Know about Net Zero Producers’ Forum

By Sudheer Kumar K|Updated : May 30th, 2021

Major oil and gas producers form Net Zero Producers’ Forum with the aim to developing long-term strategies to reach global net-zero emissions.

Context:

Five major oil producer countries (such as Qatar, the US, Saudi Arabia, Canada and Norway), which are collectively responsible for 40% of global oil and gas production, have come together to form a cooperative forum that will develop pragmatic net zero emission strategies. 

About Net Zero Producers’ Forum:

The Net Zero Producers’ Forum will consider strategies and technologies which include “methane abatement, advancing the circular carbon economy approach, development and deployment of clean-energy and carbon capture and storage technologies, diversification from reliance on hydrocarbon revenues, and other measures in line with each country’s national circumstances.”

The forum provides the oil exporters to discuss how they can support the implementation of the Paris Agreement on climate change.

Also read: 

What is Net Zero Target?

What is Paris Agreement?

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