OGCI's Push for Decarbonisation: Uniting Energy Giants for a Low-Carbon Transport Future
Key Ideas
- OGCI, a coalition of energy giants, has made significant strides in reducing emissions in the transport sector, focusing on technologies like hydrogen and biofuels.
- Investments of almost $100 billion have been made in low-carbon technologies, showcasing a commitment to combatting climate change.
- Studies and collaborations undertaken by OGCI aim to shape policies and drive the adoption of low-carbon fuels, emphasizing the importance of decarbonising transport for a sustainable future.
The Oil and Gas Climate Initiative (OGCI), consisting of 12 major global energy companies, is intensifying its efforts to facilitate the decarbonisation of the transport sector, which is a significant source of CO₂ emissions worldwide. Over the past decade, OGCI has made substantial progress, including reducing methane emissions by half and cutting flaring by 45%. The coalition is now delving into technologies aimed at addressing the carbon footprint of transportation. Since 2017, OGCI members have collectively invested nearly $100 billion in low-carbon technologies like biofuels and carbon capture, underlining their dedication to effective climate solutions. In its latest endeavors, OGCI is exploring the potential of hydrogen and biofuels in decreasing CO₂ emissions from transport, showcasing the pivotal role that oil and gas companies can play in combatting climate change.
Recent studies have identified promising technologies that could revolutionize the sector's carbon footprint, with hydrogen emerging as a crucial solution for decarbonising specific segments of the industry, particularly heavy-duty transport. In the maritime domain, biofuels present a significant opportunity for emissions reduction. The Biomass for Marine 2025 study, conducted in collaboration with Argus Media, predicts a substantial rise in global biomass availability by 2050, with a considerable portion allocated to marine fuels, laying the groundwork for sustainable maritime transportation.
While the adoption of emerging energy technologies like hydrogen and biofuels is anticipated to progress steadily until 2030, a significant uptick is expected by 2040 as these solutions gain traction. Recognizing the importance of evaluating the impact of different policies and market dynamics on sector-specific decarbonisation paths, OGCI partnered with FEV Consulting to unveil the Net Zero 2050: Energy Demand Dynamics across the Transportation Sector report. This report furnishes practical insights for shaping regional policies and overcoming obstacles in the adoption of low-carbon fuels.
Amy Bason, deputy vice-president of strategy & policy at OGCI, emphasized the critical role of decarbonising transport in combating climate change, highlighting that low carbon fuels are pivotal in achieving this objective. Through the collaboration of leading energy companies and industry partners, OGCI is driving the development and implementation of scalable solutions that can drive significant progress towards a low-carbon future.
Topics
Aviation
Climate Change
Sustainability
Decarbonisation
Biofuels
Carbon Capture
Transportation Sector
Low-carbon Technologies
Energy Companies
Latest News