Pledges to Progress 2026

At COP28, more than 50 of the world’s leading oil and gas companies signed the Oil and Gas Decarbonization Charter (OGDC), committing to achieve net zero operational emissions by 2050 and accelerate emissions reductions across the oil and gas sector. As global methane and flaring emissions continue to rise, these ambitions are more important than ever to reduce energy waste and mitigate the harmful consequences of climate change.

To support accountability and transparency, the International Energy Agency, the United Nations Environment Programme’s International Methane Emissions Observatory, and the Environmental Defense Fund set out a framework of 25 metrics to assess and track the efforts reported by the oil and gas industry to achieve the goals set out in the OGDC. The metrics cover the ambitions of the OGDC, as well as additional indicators considered important for credible emissions reductions. The framework is detailed in the 2024 report Turning Pledges into Progress.

This report provides oil and gas companies, governments, investors, civil society and the public with an assessment of the publicly stated actions companies are taking towards fulfilling the ambitions in the OGDC. This is the second assessment of the largest oil and gas companies against the 25 metrics of the framework. It covers companies that make up around 80% of global oil and gas production and considers both OGDC signatory and non-signatory companies.