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Dutch Investors Call on Oil Majors to “Prove” Paris Commitment

The Dutch Climate Coalition (DCC) has called on oil and gas firms to demonstrate their strategies will contribute to a global decline in emissions by 2030 in line with a 1.5°C warming pathway. The DCC, whose members include PGGM, Achmea Investment Management and APG, said that despite “commendable progress” in recent years, “no oil and gas company has fully convinced us of their Paris alignment”. The DDC recommended firms boost the availability of low-carbon solutions, explain how natural gas acts as a transition fuel, and stop using high oil prices as a reason to increase oil investments.  The DCC said it is “confident that it is within the capabilities of oil and gas companies to prove to us that they are actively contributing to limiting global warming to 1.5°C”, but warned there is “little chance of success without the concerted efforts of fossil fuel-consuming companies, policymakers” more widely.  

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