The oil industry came under fire from climate activists, investors and global leaders at the UN General Assembly in New York in recent days.

Oil executives went to lengths to describe what they are doing on climate change, which is arguably an indication that they are beginning to feel the heat as the world calls for an energy transition.

“We are doing all we can” to fight climate change, Equinor’s CEO Eldar Saetre said aboard a boat touring the Norwegian oil company’s offshore wind project in New York, according to the New York Times.

Some of the world’s largest oil companies have made commitments as part of the Oil and Gas Climate Initiative (OGCI). The group consists of companies representing 30 percent of global oil production.

Coinciding with the UN meeting, the group announced new initiatives in several areas. First, OGCI members aim to develop carbon capture and storage, with the goal of doubling the amount of CO2 is that is stored by 2030.

Second, the industry also wants to cut methane emissions, an issue that has been highly controversial in the United States. Methane leaks occur along the entire process of natural gas – at the drilling site, in pipelines, in processing and throughout transmission and distribution – and there has been a years-long debate over whether or not methane leaks to such a degree that gas loses its climate benefit over coal in electricity generation. Because methane is vastly more powerful than CO2 in its warming potential, slashing methane emissions is vitally important…CLICK for complete article