Oil & Gas Climate Initiative - Climate Investments

The Oil and Gas Climate Initiative (OGCI) unites 12 leading oil and gas companies, such as Chevron, BP, ExxonMobil, and Shell, to tackle climate change. Since its inception in 2014, OGCI has committed over $65 billion to low-carbon technologies, including carbon capture, utilization, and storage (CCUS), renewables, and biofuels​. OGCI’s strategy targets reducing greenhouse gas emissions through innovative solutions. Notable initiatives include a 45% reduction in methane emissions and the development of low-carbon fuels for sectors like shipping and aviation. The CCUS KickStarter aims to double global carbon dioxide storage by 2030 with projects in the US, UK, Norway, the Netherlands, and China. OGCI Climate Investments, their $1 billion venture fund, supports clean tech companies and has expanded to 15 portfolio companies. This fund complements OGCI’s advocacy for policies that attribute a value to carbon, promoting widespread adoption of low-carbon technologies​. Leadership includes CEOs from member companies and executives like Bob Dudley, Chair of OGCI, and Bjørn Otto Sverdrup, Chair of the OGCI Executive Committee​. Together, they drive global efforts to achieve net zero emissions.