The oil and gas industry reaffirms its commitment to climate change management and sustainable energy diversification

• The ACP and the Ministry of Mines and Energy signed a voluntary union agreement to work together on the implementation of the Comprehensive Climate Change Management Plan for the sector.
• This industry is aware of the challenges posed by climate change and is a leader in the implementation of mitigation and adaptation actions.
• The hydrocarbons sector promotes public policies on climate change and invests decisively to advance energy efficiency, reduce greenhouse gas emissions, and the sustainable development of the regions.

Glasgow, November 4, 2021. In the framework of the Conference of the Parties, COP26, the Colombian Association of Oil and Gas and the Ministry of Mines and Energy signed a voluntary guild memorandum of understanding that reaffirms the commitment of the oil and gas industry to climate change management, and to being a fundamental support for the country to achieve sustainable energy diversification.

The agreement, which is part of the hydrocarbons sector's push for public policies on climate change, promotes joint work on concrete projects and actions in the exploration and production of hydrocarbons that contribute to achieving the goals of the strategies by 2050, in compliance with the Comprehensive Climate Change Management Plan of the mining-energy sector (PIGCCme), in whose construction and updating the ACP has participated on behalf of the industry.

The update of the PIGCCme to 2050, initially set for 2030 and launched by the Government in 2019, was presented on November 2 by the Ministry of Mines and Energy at COP26, as a development of the commitments made by the country during COP21 in 2015 in Paris, and with the purpose of strengthening competitiveness and sustainability, to contribute to the reduction of CO2 emissions and achieve carbon neutrality.

«The mining-energy sector continues to be a pioneer in sustainability. We were the first to adopt a Comprehensive Climate Change Management Plan through resolution, and now we continue working with initiatives like this in conjunction with the ACP and Naturgas, which will allow us to advance on the path to compensate, reduce or avoid CO2 emissions, contributing to the reduction target set by the National Government for Colombia to consolidate its fight against climate change,» said the Minister of Mines and Energy, Diego Mesa.

“The oil and gas industry is a leading sector in implementing actions against climate change, which contribute to energy efficiency, the reduction of greenhouse gas emissions, and the sustainable development of regions. An example of this, for adaptation to climate change, is that the hydrocarbons sector invests in the conservation and recovery of watersheds ($52 billion between 2016-2019); and develops important initiatives for the conservation and restoration of biodiversity, among many other efforts,” expressed Francisco José Lloreda Mera, executive president of the guild.

Lloreda indicated that action against climate change is a task that concerns all sectors, and for this reason, companies in the hydrocarbons value chain have taken a leading role in the challenges of mitigation and adaptation, which is also fundamental to ensure the sustainable energy supply that the country requires.

Additionally, during its participation in COP26, the ACP was part of a discussion on the role of the hydrocarbons industry in carbon neutrality and the climate resilience of the Colombian economy, where, along with the Ministry of Mines and Energy, the Ministry of Environment and Sustainable Development, Naturgas, Ecopetrol, and IPIECA, the main barriers and opportunities of the sector in the diversification of the energy supply were also addressed.

  

The #OilAndGasIndustry is aware of the reality of climate change, for this reason, since the @ACP_Colombia has participated in the construction and update of the Comprehensive Climate Change Management Plan for the Mining and Energy sector. #COP26 #ColombiaAtCOP26 pic.twitter.com/cEwlX4NSRq

— Colombian Association of Oil and Gas (@ACP_Colombia) November 4, 2021