![](\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2023\/03\/Webinar-Majors.png\")
<\/a><\/span><\/div>Speakers<\/h3><\/span><\/div><\/div><\/div>\n- Mark Campanale<\/strong>, Carbon Tracker Initiative<\/li>\n
- Lucie Pinson<\/strong>, Reclaim Finance<\/li>\n
- Mike Coffin<\/strong>, Carbon Tracker Initiative<\/li>\n
- Dimitri Lafleur<\/strong>, Global Climate Insights<\/li>\n
- Guillaume Pottier<\/strong>, Reclaim Finance<\/li>\n<\/ul>\n<\/div><\/div><\/div>
As oil and gas majors increasingly commit to achieving netzero carbon emissions by 2050, what they call \u201ctransition plans\u201d or \u201cclimate plans\u201d are not necessarily climate-proof. Even so, their promises resonate with banks, insurers and investors around the world who are aiming to achieve carbon neutrality by 2050 and halve emissions by 2030.<\/p>\n
If they are to meet their own climate commitments, financial actors will have to take drastic and rapid action to reduce fossil fuel production and halt fossil fuel expansion. Supporting so-called \u201cbest in class\u201d and \u201ctransitioning\u201d oil and gas companies will not be enough to achieve this. Indeed, a growing body of research demonstrates that the majors\u2019 pledges are not currently on track to reduce their GHG emissions and will largely overshoot the remaining 1.5\u00b0C carbon budget. Financial actors should therefore set clear redlines and expectations for the oil and gas industry\u2019s future plans to ensure they are on a credible path to 1.5\u00b0C.<\/p>\n\nRead more<\/summary>\nIn this webinar for financial institutions, we discussed:<\/p>\n
\n- What does 1.5\u00b0C mean for the O&G sector according to the science and the IEA's Net Zero scenario by 2050?<\/li>\n<\/ul>\n
\n- What are the key indicators to assess the credibility of hydrocarbon companies' \"climate plans\"?<\/li>\n<\/ul>\n
\n- Why committing to distant carbon neutrality targets is not enough to keep global warming below 1.5\u00b0C? What does climate \"alignment\" mean? Why is the path to carbon neutrality much more important than the final destination?<\/li>\n<\/ul>\n
\n- What is the risk of stranded assets in the O&G sector under different scenarios - including the current oil price spike - and which companies are most exposed?<\/li>\n<\/ul>\n
\n- What should be the role of investors in the context of the 2022 AGM season?<\/li>\n
- We will illustrate the discussion by referring to the 6 largest European O&G majors, some of which are often considered \"best in class\": Shell, TotalEnergies, BP, Eni, Equinor and Repsol.<\/li>\n<\/ul>\n
Learn more:<\/span><\/p>\n\n- Carbon Tracker's report <\/a><\/span>\"Adapt to Survive: Why oil companies must plan for net zero and avoid stranded assets\".<\/li>\n
- Carbon Tracker's report <\/a><\/span>\"Managing Peak Oil: Why rising oil prices could create a stranded asset trap as the energy transition accelerates\".<\/li>\n
- Global Climate Insights's report<\/a><\/span> on Royal Dutch Shell\u2019s climate transition strategy.<\/li>\n
- Reclaim Finance\u2019s analysis<\/a><\/span> \"Major Failure: Why the 6 main European oil and gas majors do not have a credible climate plan.\" The website includes the detailed calculations and data in Excel format available for download, in addition to company briefings for BP<\/a><\/span>, ENI<\/a><\/span>, Shell<\/a><\/span> and TotalEnergies<\/a><\/span>. The methodology can be found here<\/a><\/span>.<\/li>\n<\/ul>\n<\/details>\n<\/div>
- \n
- Mark Campanale<\/strong>, Carbon Tracker Initiative<\/li>\n
- Lucie Pinson<\/strong>, Reclaim Finance<\/li>\n
- Mike Coffin<\/strong>, Carbon Tracker Initiative<\/li>\n
- Dimitri Lafleur<\/strong>, Global Climate Insights<\/li>\n
- Guillaume Pottier<\/strong>, Reclaim Finance<\/li>\n<\/ul>\n<\/div><\/div><\/div>
As oil and gas majors increasingly commit to achieving netzero carbon emissions by 2050, what they call \u201ctransition plans\u201d or \u201cclimate plans\u201d are not necessarily climate-proof. Even so, their promises resonate with banks, insurers and investors around the world who are aiming to achieve carbon neutrality by 2050 and halve emissions by 2030.<\/p>\n
If they are to meet their own climate commitments, financial actors will have to take drastic and rapid action to reduce fossil fuel production and halt fossil fuel expansion. Supporting so-called \u201cbest in class\u201d and \u201ctransitioning\u201d oil and gas companies will not be enough to achieve this. Indeed, a growing body of research demonstrates that the majors\u2019 pledges are not currently on track to reduce their GHG emissions and will largely overshoot the remaining 1.5\u00b0C carbon budget. Financial actors should therefore set clear redlines and expectations for the oil and gas industry\u2019s future plans to ensure they are on a credible path to 1.5\u00b0C.<\/p>\n
\nRead more<\/summary>\n
In this webinar for financial institutions, we discussed:<\/p>\n
- \n
- What does 1.5\u00b0C mean for the O&G sector according to the science and the IEA's Net Zero scenario by 2050?<\/li>\n<\/ul>\n
- \n
- What are the key indicators to assess the credibility of hydrocarbon companies' \"climate plans\"?<\/li>\n<\/ul>\n
- \n
- Why committing to distant carbon neutrality targets is not enough to keep global warming below 1.5\u00b0C? What does climate \"alignment\" mean? Why is the path to carbon neutrality much more important than the final destination?<\/li>\n<\/ul>\n
- \n
- What is the risk of stranded assets in the O&G sector under different scenarios - including the current oil price spike - and which companies are most exposed?<\/li>\n<\/ul>\n
- \n
- What should be the role of investors in the context of the 2022 AGM season?<\/li>\n
- We will illustrate the discussion by referring to the 6 largest European O&G majors, some of which are often considered \"best in class\": Shell, TotalEnergies, BP, Eni, Equinor and Repsol.<\/li>\n<\/ul>\n
Learn more:<\/span><\/p>\n
- \n
- Carbon Tracker's report <\/a><\/span>\"Adapt to Survive: Why oil companies must plan for net zero and avoid stranded assets\".<\/li>\n
- Carbon Tracker's report <\/a><\/span>\"Managing Peak Oil: Why rising oil prices could create a stranded asset trap as the energy transition accelerates\".<\/li>\n
- Global Climate Insights's report<\/a><\/span> on Royal Dutch Shell\u2019s climate transition strategy.<\/li>\n
- Reclaim Finance\u2019s analysis<\/a><\/span> \"Major Failure: Why the 6 main European oil and gas majors do not have a credible climate plan.\" The website includes the detailed calculations and data in Excel format available for download, in addition to company briefings for BP<\/a><\/span>, ENI<\/a><\/span>, Shell<\/a><\/span> and TotalEnergies<\/a><\/span>. The methodology can be found here<\/a><\/span>.<\/li>\n<\/ul>\n<\/details>\n<\/div>
- Carbon Tracker's report <\/a><\/span>\"Managing Peak Oil: Why rising oil prices could create a stranded asset trap as the energy transition accelerates\".<\/li>\n
- Carbon Tracker's report <\/a><\/span>\"Adapt to Survive: Why oil companies must plan for net zero and avoid stranded assets\".<\/li>\n
- What is the risk of stranded assets in the O&G sector under different scenarios - including the current oil price spike - and which companies are most exposed?<\/li>\n<\/ul>\n
- Why committing to distant carbon neutrality targets is not enough to keep global warming below 1.5\u00b0C? What does climate \"alignment\" mean? Why is the path to carbon neutrality much more important than the final destination?<\/li>\n<\/ul>\n
- What are the key indicators to assess the credibility of hydrocarbon companies' \"climate plans\"?<\/li>\n<\/ul>\n
- Lucie Pinson<\/strong>, Reclaim Finance<\/li>\n