{"id":28480,"date":"2023-04-13T08:00:28","date_gmt":"2023-04-13T06:00:28","guid":{"rendered":"https:\/\/reclaimfinance.org\/site\/?page_id=28480"},"modified":"2025-09-01T17:19:29","modified_gmt":"2025-09-01T15:19:29","slug":"assessment-of-oil-and-gas-companies-climate-strategy","status":"publish","type":"page","link":"https:\/\/reclaimfinance.org\/site\/en\/assessment-of-oil-and-gas-companies-climate-strategy\/","title":{"rendered":"Assessment of oil and gas companies’ climate strategy"},"content":{"rendered":"

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Assessment of oil and gas <\/span><\/p>\n

companies’ climate strategy<\/span><\/p><\/h1><\/span>

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12 of the largest publicly listed integrated oil and gas companies in Europe and the United States, along with national oil and gas companies (NOC), accounted for a huge 28% of global production in 2023, 40% of near-term exploration and production expansion plans, and 18% of liquefaction terminal expansion plans.<\/strong><\/p>\n

These companies bear a major responsibility for the climate change that is already affecting entire economies and millions of people. Winding down their fossil fuel activities\u2014including rapidly halting expansion strategies and gradually dismantling existing facilities\u2014directly determines our ability to limit global warming to as close to 1.5\u00b0C as possible.<\/strong><\/p>\n

But is such a transformation possible, or is it just an illusion, given that most have recently backtracked on their climate commitments, announcing an increase in hydrocarbon production by 2030 and a decline in their investments in renewables?<\/strong><\/p>\n

To enable financial actors to adapt their financing, investment, and engagement strategies, Reclaim Finance has analyzed their orientations in detail. Several key indicators have been selected to assess the credibility of their climate action. All aim to answer three questions:<\/strong><\/p>\n