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Friday, 16 October 2015 18:00

Shared ambition for a 2°C future

The chief executive officers of 10 of the world’s largest oil and gas companies - which together provide almost a fifth of all oil and gas production and supply nearly 10% of the world’s energy - today declared their collective support for an effective climate change agreement to be reached at next month’s 21st session of the United Nations (UN) Conference of Parties to the UN Framework on Climate Change (COP21), Caspian Energy News (www.caspianenergy.net) reports with reference to the press service of Statoil.

In their milestone declaration, the CEOs of the 10 companies that currently make up the Oil and Gas Climate Initiative (OGCI) – BG Group, Eni, BP, Pemex, Reliance Industries, Repsol, Saudi Aramco, Shell, Statoil and Total – confirmed that they­ recognise the general ambition to limit global average temperature rise to 2 degrees centigrade and that the existing trend of the world’s net global greenhouse gas (GHG) emissions is not consistent with this ambition.

The OGCI member companies have taken significant actions to reduce their GHG footprint, with combined GHG emissions from their operations reducing by around 20% over the past 10 years.

“Our shared ambition is for a 2°C future. It is a challenge for the whole of society.  We are committed to playing our part. Over the coming years we will collectively strengthen our actions and investments to contribute to reducing the GHG intensity of the global energy mix. Our companies will collaborate in a number of areas, with the aim of going beyond the sum of our individual efforts,” says the joint declaration.

The OGCI is a CEO-led, voluntary, oil and gas industry initiative that aims to catalyze practical action on climate change through best practice sharing and collaboration.

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