DUBAI (December 2, 2023) - Today, the Oil and Gas Decarbonization Charter was released. It calls on the oil and gas sector to achieve the goal of reaching net-zero emissions for their own operations by 2050. The charter also includes commitments to achieve near-zero methane emissions and no routine flaring by 2030.

Following is a statement from Melanie Robinson, Global Climate Program Director, World Resources Institute:

“This charter is proof that voluntary commitments from the oil and gas industry will never foster the level of ambition necessary to tackle the climate crisis. We can’t meet our climate goals unless governments set policies that rapidly and equitably transition our economy away from fossil fuels.

“The oil and gas companies that joined the charter committed to reach net-zero emissions by 2050, but this is only for their own operations. The pledge doesn’t cover a drop of the fuel they sell, which accounts for up to 95% of the oil and gas industry’s contribution to the climate crisis. Ignoring emissions from the fossil fuels that companies sell is like a cigarette maker claiming no responsibility for the impact of their product once it leaves the factory door.

“It is encouraging that some national oil companies have set methane reduction targets for the first time. However, most global oil and gas companies already have stringent requirements to cut methane emissions. Strong measures to verify progress are crucial to holding oil and gas companies accountable."