Investment group Oil and Gas Climate Initiative (OGCI) today celebrated the launch of its third annual report with the announcement of three new low emissions investments.
OGCI) has put its money into, Solidia Technologies, a concrete production company, Achates Power, an efficient vehicle engine developer, and a project aimed at developing a gas power plant with carbon capture and storage capability.
In conjunction with Imperial College London, OGCI published its annual report, Catalyst for Change, which looks at reducing carbon emissions through investment by focusing its attention on ‘hotspots’ likely to bring the best results.
Pratima Rangarajan, CEO of OGCI Climate Investments, said: “The three investments we are announcing today have the potential to make a meaningful impact on greenhouse gas emissions. We look forward to working with these innovative teams to help them achieve commercial success on a global scale.”
Erik Solheim, executive director of UN Environment, said: “Oil and gas industry leaders have a critical role to play in our efforts to take on climate change and limit the global temperature rise. We are counting on groups such as OGCI to support the needed shift in the way we produce and consume energy. Partnerships like this are extremely important. They’re not only about financial support, but concrete action – because this is how success will be measured.”
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