Both True — November’s Inexorable March to Net Zero

November was a blur of election strangeness. But once the dust settled, we can plainly see that the oil and gas march to net-zero targets continues to accelerate. This trend matters because your investors, employees, and stakeholders will ask about your company’s approach to net zero and your company’s role in the energy future.

Yes, there’s still a lot of uncertainty. But the game is changing. You must have an answer.

Both of these things are true:

  • The path to net zero for oil and gas companies is not clear.
  • You need to articulate your company’s vision and plans for net zero.

The situation:

While everyone was checking and rechecking the U.S. electoral map, here’s what happened on the net‑zero front:

It matters because:

In 2021, your investors, employees, and stakeholders will ask how you are creating the energy future.

By way of example, Oxy CEO Vicki Hollub said the following in a virtual CERA Week interview (as reported by Amy Harder in Axios): “Ultimately, I don’t know how many years from now, Occidental becomes a carbon management company and our oil and gas would be a support business unit for the management of that carbon.”

How are you thinking about the future?

The mistakes we make:

Many oil and gas company leaders remain stuck with the old playbook on decarbonization: rationalizing how much the world needs oil and gas, focusing on how to educate the public, and playing their part in the partisan political drama.

November showed us just how fast the world is moving on.

Seize the day:

We have much to look forward to in 2021 — let’s get it kicked off right. If this post was forwarded to you, you can subscribe here.

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