Oil and Gas

• Mike Coffin - Carbon Tracker Initiative
• Luciano Caratori - Climate Champions Team
• Ayça Arinan - Consultancy
• Urias Goll - EcoHealth Alliance
• David Neilson - ERM
• Bruce Duguid - Federated Hermes Limited
• Frances Fray - Greenergy International Ltd
• Matthew Ives - GTI Energy
• Dan Gardiner - IIGCC
• Gary Cook - Independent consultant
• Margriet Kuijper - Independent consultant
• Rita Maina - Independent consultant
• Greg Muttitt - International Institute for Sustainable Development (IISD)
• Lorena Perez Bajo - Ipieca
• Sjoukje Van Oosterhout - Millieudefensie / Friends of the Earth Netherlands
• Ella Villen - Neste
• Kelly Trout - Oil Change International
• Diego Hopkins - Petronas
• Louis-Maxence Delaporte - Reclaim Finance
• Shamini Harrington - Sasol
• Dongjae Oh - Solutions For Our Climate (SFOC)
• Michael Lazarus - Stockholm Environment Institute US
• Michelle Horsfield - Sumitomo Mitsui Banking Corporation
• Mike Hemsley - Systemiq / Energy Transitions Commission
• Małgorzata Kasprzak - United Nations Environment Programme - International Methane Emissions Observatory
• Stuart Jenkins - University of Oxford
• Alice Evatt - University of Oxford and Kellogg College
• Saphira Rekker - University of Queensland
• Nils Bartsch - urgewald e.V.
• Yann Robiou du Pont - Utrecht University
• Molly Walton - We Mean Business Coalition
• Linda Htein - Wood Mackenzie
• Clare Anderson - Worley
• Helena Kowarick Spiritus - WWF
• Ricardo Junqueira Fujii - WWF Brazil

Note that the composition of the EAG may change over time, and this list will be updated accordingly. EAG members volunteer in a personal capacity to provide technical advice over the duration of the project. While their expertise helps guide the development process, final content decisions rest solely with the SBTi. As a result, the final output does not necessarily represent or imply endorsement by individual EAG members or their employers.

A Technical Working Group was established in 2019 and consisted of individuals from the following organizations:

• Agence de la transition écologique (ADEME)

• Aviva Investors

• bp

• California Resources Corporation (CRC)

• Carbon Tracker

• Climate Accountability Institute

• Eni

• Galp

• HSBCAviva Investors

• I Care

• Imperial College London

• Repsol

• Shell

• Total

• North Sea Transition Authority

• UN Global Compact

• University of Queensland Business School

• World Benchmarking Alliance

• World Resource Institute (WRI)

• World Wide Fund for Nature (WWF)

• Mike Coffin - Carbon Tracker Initiative
• Laetitia Pirson - Ceres
• Krista Halttunen - Imperial College London
• Bobbie Thoman - NOCO Energy Corporation
• Heidi Westlake - Origin Energy
• Ramiro Fernandez - Race to Zero
• Deborah Gordon and colleagues - RMI
• Michelle Horsfield - Sumitomo Mitsui
• Banking Corporation
• John Scott - Zurich Insurance Group

Due to the developing status of its fossil fuel sector work, the SBTi has paused all commitments and validations of targets from the fossil fuel sector. During this period, commitments will not be accepted from companies or subsidiaries in category 1 below. This policy is effective immediately and removal of previous commitments by oil and gas sector companies has been completed.

The SBTi reserves the right to remove other committed companies that, after careful evaluation, are considered to fall within category 1 below. Companies subject to this policy with targets that were approved prior to the policy's implementation will remain valid for five years from the approval date.

1. Companies that cannot commit to the SBTi until the oil and gas method is finalized.

• 1.1 Companies with any level of direct involvement in exploration, extraction, mining and/or production of oil, natural gas, coal or other fossil fuels, irrespective of percentage revenue generated by these activities, i.e. including, but not limited to, integrated oil and gas companies, integrated gas companies, exploration and production pure players, refining and marketing pure players, oil products distributors, gas distributors and retailers and traditional oil and gas service companies (except as noted in category 2 below).

2. Companies that can join the SBTi

• 2.1 Companies that derive less than 50% of revenue from a) sale, transmission and distribution of fossil fuels, or b) providing equipment or services to fossil fuel companies (see 1.1).

• 2.2 Companies with less than 5% revenue from fossil fuel assets (e.g. coal mine, lignite mine, etc.) for extraction activities with commercial purposes.

• 2.3 Electric utilities that mine coal for their own power generation.

• 2.4 Subsidiaries of fossil fuel companies (see 1.1) may join the SBTi if the subsidiary itself is not considered a fossil fuel company.
  
  SBTi evaluates the eligibility of subsidiaries of fossil fuel companies on a case-by-case basis. The subsidiary’s operational model and relevance of its emissions to its parent company will be assessed. Subsidiaries that are established for the sole purpose of setting science-based targets on a portion of a fossil fuel companies’ GHG inventory are not permitted to join SBTi.
  
  For transparency, subsidiaries who set targets but whose parent companies are ineligible will be identified via a footnote in their target wording.

In summary, the SBTi is continuing work on the Oil and Gas Standard. Until this method is final, the following will be put in place:

• Companies that fit category 1 with commitments were removed from the SBTi Target Dashboard.

• The SBTi will no longer accept commitments and/or validate targets for companies that fit category 1.

Further updates will be shared in due course. In the meantime, additional information is available in our FAQs. For any questions, contact the team at OGSector@sciencebasedtargets.org.

Policy change log

• 07/26/2022 - policy updated to clarify approach regarding subsidiaries of fossil fuel companies

• 04/19/2022 - policy updated to improve clarity

• 03/07/2022 - policy update published

The publication of this policy resulted in the removal of the following companies from the SBTi Target Dashboard:

• Adani Green Energy Ltd.
• Cadent
• CGP PRIMAGAZ
• Enagás S.A.
• FLUXYS BELGIUM
• Grupo Energía Bogotá S.A. ESP
• Halliburton Company
• James Fisher and Sons plc
• McDermott International
• Nabors Industries Ltd.
• Naturgy Energy Group SA.
• OKQ8 AB
• PJSC Tatneft
• Schlumberger Limited
• Snam S.p.A.
• Worley Ltd

• Guidance on Setting Science-Based Targets for Oil, Gas and Integrated Energy Companies
• Annex A: Non-Energy uses of Petroleum and Gas Products
• Annex B: Rationale for the Approach in Dealing with Overlap Between Oil & Gas and Petrochemical Industry
• Annex D: Fuel Specific Calculations for the Well-to-Wheel Indicator
• Annex F: The Least-Cost Methodology, Carbon Tracker
• Annex H: CH4 Emissions Analysis and Scenarios

For enquiries about the Oil and Gas Standard Development Project, email the team at OGSector@sciencebasedtargets.org

Join the SBTi mailing list for updates on this and other SBTi work, including sector projects.

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.