The Oil and Gas Climate Initiative (OGCI) announced on 27 October its first three investments, moving forward the organization’s commitments into concrete action to spur the growth of promising low-carbon technologies.
OGCI Climate Investments is the billion-dollar investment fund established in 2016 by OGCI. The fund invests in promising technologies and business models that have the potential to significantly reduce greenhouse gas emissions. OGCI Climate Investments is building a network of partners and coinvestors in key sectors to leverage the expertise of this global network.
Pratima Rangarajan, chief executive officer of OGCI Climate Investments, said, “The three investments we are announcing today have the potential to make a meaningful impact on greenhouse gas emissions. We look forward to working with these innovative teams to help them achieve commercial success on a global scale.”
OGCI also releases its third annual report, which shows the progress made toward tackling some of the industry’s biggest challenges and shares new partnership agreements that support OGCI’s ambitions.