• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 12 hours Evergrande is going Belly Up.
  • 4 hours U.S. Presidential Elections Status - Electoral Votes
  • 15 hours World’s Biggest Battery In California Overheats, Shuts Down
  • 4 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 6 hours Poland Expands LNG Powered Trucking and Fueling Stations
  • 2 days And now, hybrid electric locomotives...
  • 2 days Ozone layer destruction driving global warming
  • 2 days The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 1 day The coming Cyber Attack
  • 1 day Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 2 days 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers
  • 2 days The Painful Death of Coal
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Investors With $10 Trillion In Assets Will Issue Net-Zero Standards For Big Oil

Institutional investors responsible for $10.4 trillion worth of assets unveiled on Wednesday a net-zero standard that sets minimum expectations for what oil and gas companies must include in their plans to become net-zero businesses.

The Institutional Investors Group on Climate Change (IIGCC) published today the ‘Net Zero Standard for Oil and Gas’ initiative, which stresses the need for targets for absolute and intensity emission reduction, as well as aligning capital expenditure and production with a net-zero target.

The standard “acknowledges ‘winding-down’ as a legitimate strategy, as well as diversifying energy offerings or working through a company’s value chain to re-shape demand,” said the group of more than 20 leading global investors, which has engaged with most of the leading European oil firms to inform a set of expectations for the oil and gas industry.

“Following the publication of the standard, IIGCC and lead investors will now move forward with a pilot programme to trial implementation with a core group of leading oil and gas companies, including BP, Eni, Repsol, Shell and Total, and plan for wider roll out across the sector,” IIGCC said in a statement.

“We’re delighted to be part of this effort, which supports our aim to be recognised as an industry leader for the transparency of our reporting,” BP said.

BP, Eni, Repsol, Shell, TotalEnergies, and Equinor have all pledged over the past 18 months to become net-zero energy businesses.

Investors, however, need to “be able to meaningfully compare different company strategies whilst recognising that there is no one size fits all approach to reaching net zero,” said Adam Matthews, Chief Responsible Investment Officer at the Church of England Pensions Board, and Chair of the Net Zero Oil & Gas Standard Dialogue.

The Oil and Gas Sector Net Zero Standard is aimed at doing that.

“It will encourage the consistency of reporting that we need to make this comparison, and it also identifies the strategies that oil and gas companies might include in their net zero transition plans,” Matthews added.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Mamdouh Salameh on September 15 2021 said:
    Big Oil is capable of issuing its own emissions standards on its own and abiding with them without any busybody‘s interference.

    What could institutional investors teach the global oil industry about net-zero standards more than it already knows? It is better for those busybodies to leave it to the professionals.

    The most effective and rational way of battling climate change is exactly what the global oil industry is already doing, namely, reducing carbon emissions from fossil fuels and not their actual use and using the latest technologies to capture most of the emissions..

    Dr Mamdouh G Salameh
    International Oil Economist
    Visiting Professor of Energy Economics at ESCP Europe Business School, London
  • Bill Mal on September 15 2021 said:
    How much of the $10T will these big investors commit in enabling the targets they are posturing for? Or is the plan to lay it all onto the small investors while they can proclaim their environmental clarity and dictate policy that very well may bankrupt companies and economies.

    The investment group should commit $1T to carbon capture facilities along with reduction initiatives and show real commitment.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News