TotalEnergies announced a €86.19 million commitment to Climate Investment’s (CI) Venture Strategy fund during the UN Climate Change Conference (COP30) held in Belém, Brazil.
The fund focuses on accelerating the deployment of technologies aimed at reducing emissions across the oil and gas sector.
Launched by the Oil and Gas Climate Initiative (OGCI) in 2015, Climate Investment (CI) is now a partner of the Oil and Gas Decarbonisation Charter (OGDC).
CI has invested hundreds of millions of dollars into 46 early and growth-stage companies developing technologies such as methane abatement, carbon capture, and energy efficiency improvements.
Since 2019, the portfolio backed by CI has facilitated an estimated reduction of 133 million tonnes of greenhouse gases, demonstrating significant progress in cutting emissions across the industry.
TotalEnergies is deepening its leadership in the sector’s collective decarbonisation efforts and, as a founding member of the OGDC, is sharing its AUSEA methane detection technology with national oil companies to enhance methane leak detection and measurement.
This technology complements TotalEnergies’ OGMP 2.0 Gold Standard status and contributes to ongoing methane monitoring on its operated upstream assets.
Patrick Pouyanné, chairman and CEO of TotalEnergies, emphasised the importance of collaborative innovation: “TotalEnergies’ commitment to Climate Investment will help to scale proven solutions for the benefit of the OGDC community.
“Through this, we move as one industry – backing innovations that reduce emissions on-site – and enabling other operators to adopt them quickly.
“Innovation in decarbonisation must be a shared journey, and we will move faster together.
“I invite other IOCs [international oil companies] and NOCs [national oil companies] to join us through Climate Investment’s venture strategy.”
Alongside this funding announcement, the OGDC released its 2025 Status Report at COP30, showcasing advancements since its launch at COP28.
The Charter now includes 55 signatories from over 100 countries representing about 40 per cent of global oil production, of which two-thirds are state-owned enterprises, many situated in emerging economies.
For the first time, OGDC members shared emissions data using the OGCI Reporting Framework, allowing more consistent and transparent reporting.
In 2024, the scope 1 and 2 emissions from OGDC signatories were estimated at around one billion tonnes of CO₂ equivalent.
The report further highlights that 42 signatories, accounting for 94 per cent of OGDC production, have set interim emissions reduction targets for 2030, with 36 having developed action plans to reach these goals.
Sultan Ahmed Al Jaber, ADNOC Group CEO, COP28 president, and OGDC CEO champion, stated: “Two years ago, at COP28, we came together to create the world’s first truly industry-wide coalition to decarbonise at scale.
“Since its inception, OGDC has grown to include 55 signatories, representing around 40 per cent of global oil production across more than 100 countries.
“Together, we are turning the Charter’s words into action by delivering tangible progress, scaling innovation and reporting transparently against our shared commitments.”
