Environment, Social, and Governance Investment Guidelines
The planned expansion of the OCI to include oil and gas value chains could lead to the development of a climate certification standard for petroleum resources. The envisioned certification will follow similar guidelines as the LEED green building rating system. Companies will be able to voluntarily engage in the certification to evaluate their lifecycle GHG emissions from their oil and gas operations. Given the highly competitive nature of the oil industry, climate certification can spur a race-to-the-top between those companies and regions with “advantaged barrels” and greater adoption of low-carbon technologies.