Yet, as the energy transition continues to gather pace, there is a growing risk that assets are transferred to companies which have lower operational standards and reduced financial ability to pay to. Where such transfers are in response to pressures to reduce emissions, they may actually result in higher emissions. Accordingly, we have developed a set of Responsible Exit Principles for Oil and Gas Companies for use by a range of stakeholders. They define a set of credible, widely recognised best practice standards governing the operation and eventual closure of such assets, by informing how sellers, buyers and their financial stakeholders can mitigate financial, environmental, governance and reputational risks related to such transfers.