This report by the Carbon Tracker Initiative critically evaluates the emissions targets of 30 leading oil and gas companies, assessing their alignment with the Paris Agreement. It introduces methane-specific reduction goals and ranks companies based on their performance in managing lifecycle emissions, achieving net-zero targets, and addressing methane emissions. Key findings include the lack of Paris-aligned targets across all companies, insufficient methane reduction goals, and questionable credibility of emissions reduction strategies. The report provides actionable insights for stakeholders, including policymakers, investors, and financial institutions, to better understand the climate and financial risks associated with these companies. It highlights the necessity of systemic changes in methane monitoring, reporting, and reduction strategies to align the energy sector with global climate goals. Companies assessed: BP
Chevron
ConocoPhillips
Eni
Equinor
ExxonMobil
Occidental Petroleum
Repsol
Shell
TotalEnergies
Saudi Aramco
Gazprom
Rosneft
PetroChina
Petrobras
Pemex
CNOOC
Sinopec
Lukoil
ONGC
PTT
Pertamina
Kuwait Petroleum Corporation
Abu Dhabi National Oil Company (ADNOC)
QatarEnergy
Sonatrach
National Iranian Oil Company (NIOC)
Petronas
Statoil
Marathon Oil
Authors
- Pages
- 41
- Published in
- United Kingdom
Table of Contents
- About Carbon Tracker 2
- About the Author 2
- Copyright Statement 2
- 1 Key Findings 1 3
- 2 Executive Summary 2 3
- 3 Introduction 5 3
- 4 Evaluating Emissions Targets 7 3
- 4.1 Company Emissions Targets 9 3
- 4.2 Relative Ranking of Company Targets 12 3
- 5 Credibility of Emissions Reduction Strategy 16 3
- 5.1 Credibility of GHG Emissions Reduction Strategy 16 3
- 5.2 Credibility of Methane Reduction Strategies 18 3
- 6 Recommended Actions for Stakeholders 21 3
- 6.1 Actions to Reduce Climate Impact 21 3
- 6.2 Actions to Mitigate Transition Risk 21 3
- Appendix 1 Emissions Targets by Company 22 3
- Appendix 2 Decoding Emissions Targets 37 3
- 1 Key Findings 4
- 2 Executive Summary 5
- 3 Introduction 8
- 4 Evaluating Emissions Targets 10
- 4.1 Company Emissions Targets 12
- 4.2 Relative Ranking of Company Targets 15
- 5 Credibility of Emissions Reduction Strategy 19
- 5.1 Credibility of GHG Emissions Reduction Strategy 19
- 5.2 Credibility of Methane Reduction Strategies 21
- 6 Recommended Actions for Stakeholders 24
- 6.1 Actions to Reduce Climate Impact 24
- 6.2 Actions to Mitigate Transition Risk 24
- Appendix 1 Emissions Targets by Company 25
- Appendix 2 Decoding Emissions Targets 40
- Disclaimer 41
