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02/12/23 | 6:06 pm

Global Initiative Launched to Accelerate Climate Action in Oil and Gas Sector

The OGDC, a dedicated initiative for the oil and gas sector, aims to induce substantial impact in addressing climate challenges. Currently, 50 companies, collectively responsible for over 40 percent of global oil production, have committed to the OGDC. Notably, National Oil Companies  have shown historic participation, constituting over 60 percent of the total signatories, marking a noteworthy shift towards decarbonization within this sector.

The OGDC is integral to the Global Decarbonization Accelerator (GDA), introduced at the World Climate Action Summit on December 2. The GDA focuses on three primary pillars: scaling the energy system of the future, decarbonizing the present energy system, and addressing methane and other non-CO2 greenhouse gases. This strategic plan aims for a comprehensive and simultaneous transformation of both energy demand and supply.

-Vinod Kumar (Dubai)

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