The Oil & Gas Decarbonization Charter (OGDC) is showing promising progress as the majority of its signatories are aligning with its ambitious targets. Launched at COP28, the OGDC aims for net zero operations by 2050, minimal methane emissions, and the elimination of flaring by 2030. With 54 oil and gas companies onboard, representing nearly half of global oil production, the Charter has set a solid foundation for emissions reduction efforts. The initiative has been bolstered by the establishment of a governance framework, a survey to capture emission reduction plans, and a Collaborate & Share program to foster collaboration among members. Notably, OGDC has welcomed three new members to further enhance its impact. The commitment of OGDC signatories goes beyond lip service, with a focus on investing in future energies like renewable sources, energy storage, and hydrogen. The OGDC Secretariat emphasizes the importance of collective efforts in shaping the industry's climate performance positively. Moving forward, OGDC aims to support signatories in their emission reduction strategies, net-zero roadmaps, and emissions reporting to track progress effectively. The initiative underscores the potential of collaborative action in driving meaningful climate impact on a global scale.