Oil and Gas Climate Initiative members pump record $30bn into low carbon tech in 2023

Stuart Stone
clock • 4 min read
Credit: iStock
Image:

Credit: iStock

Twelve firms producing almost a third of global oil and gas have invested close to $100bn in low-carbon tech since 2017 - but critics argue the industry's decarbonisation efforts remain underpowered

The Oil and Gas Climate Initiative's (OGCI) member companies invested a record $29.7bn in low carbon technologies during 2023, taking total funding to date to almost $100bn, the group's annual progress...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

Stuart Stone
Author spotlight

Stuart Stone

View profile
More from Stuart Stone

'Dirty man of Europe': English swimming waters five times more likely to be polluted than those in the EU

All-electric Kent new town inks deal to export clean power to the grid

More on Climate change

How climate-fuelled migration poses a 'growing threat' to UK food security
Climate change

How climate-fuelled migration poses a 'growing threat' to UK food security

New report from ECIU details how international food supply chains are facing escalating threats from climate impacts and the migration they are triggering

Amber Rolt
clock 07 August 2025 • 6 min read
Barclays becomes second major UK bank to quit Net Zero Banking Alliance
Climate change

Barclays becomes second major UK bank to quit Net Zero Banking Alliance

Barclays quits influential banking group claiming it ‘no longer has the membership’ to support bank's net zero transition

Stuart Stone
Stuart Stone
clock 01 August 2025 • 3 min read
Global Briefing: EU and China pledge to deepen co-operation promises 'renewed climate leadership'
Climate change

Global Briefing: EU and China pledge to deepen co-operation promises 'renewed climate leadership'

Superpowers reiterate commitment to working together in response to the climate crisis, Iberdrola ramps up its clean energy investment plans, and the world-famous Pacha nightclub goes 100 per cent renewable

James Murray
James Murray
clock 25 July 2025 • 6 min read