Investors with $ 10 trillion in assets set zero net standards for big oil OilPrice.com

Investors with $ 10.4 trillion worth of assets on Wednesday unveiled what the oil and gas companies need to include in their plans to become net zero businesses.

The Climate Change Institutional Investors Group (ECCC) today launched the ‘Net Zero Standard for Oil and Gas’ initiative, highlighting the importance of absolute and strong emissions targets, as well as aligning capital expenditure and production with net zero. Target.

He said the standard is “twisting” as a legal strategy, as well as working in the company’s value chain to duplicate energy supplies or reshape demand. ” To inform the oil and gas industry of the expectations of European oil companies.

Following the publication of the standard, the IIGCC and leading investors will continue to test and implement a comprehensive package with the leading oil and gas companies, including BP, Annie, Reposol, LL and Total. It has emerged in the sector, ”IIGCC said in a statement.

We are pleased to be part of this effort that supports our goal of being recognized as an industry leader for the transparency of our report, ”BP said. They said.

BP, Annie, Reposol, LL, Total Energy and Equinox have all pledged to become net zero energy businesses for the past 18 months.

Adam Mathews, chief investment officer at the UK Retirement Board, said: Net Zero Oil & Gas Regular Discussion.

The oil and gas sector Net Zero Standard aims to do just that.

“This comparison encourages consistent reporting and identifies strategies that oil and gas companies can include in their net zero transition plans,” Matthew said.

By Tsvetana Paraskova for Oilprice.com

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