.

The OGDC's influence is not limited to the oil and gas sector. It shares best practices across industries to accelerate emissions reduction. The new Reporting Framework will also facilitate easier review and measurement of progress by third-party auditors. The organization's member companies have reduced upstream operated methane emissions and routine flaring by more than 50%.

The OGDC Baseline Report showed gaps and improvement opportunities in reporting, data, and target setting. In 2023, the organization began publishing its members' greenhouse gas emissions on an equity basis, in addition to data on operated emissions. The OGDC progress report will be presented at COP30 in Brazil.

In conclusion, the Oil & Gas Decarbonization Charter is a key driver for global oil and gas companies to systematically reduce methane emissions and decarbonize their operations through commitments to measurable targets, enhanced emissions reporting, and technology sharing. This has contributed to establishing industry-wide, transparent emissions tracking and promoting concerted efforts that align with the global climate goal of net zero by mid-century.

1. The Oil & Gas Decarbonization Charter (OGDC) aims to reduce methane emissions and decarbonize the oil and gas industry, aligning with the goals of the Paris Agreement.
2. The OGDC has set ambitious targets, such as reducing methane intensity to approximately 0.2% by 2030, and encourages transparency through emissions reporting.
3. The Charter fosters a broad industry transition by sharing knowledge, technologies, and strategies for decarbonization, including carbon capture, utilization, and storage (CCUS).
4. The OGDC's influence extends to regional contexts, such as ASEAN countries, where major oil and gas companies have committed to its goals, helping cover significant portions of the region's emissions.
5. By aligning with national and international climate targets, the OGDC facilitates collaboration between companies, governments, and other stakeholders to ensure the oil and gas sector contributes effectively to global net-zero ambitions.
6. Since 2017, the combined emissions from the organization's 12 member companies have reduced more than the combined total greenhouse gas emissions from Sweden, Denmark, and Norway, highlighting its significant effect on emissions reduction.
7. The OGDC's new Reporting Framework will gather more data, make comparison easier, and improve overall data credibility and quality, enabling easier review by third-party auditors.
8. The OGDC's annual Progress Report includes independently reviewed aggregated emissions data and has shown gaps and improvement opportunities in reporting, data, and target setting, with plans to publish members' greenhouse gas emissions on an equity basis.

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