Tim Eggar, chairman of the UK’s Oil and Gas Authority (OGA), sent shockwaves through the industry when he said growing public awareness about climate change was putting the sector’s very survival at stake.

Shifting public attitudes towards climate change is “the biggest challenge” facing the oil and gas industry, Eggar said in a speech to industry leaders this week.

“Clearly, climate change is happening right now. That debate is over,” he told industry delegates in Aberdeen, according to a transcript of his speech published on the OGA’s website, according to Euractiv.com.

The oil and gas industry must “act much, much faster and go farther in reducing the carbon footprint” he said, adding: “This requires ambitious thinking, capital investment and bold leadership. Action not just talk or more analysis.”

Failing to do so would have dire consequences for the oil and gas sector, Eggar warned, saying the industry’s very survival is at stake. “The licence to operate for the industry has changed fundamentally and – unlike the oil price – forever,” he said. “If the industry wants to survive and contribute to the energy transition it has to adapt,” he stressed.