A dozen of the world’s largest oil and natural gas producers, whose goal when they came together was to cut emissions from their upstream businesses, have increased the targets for methane and carbon to 2025.

The CEO-led Oil and Gas Climate Initiative (OGCI), launched in 2014, said Tuesday it has set more stringent targets to reduce the carbon and methane intensity from their operated assets around the globe in the next four years. 

The initiative’s 12 energy producers include three headquartered in the United States, Chevron Corp., ExxonMobil and Occidental Petroleum Corp. Other OGCI members are BP plc, China National Petroleum Corp., Eni SA, Equinor ASA, Petróleo Brasileiro SA, Repsol SA, Royal Dutch Shell plc, Saudi Arabian Oil Co. and TotalEnergies. 

The companies...