Three of the five super major oils (BP, Shell, and Total) press release on 17 December 2020. The other two supermajors, Chevron and XOM, were not mentioned in the press release.
One easy way to reduce emissions is to close or sell some assets.
https://seekingalpha.com/news/3645584-eight-big-oil-firms-agree-to-energy-transition-principles?mail_subject=bp-rds-a-eight-big-oil-firms-agree-to-energy-transition-principles&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha
Eight energy majors announce an agreement to apply a common set of "energy transition principles" across their businesses, including a commitment to industry decarbonization, in an effort to combat climate change.
- S. firm Occidental Petroleum (NYSE:OXY) joins BP, Royal Dutch Shell (RDS.A, RDS.B), Total (NYSE:TOT), Equinor (NYSE:EQNR), Eni (NYSE:E), Repsol (OTCQX:REPYF, OTCQX:REPYY) and Galp Energia (OTC:GLPEF, OTCPK:GLPEY) in pledging to apply six transition principles devised in collaboration with investor lobby group Climate Action 100+.
The companies say they will work to reduce emissions from their own operations; publicly support the goals of the Paris Climate Agreement; work with governments to develop low-carbon energy systems; support carbon capture utilization and storage technology; provide greater transparency around climate change risks; and report trade association memberships and how they align with their climate goals.
BP, Shell, Total, Occidental, Equinor and Repsol already have committed to a goal of net-zero emissions by at least 2050, while Eni has set a target of reducing net emissions by 80% by 2050.
Occidental said last month it would seek to cut greenhouse gas emissions at its operations to net zero by 2040.