Oil and Gas Decarbonization Charter (OGDC)

About the Oil and Gas Decarbonization Charter:

• It is a dedicated initiative for the oil and gas sector.
• It 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.
• National Oil Companies have shown historic participation, constituting over 60 percent of the total signatories, marking a noteworthy shift towards decarbonization within this sector.
• It is integral to the Global Decarbonization Accelerator (GDA).

Key facts about the Global Decarbonization Accelerator:

• It was introduced at the World Climate Action Summit.
• The GDA focuses on three primary pillars:
• Scaling the energy system of the future.
• Decarbonizing the present energy system.
• addressing methane and other non-CO2 greenhouse gases.
• This strategic plan aims for a comprehensive and simultaneous transformation of both energy demand and supply.