REPYF - Investor group set to push European oil producers on net-zero goals

More than 20 global investors with collective assets worth more than $10T have published a standard setting minimum expectations for what oil and gas companies need to do to align their capital spending and production plans with net-zero emissions targets. The Net Zero Standard for Oil and Gas initiative outlines 10 specific requirements to help money managers compare companies' strategies and understand whether they are aligned with United Nations-backed efforts to reduce global carbon emissions to net-zero by 2050. A group of European oil and gas companies, including BP, Eni (NYSE:E), Repsol (OTCQX:REPYF, OTCQX:REPYY), Shell (RDS.A, RDS.B) and TotalEnergies (NYSE:TTE), agree to participate in a pilot program with investors to test the standard, suggesting a level of buy-in from the industry. Companies such as BP and Shell have set net-zero targets and begun developing transition plans, but the significant variation in scope, definitions and ambition makes analysis and comparison difficult

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Investor group set to push European oil producers on net-zero goals