IIGCC has published a Net Zero Standard for Oil & Gas, a framework for investors to assess alignment of oil and gas companies’ transition plans with a 1.5 climate scenario and support investors’ corporate engagement and understanding of transition risk.

The publication follows a two-year collaborative process led by IIGCC with support from the Transition Pathway Initiative (TPI), investors and regional investor groups, and was developed following a growing interest amongst investors to better understand the increasing differences in company transition plans and to capture sector-specific nuances when conducting company assessments.

The new framework was developed by IIGCC to complement the Disclosure Framework of the Climate Action 100+ Net Zero Company Benchmark. For instance, all 90 metrics used in IIGCC’s Oil and Gas Framework are aligned with the indicators of the Climate Action 100+ Company Benchmark Disclosure Framework. This is the first of a series of sector-specific frameworks IIGCC will be helping to develop.

The Net Zero Standard for Oil & Gas will be used for initial public assessments of the largest European and North American oil and gas companies in late 2023. The list of companies for assessment will be finalised by the end of Q2 2023.

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