Lifecycle
- Effective
- Last change
Country / jurisdiction: United Kingdom · Year: 2021 · Status: In force · Level: National · Type: Voluntary
The UK Oil & Gas Authority Strategy amends the Maximizing Economic Recovery Strategy (MER UK Strategy) and places an obligation on the oil and gas industry to assist the Secretary of State in meeting the net-zero emissions target by 2050.
The main changes are:
- Clarifying that net zero is part of MER in the Central Obligation and embedding this change in relevant Supporting Obligations and economic definitions;
- Including net zero as part of MER in the Central Obligation and embedding this change in relevant Supporting Obligations and economic definitions;
- Reinforcing behaviors that enable effective supply chain collaboration;
- Including a new corporate governance Supporting Obligation;
- Including a new carbon storage Supporting Obligation;
- Moving the collaboration ‘Required Action’ to the ‘Supporting Obligations’;
- Clarifying how the OGA will include carbon costs in economic calculations.
Official source: https://www.nstauthority.co.uk/media/7105/the-oga-strategy.pdf
Source
https://www.iea.org/policies/14231Canonical document at the regulator. Always cite this URL — not the Vantage detail page — in compliance evidence.