
An assessment of transparency of the oil andgas industry’s emissions reduction efforts This report was prepared by the International Energy Agency (IEA), theUnited Nations Environment Programme (UNEP) and the EnvironmentalDefense Fund (EDF). INTERNATIONAL ENERGYAGENCY The IEA examines thefull spectrumof energy issuesincluding oil, gas andcoal supply anddemand, renewableenergy technologies,electricity markets,energy efficiency,access to energy,demand sidemanagement andmuch more. Throughits work, the IEAadvocates policies thatwill enhance thereliability, affordabilityand sustainability ofenergy in its32member countries,13associationcountries and beyond. LithuaniaLuxembourgMexicoNetherlandsNew ZealandNorwayPolandPortugalSlovak RepublicSpainSwedenSwitzerlandRepublic of TürkiyeUnited KingdomUnited States IEA membercountries: IEA associationcountries: AustraliaAustriaBelgiumCanadaCzech RepublicDenmarkEstoniaFinlandFranceGermanyGreeceHungaryIrelandItalyJapanKoreaLatvia ArgentinaBrazilChinaEgyptIndiaIndonesiaKenyaMoroccoSenegalSingaporeSouth AfricaThailandUkraine The EuropeanCommission alsoparticipates in thework of the IEA UNITED NATIONS ENVIRONMENTPROGRAMME UNEP is the leading global voice on the environment. It provides leadership and encouragespartnership in caring for the environment by inspiring, informing and enabling nations and peoplesto improve their quality of life without compromising that of future generations. UNEP'sInternational Methane Emissions Observatory exists to provide open, reliable, and actionable datato the individuals with the agency to reduce methane emissions. ENVIRONMENTAL DEFENSE FUND One of the world’s leading international nonprofit organizations, Environmental Defense Fundcreates transformational solutions to the most serious environmental problems. To do so, EDFlinks science, economics, law, and innovative private-sector partnerships. With more than 3 millionmembers and offices in the United States, China, Mexico, Indonesia and the European Union,EDF’s scientists, economists, attorneys and policy experts are working in 28 countries to turn oursolutions into action. This publication and any map included herein arewithout prejudice to the status of or sovereigntyover any territory, to the delimitation ofinternational frontiers and boundaries and to thename of any territory, city or area. Source: IEA.International Energy AgencyWebsite: www.iea.org Table of contents Executive summary.................................................................................................................. 4Introduction............................................................................................................................... 6Summary of results.................................................................................................................. 8OGDC signatories................................................................................................................. 10OGMP 2.0 members ............................................................................................................. 11NOCs, IOCs and independents ............................................................................................ 12Detailed review of results ...................................................................................................... 14Target setting metrics ........................................................................................................... 14Strategies for implementation metrics .................................................................................. 16Disclosure and reporting metrics .......................................................................................... 18Best performing metrics ........................................................................................................ 19Lowest performing metrics.................................................................................................... 20Opportunities for near-term action ........................................................................................ 21Cross-cutting areas............................................................................................................... 22Recommendations ................................................................................................................. 24Appendix I. Explanation of metrics and assessment criteria............................................ 26Abbreviations.......................................................................................................................... 31 Executive summary At COP28, more than 50 of the world’s leading oil and gas companies launchedthe Oil and Gas Decarbonization Charter (OGDC), laying out a series of ambitionsto achieve net zero operational emissions by 2050. As global methane and flaringemissions continue to rise, these ambitions are more important than ever toreduce energy waste a