Prime Highlights

• TotalEnergies commits $100 million to support climate technology and emissions reduction in the oil and gas sector.
• The initiative encourages collaboration across the industry, sharing innovations to help all operators reduce emissions faster.

Key Facts

• The OGDC now has 55 members from over 100 countries, representing around 40% of global oil production.
• In 2024, OGDC members’ total emissions were estimated at one billion tonnes of CO₂, with 42 members setting interim reduction targets for 2030.

Background:

French oil giant TotalEnergies has announced a $100 million (€86.19 million) investment in climate technology at the UN Climate Change Conference (COP30) in Belém, Brazil. The funding will support Climate Investment’s (CI) Venture Strategy fund, which focuses on technologies designed to reduce emissions across the oil and gas sector.

Climate Investment, launched by the Oil and Gas Climate Initiative (OGCI) in 2015, has partnered with the Oil and Gas Decarbonisation Charter (OGDC) to accelerate efforts toward sustainable operations. To date, CI has invested in 46 early and growth-stage companies working on methane abatement, carbon capture, and energy efficiency, delivering an estimated 133 million tonnes of greenhouse gas reductions since 2019.

TotalEnergies, a founding member of the OGDC, is contributing to the collective effort by sharing its AUSEA methane detection technology with national oil companies. Patrick Pouyanné, Chairman and CEO of TotalEnergies, said: “Through this commitment, we scale proven solutions for the benefit of the OGDC community. Innovation in decarbonisation must be a shared journey, and we will move faster together.”

At COP30, the OGDC also released its 2025 Status Report, showcasing progress since its launch at COP28. The Charter now has 55 members from over 100 countries, representing around 40% of global oil production. Most members are state-owned, with many in emerging economies.

For the first time, OGDC companies reported their emissions using a common system, making the data easier to compare. In 2024, total emissions were about one billion tonnes of CO₂.

Also, 42 members, covering most of the production, have set targets to reduce emissions by 2030, and 36 of them have detailed plans to achieve this.

Sultan Ahmed Al Jaber, OGDC CEO, emphasized the coalition’s achievements: “We are turning the Charter’s words into action by delivering tangible progress, scaling innovation, and reporting transparently against our shared commitments.”