PARIS: Ten of the world´s leading oil and gas companies vowed Friday to help fight climate change, notably by shifting towards cleaner natural gas, but their promise was dismissed by Greenpeace as a public relations ploy. The initiative to limit climate-altering greenhouse gas emissions comes six weeks ahead of a
By our correspondents
October 18, 2015
PARIS: Ten of the world´s leading oil and gas companies vowed Friday to help fight climate change, notably by shifting towards cleaner natural gas, but their promise was dismissed by Greenpeace as a public relations ploy. The initiative to limit climate-altering greenhouse gas emissions comes six weeks ahead of a critical summit in Paris to negotiate a global climate rescue pact. "We are committed to playing our part," chief executives of the 10 companies in the Oil and Gas Climate Initiative said in a joint statement, adding that they "recognise" the goal of limiting the global average temperature rise to two degrees Celsius (3.6 Farenheit). The companies -- BG Group, BP, Eni, Pemex, Reliance, Industries, Repsol, Saudi Aramco, Shell, Statoil and Total -- account for nearly a fifth of the world´s oil and natural gas production. They said they had already reduced greenhouse gas emissions from their operations by 20 percent. The oil and gas groups foresaw a shift towards relatively clean natural gas, promising to contribute to "increasing the share of gas in the global energy mix" without giving details. They also outlined technical solutions including carbon capture and the elimination of "routine" flaring of natural gas, which oil groups have already promised to halt. Investment in gas, renewables and technologies such as carbon capture and storage systems, "will contribute greatly to reducing the cost and impact of climate change for future generations," they said.
