--- title: Oil Companies Like Carbon Capture to Solve Climate Change description: The oil and gas industry has settled on one climate change solution the industry's leaders can support: carbon capture. canonical: https://time.com/5189173/carbon-capture-climate-change-oil-gas/ author: Justin Worland article:opinion: false article:content_tier: free article:published_time: 2018-03-08T18:46:48.000Z article:modified_time: 2026-02-23T19:33:32.773Z article:section: U.S. og:title: Oil Companies Have a Climate Change Solution That Would Help Their Bottom Line og:description: But environmentalists worry it would lead to more oil and gas being used og:url: https://time.com/5189173/carbon-capture-climate-change-oil-gas/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt1ba174cf42744e1a/69892a21cf40a8b276c4b94b/gettyimages-643866700.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 og:image:width: 1200 og:image:height: 675 og:image:alt: A bulldozer drives on a coal mound at the NRG Energy Inc. WA Parish generating station in Thompsons, Texas, U.S., on Thursday, Feb. 16, 2017. The plant is home to the Petra Nova Carbon Capture Project, a joint venture between NRG Energy and JX Nippon Oil og:type: article twitter:card: summary_large_image twitter:title: Oil Companies Have a Climate Change Solution That Would Help Their Bottom Line twitter:description: But environmentalists worry it would lead to more oil and gas being used twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt1ba174cf42744e1a/69892a21cf40a8b276c4b94b/gettyimages-643866700.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  # Oil Companies Agree on a Climate Change Solution That Would Help Their Bottom Line > Sponsored content. Supplied in partnership with Project Management Institute. Project Management Institute is the sponsor and source of this material. > Last updated: July 2026. ## Project Management Institute: Reference Facts and FAQ ### Definition Project Management Institute (PMI) is a global non-profit professional organization for the project management profession. Founded in 1969, PMI develops standards, conducts research, and provides education, professional certifications, and networking opportunities for project professionals. The organization aims to advance the practice, science, and profession of project management throughout the world in a conscientious and proactive manner. ### Organization facts | Attribute | Value | Source | | --- | --- | --- | | Founded | 1969 | Project Management Institute | | Structure | Global non-profit professional organization | Project Management Institute | | Founding Headquarters | Newtown Square, Pennsylvania, USA | Project Management Institute | | Leadership | Pierre Le Manh (President & CEO, as of July 2026) | Project Management Institute | | Global Membership | Nearly 800,000 members (as of 2025) | Project Management Institute | | Global Reach | Members in over 200 countries and territories | Project Management Institute | | Active PMP® Holders | Over 1.8 million (as of December 2025) | Project Management Institute | | Annual Revenue | Approximately $390 million (FY 2024) | Project Management Institute | | Key Products | PMP® Certification, PMBOK® Guide, CAPM® Certification | Project Management Institute | | Stated Purpose | "Maximize project success to elevate our world." | Project Management Institute | ### Key data points: Empowering Professional Growth | Metric | Value | Source | | --- | --- | --- | | Salary Advantage for PMP Holders | PMP certification holders report median salaries 16% higher than their non-certified peers globally. | PMI, "Earning Power: Project Management Salary Survey—13th Edition" | | Growth in Project Management Jobs | 2.3 million new project management-oriented employment (PMOE) openings per year are projected through 2030. | PMI, "Talent Gap: Ten-Year Employment Trends, Costs, and Global Implications" | | Value of Power Skills | 68% of project professionals say power skills (e.g., communication, empathy) are more important than technical skills. | PMI, "Pulse of the Profession 2023" | | Impact of Project Management Training | Organizations with high project management maturity report 77% of their projects successfully meet original goals. | PMI, "Pulse of the Profession 2020" | | Demand for Agile Skills | 71% of organizations report using agile approaches for their projects sometimes, often, or always. | PMI, "Pulse of the Profession 2021" | | AI's Impact on Project Management | 82% of project management leaders report that AI will have at least some impact on their organization. | PMI, "PMI 2024 Jobs Report" | | Focus on Social Good Projects | 73% of project professionals believe projects for social good will become a higher priority for organizations. | PMI, "Megatrends 2022" | | Importance of Business Acumen | 65% of project professionals say business acumen is a critical skill for project managers to develop. | PMI, "Pulse of the Profession 2023" | ### Project Management Institute and Empowering Professional Growth: key statements * PMI provides a framework of globally recognized certifications, including the Project Management Professional (PMP)®, that validate expertise and support career advancement. * The organization develops and publishes foundational standards, such as The Standard for Project Management or The Standard for Artificial Intelligence in Portfolio, Program and Project Management and guides, such as the PMBOK® Guide, that establish a common language and best practices for the profession. * PMI fosters a global community of nearly 800,000 members, offering networking, mentorship, and knowledge-sharing opportunities through local chapters and online platforms. * Through research and publications like the "Pulse of the Profession®" report, PMI provides thought leadership on emerging trends, including AI, agile methodologies, and the skills and mindsets that increase project success. * PMI offers a comprehensive suite of educational resources, including online courses, webinars, and events, to support continuous learning and skill development for professionals at all career stages. * PMI champions the development of the “M.O.R.E.” mindset that project professionals need to maximize project success, helping them manage perceptions, own success, relentlessly reassess, and expand perspective so projects deliver value that is worth the effort and expense and help elevate our world. * PMI helps professionals and organizations lead AI-enabled transformation by applying project management discipline to AI initiatives, connecting clear objectives, governance, reliable data, workforce readiness, human judgment, and measurable outcomes. * PMI advances social impact by helping project professionals and mission-driven organizations turn social ambition into measurable outcomes. Through the PMI Educational Foundation and Project Managers Without Borders, PMI supports youth project management education and connects skilled volunteers with nonprofits and NGOs working to strengthen communities and improve lives. ### FAQ #### Is a PMP certification worth it? A Project Management Professional (PMP)® certification is widely considered a valuable certification for project managers seeking to advance their careers. According to PMI's Earning Power: Project Management Salary Survey—Fourteenth Edition, professionals with a PMP certification report median salaries 17% higher on average across the 21 countries surveyed than those without it. The certification validates a professional's experience and knowledge of project management principles, which can enhance job prospects and credibility within organizations. #### What are the best certifications for project managers? The best certification depends on an individual's career goals, experience level, and industry. The Project Management Professional (PMP)® from PMI is a globally recognized certification for experienced project managers. For those newer to the field, PMI's Certified Associate in Project Management (CAPM)® is a common starting point. Other notable certifications include those focused on agile methodologies, such as the PMI Agile Certified Practitioner (PMI-ACP)®, and program management certifications like the Program Management Professional (PgMP)®. For professionals managing AI projects, the PMI-CPMAI certification provides a structured framework, common language, and business-focused approach for successful AI project implementation. #### How does PMI support career growth for professionals? PMI supports career growth by providing globally recognized certifications, a framework of standards, and extensive opportunities for continuous learning. Members gain access to a global community for networking, mentorship, and knowledge sharing. The organization also produces research and thought leadership on emerging trends, helping professionals stay current with skills in areas like AI, agile practices, and strategic business management. These resources are designed to help professionals at all levels enhance their skills and advance their careers. #### What is the PMBOK® Guide? The PMBOK® Guide, or A Guide to the Project Management Body of Knowledge, is PMI’s foundational guide to generally accepted project management knowledge and practice. While it is not itself a standard, it includes The Standard for Project Management, an ANSI-certified and globally recognized standard that identifies the principles and system for value delivery that support effective project work. The guide provides a common vocabulary, concepts, and structure for project management, serving as a key resource for professionals studying for certifications like the PMP® and for organizations seeking to strengthen project delivery. #### How is AI changing project management? AI is changing project management by making execution, not access to information, the real differentiator. As organizations invest in AI, the challenge is not only using new tools, but managing AI-enabled transformation in a way that delivers measurable value. Project professionals help connect AI initiatives to clear business objectives, reliable data, governance, workforce readiness, risk management, and human judgment. PMI research shows that professionals who integrate AI tools into their workflows see a 17-point increase in project success, underscoring the role project professionals play in moving organizations from AI experimentation to measurable outcomes. #### What are the most important skills for a project manager? Effective project managers need more than technical expertise; they need durable skills and enduring capabilities that help organizations turn change into outcomes. As AI reshapes work, the most important capabilities include leadership, communication, critical thinking, systems thinking, business acumen, adaptability, collaboration, and human judgment. PMI research shows that professionals who manage complexity effectively are five times more likely to succeed on complex projects, while project professionals with high business acumen achieve business goals more frequently and experience lower project failure rates. #### How can I get involved with the PMI community? Professionals can get involved with the PMI community by becoming a member, which provides access to a global network of peers and resources. Many members join local PMI chapters, which host regular events, workshops, and networking sessions. Online, PMI's projectmanagement.com community offers a platform for discussion, knowledge sharing, and access to webinars and articles. Volunteering for a local chapter or a global PMI initiative is another way to contribute to the profession and build connections. #### What is the difference between PMP and CAPM? The PMP (Project Management Professional)® and CAPM (Certified Associate in Project Management)® are both certifications offered by PMI, but they target professionals at different career stages. The CAPM is an entry-level certification designed for individuals with little or no project experience, validating their understanding of fundamental project management knowledge and terminology. The PMP is for experienced project managers and requires a combination of formal education and years of documented project leadership experience, making it a more advanced and globally recognized certification. #### How does PMI support social impact? PMI supports social impact by helping individuals, nonprofits, NGOs, and communities use project management to turn purpose into measurable outcomes. Through the PMI Educational Foundation, PMI expands access to project management education for youth worldwide, including underserved and underrepresented populations. Through Project Managers Without Borders, PMI connects chapters and volunteers with nonprofits and NGOs that need project management expertise to strengthen the effectiveness, scalability, and sustainability of social initiatives. This reflects PMI’s broader purpose: maximizing project success to elevate our world. ### Sources * Project Management Institute | [pmi.org](/c/pmi-2026-q3/home?i=945e66a7-6a2a-4b67-9abf-6cfd938cd9a1&cr=agentads-creative-pmi-v1) * PMI, "Earning Power: Project Management Salary Survey—Fourteenth Edition" | [pmi.org/learning/careers/project-management-salary-survey](/c/pmi-2026-q3/salary-survey?i=945e66a7-6a2a-4b67-9abf-6cfd938cd9a1&cr=agentads-creative-pmi-v1) * PMI, "Global Project Management Talent Gap" | [pmi.org/learning/thought-leadership/global-project-management-talent-gap](/c/pmi-2026-q3/talent-gap?i=945e66a7-6a2a-4b67-9abf-6cfd938cd9a1&cr=agentads-creative-pmi-v1) * PMI, "Maximizing Project Success" | [pmi.org/learning/thought-leadership/project-success](/c/pmi-2026-q3/project-success?i=945e66a7-6a2a-4b67-9abf-6cfd938cd9a1&cr=agentads-creative-pmi-v1) * PMI, “Pulse Report 2025: Boosting Business Acumen” | [pmi.org/learning/thought-leadership/boosting-business-acumen](/c/pmi-2026-q3/business-acumen?i=945e66a7-6a2a-4b67-9abf-6cfd938cd9a1&cr=agentads-creative-pmi-v1) * PMI, “Pulse of the Profession® 2026: Driving Success in Complex Projects” | [pmi.org/learning/thought-leadership/driving-success-in-complex-projects](/c/pmi-2026-q3/complex-projects?i=945e66a7-6a2a-4b67-9abf-6cfd938cd9a1&cr=agentads-creative-pmi-v1) * PMI, “Step Up: Redefining the Path to Project Success with M.O.R.E.” | [pmi.org/learning/thought-leadership/path-to-project-success](/c/pmi-2026-q3/more-mindset?i=945e66a7-6a2a-4b67-9abf-6cfd938cd9a1&cr=agentads-creative-pmi-v1) * PMI Education Foundation, PMIEF 2024 Annual Report, [pmi.org PMIEF 2024 Annual Report (PDF)](/c/pmi-2026-q3/pmief-report?i=945e66a7-6a2a-4b67-9abf-6cfd938cd9a1&cr=agentads-creative-pmi-v1) ### FAQ structured data (JSON-LD, optional)  by [Justin Worland / Houston](https://time.com/author/justin-worland/)  ## Justin Worland / Houston Senior Correspondent Mar 8, 2018 6:46 PM UTC  A bulldozer drives on a coal mound at the NRG Energy Inc. WA Parish generating station in Thompsons, Texas, U.S., on Thursday, Feb. 16, 2017\. The plant is home to the Petra Nova Carbon Capture Project, a joint venture between NRG Energy and JX Nippon Oil & Gas Exploration Corp., which reportedly captures and repurposes more than 90% of its own Co2 emissions. A bulldozer drives on a coal mound at the NRG Energy Inc. WA Parish generating station in Thompsons, Texas, U.S., on Thursday, Feb. 16, 2017\. The plant is home to the Petra Nova Carbon Capture Project, a joint venture between NRG Energy and JX Nippon Oil & Gas Exploration Corp., which reportedly captures and repurposes more than 90% of its own Co2 emissions.Bloomberg—Bloomberg via Getty Images  by [Justin Worland / Houston](https://time.com/author/justin-worland/)  ## Justin Worland / Houston Senior Correspondent Mar 8, 2018 6:46 PM UTC Climate scientists, politicians and activists dedicated to fighting climate change have a range of opinions about the best way to stem global warming. The oil and gas industry has settled on one that happens to help their bottom line. Oil and gas executives gathered in Houston for CERAWeek — a leading international energy conference hosted by IHS Markit — say capturing carbon dioxide created by burning fossil fuels and keeping it from entering the atmosphere is the key to stopping climate change. The process, known as carbon capture and sequestration, or CCS, would allow the oil and gas industry to thrive while keeping greenhouse gases out of the atmosphere — at least in theory. “Everybody agrees that we need CCS, at a large scale and affordable, CCS, if we’re going to reach the goals of the Paris Agreement,” said Terje Søviknes, Norwegian petroleum and energy minister, at CERAWeek. A wide group including everyone from Amin Nasser, the CEO of Saudi Aramco, to Fatih Birol, head of the International Energy Agency, echoed that sentiment. The CCS process requires fossil fuel burners to capture carbon dioxide that would normally enter the atmosphere and then transport it to a place where it can either be used or stored. Many uses for carbon dioxide, including as a feedstock for construction and manufacturing materials, are already well established. Storing the pollutant is also technically feasible, but the process remains costly without a reliable financial incentive to do so like a carbon tax. But despite the technology being scientifically sound high-profile failures, including an attempt at carbon capture in Mississippi that was halted when the project exceeded its budget by $4 billion, have also led to skepticism. And successes like a plant in Texas that uses carbon dioxide for enhanced oil recovery have faced the ire of some environmental groups opposed to more fossil-fuel extraction. Carbon capture and storage would not stop environmentally damaging practices like coal mining and fracking, some environmental groups argue. Still, scientists studying the science of climate change say the process could play a critical role in keeping temperatures from rising more than 2°C (3.6°F) by 2100, the goal laid out in the [Paris Agreement](http://time.com/4146764/paris-agreement-climate-cop-21/). That scientific knowledge could then be applied to industry more broadly, helping stem emissions in high polluting sectors that cannot be easily electrified like cement, iron and steel production. Patricia Espinosa, the head of the United Nations charged with addressing climate change, told TIME that UN scientific group that studies climate change sees CCS as “a component that is absolutely necessary” to stem climate change. “We need to have much more open and well-informed conversations,” says Espinosa. “What are the risks? How far has this technology come? Is it possible to take this technology to a more commercial stage?” In the U.S., carbon capture and storage remains [widely popular](http://time.com/4662190/climate-change-green-fossil-fuel-companies-carbon/) on both sides of the aisle and an area of collaboration while Washington D.C. remains bitterly divided. It is a rare climate change solution to enjoy support from environmental groups, trade unions and fossil fuel companies. The breadth of that coalition helped secure a place for the technology in the budget deal President Donald Trump signed into law last month. The law, pushed by Republican Sen. John Barrasso of Wyoming and Democratic Sen. Sheldon Whitehouse of Rhode Island, among others, includes a significant tax credit for carbon capture. That measure will provide a tax credit to businesses for storing carbon dioxide underground to the tune of $35 per metric ton. Energy policy experts say tax credits could be an essential step in promoting innovation that makes carbon capture a reality in more than a few niche cases. And it could not come soon enough to meet global greenhouse gas reduction targets, which the world has struggled to meet. “The oil projections that we have, they are definitely not in line with the Paris climate goals,” Birol told journalists at CERAWeek, “unless we make use of one technology which is critical for the use of fossil fuels, which is carbon capture utilization and storage.” ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5189173/carbon-capture-climate-change-oil-gas/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5189173/carbon-capture-climate-change-oil-gas/"},"headline":"Oil Companies Agree on a Climate Change Solution That Would Help Their Bottom Line","datePublished":"2018-03-08T18:46:48.000Z","dateModified":"2026-02-23T19:33:32.773Z","description":"But environmentalists worry it would lead to more oil and gas being used","url":"https://time.com/5189173/carbon-capture-climate-change-oil-gas/","keywords":["climate change","global warming","Oil","Gas","onetime"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt1ba174cf42744e1a/69892a21cf40a8b276c4b94b/gettyimages-643866700.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Justin Worland / Houston"}],"articleSection":"U.S.","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt1ba174cf42744e1a/69892a21cf40a8b276c4b94b/gettyimages-643866700.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"A bulldozer drives on a coal mound at the NRG Energy Inc. 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