Transition to the 1.5°C Future: Where Do 100 Oil and Gas Companies Stand?
13 July 2021
Where do the 100 most influential oil and gas companies stand in the transition to the low-carbon future? The World Benchmarking Alliance (WBA) hosted a webinar on the key findings from its Oil and Gas Benchmark which has assessed 100 companies on their alignment with a 1.5°C pathway needed to reach the Paris Agreement.
The benchmark arrives at a critical moment in time when pressure is mounting on the sector to make fundamental changes, including the IEA’s recent call for a rapid transition away from fossil fuels and a period of pivotal legislative and shareholder action against major companies. While industry heavyweights have long expressed their commitment to becoming more environmentally conscious, the benchmark findings reveal a glaring lack of progress and the companies find themselves at a crossroads – transform or be left behind in the race to net-zero.
The panel included Natural Resource Governance Institute advisor Patrick Heller, as well as experts from the International Energy Agency, WBA and the government of France.