Climate Change And The Oil & Gas Sector: More Risks Than Opportunities?

Preparations for the United Nations Climate Change Conference known as COP21 to be held in Paris in December are intensifying.

Under the auspices of the Oil and Gas Climate Initiative (OGCI) set up in September 2014, the CEOs of 10 of the world’s largest oil and gas companies, including Saudi Aramco, last week issued a statement in which they committed to play their part to reduce greenhouse gas (GHG) emissions and reach the world’s long-term goal of limiting global average temperature increases to less than 2°C, compared with pre-industrial average (MEES, 9 October).

They say that they want a climate change agreement that will support them in tackling climate change issues and address energy demand growth in the medium to long-term.


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