Official Launch Of The Oil And Gas Decarbonization Charter:
COP28 President Dr. Sultan Al Jaber and the Kingdom of Saudi Arabia announced the official launch of the Oil and Gas Decarbonization Charter (OGDC).
- Oil and Gas Decarbonization Charter is a dedicated initiative for the oil and gas sector.
- It aims to induce substantial impact in addressing climate challenges.
- Currently, 50 companies, collectively responsible for over 40 percent of global oil production, have committed to the OGDC.
- National Oil Companies have shown historic participation, constituting over 60 percent of the total signatories, marking a noteworthy shift towards decarbonization within this sector.
- It is integral to the Global Decarbonization Accelerator (GDA).
Global Decarbonization Accelerator:
- It was introduced at the World Climate Action Summit.
- The GDA focuses on three primary pillars:
- Scaling the energy system of the future.
- Decarbonizing the present energy system.
- addressing methane and other non-CO2 greenhouse gases.