French oil major TotalEnergies has used the occasion of the UN Climate Change Conference (COP30) in Belém, Brazil, to announce a $100m (€86.19m) commitment to oil and gas decarbonisation.
The investment will support Climate Investment’s (CI) Venture Strategy fund focused on technologies that reduce emissions across the oil and gas sector.
Launched by the Oil and Gas Climate Initiative (OGCI) in 2015, CI is now a partner of the Oil and Gas Decarbonisation Charter (OGDC).
CI has channelled funds into 46 early and growth-stage companies in areas such as methane abatement, carbon capture and energy efficiency.
The portfolio has delivered an estimated 133 million tonnes of greenhouse gas reductions since 2019.
CI is expected to provide OGDC signatories with insights to help advance their decarbonisation efforts.
TotalEnergies, as a founding member of the OGDC, supported the collective efforts by sharing its AUSEA methane detection technology with national oil companies.
TotalEnergies chairman and CEO Patrick Pouyanné said: “TotalEnergies’ commitment to Climate Investment will help to scale proven solutions for the benefit of the OGDC community.
“Through this, we move as one industry – backing innovations that reduce emissions on-site – and enabling other operators to adopt them quickly.
“Innovation in decarbonisation must be a shared journey, and we will move faster together. I invite other IOCs [international oil companies] and NOCs [national oil companies] to join us through Climate Investment’s venture strategy.”
Separately, the OGDC released its 2025 Status Report at COP30, highlighting progress since its launch at COP28.
The Charter currently comprises 55 signatories from more than 100 countries, representing around 40% of global oil production.
Two-thirds of these are state-owned, with many based in emerging economies, according to TotalEnergies.
For the first time, OGDC companies shared emissions data using the OGCI Reporting Framework, allowing for more consistent reporting.
In 2024, scope 1 and 2 emissions from OGDC signatories were estimated at one billion tonnes of CO₂ equivalent.
The report also notes that 42 signatories, covering 94% of OGDC production, have set interim emissions reduction goals for 2030, with 36 of them having action plans.
ADNOC Group CEO and managing director, COP28 president and OGDC CEO champion Sultan Ahmed Al Jaber said: “Two years ago, at COP28, we came together to create the world’s first truly industry-wide coalition to decarbonise at scale.
“Since its inception, OGDC has grown to include 55 signatories, representing around 40% of global oil production across more than 100 countries.
“Together, we are turning the Charter’s words into action by delivering tangible progress, scaling innovation and reporting transparently against our shared commitments.”
