The $1 billion-plus investment arm of the Oil & Gas Climate Initiative (OGCI), established by the CEOs of a dozen energy majors, said its portfolio companies have cut their direct carbon emissions by half since 2019.

The decarbonization investor arm, OGCI Climate Investment (OGCI CI), said the 23 Catalyst Fund I portfolio companies realized a greenhouse gas (GHG) reduction between 2019 and 2021 of 30 million tons of carbon dioxide equivalent (mtCO2e). On an annual basis, the portfolio said it had delivered a GHG impact of 15.8 mtCO2e in 2021. That’s more than double since measurements began to be taken in 2019.

“We realized early that to achieve our GHG impact goals, we needed objective metrics, which could be used to guide our investment decisions,” OGCI CI CEO Pratima...