The Big Oil Company Climate Announcement, And The Many, Many Things It Lacks

Major fossil fuel companies have today released a Joint Collaborative Declaration under the Oil & Gas Climate Initiative (OGCI) recognising the need to limit global average temperature rise to 2⁰C. Launched in Paris this morning, they are calling for an “effective climate change agreement at COP21”.

In the declaration, ten oil and gas giants call for “widespread and effective pricing of carbon emissions”. Signatories include the CEOs of Total, Statoil, BP, Shell, BG Group, Saudi Aramco, Pemex, Sinopec, Eni, Reliance, and Repsol.

EDIT

(2/7) Missing: Commitment to works towards effective carbon pricing both globally & at national level http://tinyurl.com/ptz22tx #OGCI
3:36 AM - 16 Oct 2015

(3/7) Missing: #OGCI Declaration puts onus on Governments to 1st create policy framework but lacks commitment to consistently lobby for this
3:38 AM - 16 Oct 2015

(4/7) Missing: Commitment to stress test business models for future lower demand 2ºC consistent scenarios to avoid value destruction #OGCI
3:40 AM - 16 Oct 2015

(5/7) Missing: Commitment to 2ºC consistent #emissions #energytransition targets over the next 30 years to 2050 #OGCI
3:42 AM - 16 Oct 2015

(6/7) Missing: Concrete commitment to bring all #naturalgas #fugitive #emissions across full supply chain below 1% #OGCI
3:46 AM - 16 Oct 2015

(7/7) Missing: Concrete & quantitative commitment to increase R&D spending on #cleanenergy & #renewableenergy #OGCI
3:48 AM - 16 Oct 2015

EDIT

http://www.desmog.uk/2015/10/16/six-commitments-missing-oil-and-gas-major-s-climate-declaration