Oil and Gas

Guidance for the oil and gas sector

Why take action?

The combustion of fossil fuels represents the single largest source of carbon dioxide emissions. In addition, the oil and gas industry is one of the largest contributors of methane emissions. To meet the goals of the Paris Agreement and avoid catastrophic and irreversible climate change, the sector must radically transform.

Oil and gas companies are highly exposed to net-zero transformation risks - as well as opportunities. With its considerable scientific, technical, economic and financial assets, the sector wields enormous power to drive ambitious climate action and build the net-zero economy that we urgently need.

A new methodology

We are developing a new methodology for oil and gas companies to set science-based targets. Currently, the SBTi is unable to accept commitments or validate targets for companies in the oil and gas or fossil fuels sectors. Find out more about our fossil fuel policy.

Get involved

If your company is interested in leading the way to a net-zero future for the industry, get in touch or join the SBTi mailing list.

Browse more sectors

If your sector is not listed here, you can still set a science-based target using our methods and resources. Consult the step-by-step guide to get started.

Sector Status
Aluminium Scoping Phase View
Apparel and footwear Finalized View
Aviation In Development View
Buildings In Development View
Chemicals In Development View
Cement Finalized View
Financial institutions Finalized View
Forest, Land and Agriculture (FLAG) Finalized View
Information and Communication Technology (ICT) Finalized View
Maritime Finalized View
Oil and Gas In Development View
Power Finalized View
Steel In Development View
Transport In Development View