Ceres principles risk eradicating progress on net-zero norms

June 27, 2023By David TongBriefings, Global Industry, Industry Updates, Research & Opinions

US non-profit Ceres has produced a paper aimed at explaining actions that oil and gas exploration and production companies (E&Ps) can take to reduce their emissions. It is also supposed to provide useful information on climate alignment to the sector’s investors and bankers.

The paper suffers from a number of alarming weaknesses which threaten to reverse progress on setting standards for net-zero finance. Consequently, Reclaim Finance, Oil Change International, urgewald, CIEL, and Stand.Earth have jointly published this analysis in response.

Big Oil Reality Check 2023 — An Assessment of TotalEnergies, Eni, and Equinor’s Climate Plans

May 25, 2023By Oil Change InternationalBriefings, Featured, News

These briefings reveal that Total, Eni, and Equinor are on the cusp of approving a surge of new oil and gas development. If they proceed with all the projects in their anticipated pipeline for 2023, Eni could rank as the world’s third worst oil and gas expander this year and Equinor as the world’s eighth worst by the total volume of new reserves approved for extraction.