The Situation

Avoiding dangerous levels of climate change and delivering on the Paris Agreement require a dramatic shift in the way that we produce and use energy. Delivering on the UAE Consensus agreed at COP28 and establishing the enabling conditions for oil and gas producing countries to transition away from fossil fuels is a critical part of that challenge.

Estimates suggest that globally, if we are to have a reasonable chance of avoiding dangerous climate change, by 2050 we can burn no more than:

42%

of current proven oil reserves

41%

of current proven gas reserves

Source

In 2030, governments’ production plans and projections would lead to around 240% more coal, 57% more oil, and 71% more gas than would be consistent with limiting global warming to 1.5°C.

This needs to change.

Our Solution

BOGA’s core members are committing to end new concessions, licensing or leasing rounds and to set a Paris-aligned date for ending oil and gas production.

Alongside this, BOGA is working to establish the enabling conditions for an orderly, just transition away from oil and gas, including enhanced finance and support for oil and gas dependent economies in their transitions, and credible, country-led pathways for the Paris Alignment of oil and gas production in line with 1.5°C.

Action to reduce both demand for and supply of oil and gas is crucial to reduce emissions, avoid significant stranded assets, and benefit from the opportunities associated with the net-zero transition.

How is Oil and Gas Production Defined?

Oil and gas production is defined as the upstream exploration, development and production of oil and gas up to, but not including, midstream and downstream activities.

How BOGA makes a difference

BOGA is designed to raise climate ambition among governments through high-level political dialogue alongside policy and technical support related to oil and gas production phase-out and just transition. Through a cumulative, tiered membership structure, BOGA will provide the means and motivation to increase ambition over time.

BOGA fully recognises that some countries will have a greater capacity to phase-out oil and gas production faster. Industrialised countries must lead the way. At the same time, this is a global challenge that requires global solutions.