Oil & Gas Decarbonization Charter Sustains Momentum With Annual Report Launch

The Oil & Gas Decarbonization Charter (OGDC), a global coalition of leading energy companies championed by the CEOs of ADNOC, Aramco, and TotalEnergies and supported by the Oil and Gas Climate Initiative (OGCI), today released its 2025 Status Report: Implementing Action, highlighting accelerated progress and sustained momentum.

Two years after the launch at COP28, OGDC has become a unique action-oriented multilateral platform with the aim of accelerating progress toward decarbonization in oil and gas operations, a key sector in the global economy. The Charter now brings together 55 signatories operating across more than 100 countries, representing around 40% of global oil production. Two-thirds of signatories are state-owned companies, many from emerging economies.

This year, for the first time ever, the companies shared emissions data based on the OGCI Reporting Framework, laying the foundation for consistent reporting across 55 companies. Total operated Scope 1 and 2 emissions from OGDC signatories were estimated at around 1 billion tonnes of carbon dioxide equivalent (CO₂e) in 2024, with an upstream carbon intensity of 24 kilograms of CO₂ equivalent per barrel of oil equivalent.

The 2025 Status Report shows:

• Comprehensive coverage of leading companies: 50 of 55 signatories submitted data for this year’s report, covering 98% of OGDC operated production, most of which has received third-party assurance.
• Increased transparency: 35 companies provided previously unpublished performance data to the OGDC Secretariat. Three companies submitted data for the first time, two established company-wide baselines.
• Ambitions in action Covering 94% of OGDC production, 42 signatories have now set interim Scope 1 and 2 emissions reductions ambitions for 2030, and 36 have developed corresponding action plans. This reflects tangible progress since the Charter’s 2024 Baseline Report, with six more companies shared interim ambitions and seven more developed corresponding action plans on methane and flaring.
• Impetus for action: Extensive Collaborate & Share program underway, with a focus on methane, flaring and reporting has helped inspire progress.
• CEO engagement: 35 CEOs of companies who are signatories to OGDC reinforced their support of the Charter in a recent meeting earlier this month, ahead of COP30 and the launch of this shared report.

OGDC CEO Champions commented: