The Oil and Gas Climate Initiative (OGCI) announced Friday an investment of $1 billion over the next ten years to develop and accelerate the commercial deployment of innovative low emissions technologies.
OGCI Climate Investments (OGCI CI) will aim to deploy successfully-developed new technologies among member companies and will identify ways to cut the energy intensity of both transport and industry. Working in partnership with like-minded initiatives across all stakeholder groups and sectors, the OGCI CI believes its emission reduction impact can be multiplied across industries.
“We are personally committed to ensuring that by working with others our companies play a key role in reducing the emissions of greenhouse gases, while still providing the energy the world needs,” they added.
A CEO and management team for OGCI Climate Investments will be announced in the near future.
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