China News Service, Dubai, United Arab Emirates, December 2 (Reporter Pang Wuji) The United Arab Emirates, the presidency of the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), and Saudi Arabia announced on the 2nd that 50 oil and gas companies around the world have joined the "Oil and Gas Decarbonization Charter", which aims to accelerate climate action in the oil and gas industry.
The oil and gas companies that signed the charter account for more than 40% of the world's oil production, of which the national oil company (an oil company controlled by the state**) accounts for more than 60% of the signatories. It is also the largest number of NOCs committed to decarbonization initiatives in history.
The charter stipulates that the oil and gas industry will achieve net-zero emissions, zero methane emissions by 2050, eliminate conventional flaring by 2030, and continue to work towards industry best practices in reducing emissions.
On the same day, COP28 President Sultan Jaber unveiled the Global Decarbonization Acceleration Plan (GDA) at the World Climate Action Summit. The plan focuses on three key pillars: rapidly scaling up the energy system of the future, decarbonizing today's energy system, and action against methane and other non-CO2 greenhouse gases. Encouraging oil and gas companies to join the Oil and Gas Decarbonization Charter is part of this plan.
On the same day, 116 countries signed the Global Renewable Energy and Energy Efficiency Pledge, agreeing to triple the global installed capacity of renewable energy generation by 2030 and double the average annual rate of global energy efficiency improvement. (ENDS).