This briefing assesses the recent climate change announcements from six European oil & gas majors. This briefing paper provides provisional Carbon Performance assessments for the six European integrated oil and gas companies covered by TPI following the disclosure of new targets by BP, Eni, Repsol, Shell and Total in the last six months.

New research from the Transition Pathway Initiative (TPI) reveals that just two of the ten largest mining companies are aligned with limiting climate change to 2°C. These 10 companies have a market capitalisation of over $350bn and contribute to annual carbon emissions of over 1.5 billion tonnes either directly or indirectly via their products.

New research by the Transition Pathway Initiative finds that 29% of the largest publicly-listed industrial companies are set to align their emissions with the Paris Pledges by 2030, up from 24% in mid-2018.These companies are aligned with the emission reduction pledges made by national governments in the Paris Agreement.

A major new report assessing the climate performance of 274 of the world’s highest-emitting publicly-listed companies finds that almost half (46%) do not adequately consider climate risk in operational decision-making.