Science & Technology

Oil & Gas Industry Commits to New Tracking and Disclosure System to Monitor, Report and Reduce Methane Emissions

The brand new Oil and Gas Methane Partnership framework creates a gold commonplace that can enhance the accuracy and transparency of the sector’s anthropogenic methane emissions.

Governments, UN, civil society, corporations collaborate on sturdy new monitoring and disclosure system.

In a transfer that can assist sort out one of many largest and most solvable contributors to the local weather disaster, main gamers within the oil and fuel trade agreed as we speak to report methane emissions with a brand new, a lot increased degree of transparency.

“To win the race to web zero emissions, we want everybody on board. We’d like formidable motion from the oil and fuel trade. UNEP is dedicated to supporting efforts that scale back methane emissions, and we acknowledge the management of corporations which have joined such an formidable methane reporting framework,” mentioned Inger Andersen, Govt Director of UNEP. “We glance ahead to seeing actions that flip commitments into precise emissions discount.”

Methane launched instantly into the environment is a extremely potent greenhouse fuel, with greater than 80 occasions the warming energy of carbon dioxide over a 20-year interval. Actions to lower methane emissions can yield a near-term discount within the fee of warming, complementing efforts to decarbonize the world’s vitality and transport methods whereas additionally delivering air high quality advantages.

Kadri Simson, EU Power Commissioner, mentioned “I’m very pleased to see the vitality trade taking quick motion on methane emissions. A transparent dedication to measure and monitor emissions is a vital first step for considerably lowering them and I’m pleased with what we’ve got achieved collectively. Right now’s signature is the primary deliverable below the Fee’s latest methane technique. There are lots of extra steps to take to lower emissions alongside your entire worth chain and I hope to work carefully with all — European and worldwide — companions to attain this purpose.”

The Oil and Gas Methane Partnership (OGMP) is a Local weather and Clear Air Coalition (CCAC) initiative led by the UN Surroundings Programme (UNEP), the European Fee (EC), and the Environmental Protection Fund (EDF). Already 62 corporations, with property on 5 continents representing 30 % of the world’s oil and fuel manufacturing, have joined the partnership. The brand new OGMP2.0 framework is the brand new gold commonplace reporting framework that can enhance the reporting accuracy and transparency of anthropogenic methane emissions within the oil and fuel sector.

“Thanks to the 62 corporations for committing to measure, report and scale back air pollution from their core operations and joint ventures. This would be the foundation for sturdy requirements in Europe, and past, that make sure the oil trade takes the sensible actions urgently wanted for our local weather,” mentioned Fred Krupp, President of the Environmental Protection Fund.

On the core of the trouble is a complete measurement-based methane-reporting framework that can make it simpler for officers, buyers and the general public to precisely observe and examine efficiency throughout corporations in ways in which haven’t been potential to this level.

As stipulated within the EU methane technique, the European Fee is planning to elaborate a legislative proposal on obligatory measurement, reporting, and verification for all energy-related methane emissions, constructing on the OGMP 2.0 framework

Crucially, the OGMP 2.0 consists of not solely an organization’s personal operations, but in addition the various joint ventures chargeable for a considerable share of their manufacturing. The OGMP 2.0 framework applies to the complete oil and fuel worth chain, not solely upstream manufacturing, but in addition midstream transportation and downstream processing and refining — areas with substantial emissions potential which are typically omitted of reporting as we speak.

The purpose is to allow the oil and fuel trade to understand deep reductions in methane emissions over the subsequent decade in a approach that’s clear to civil society and governments.

So as to assist the belief of world local weather targets, OGMP 2.0 goals to ship a forty five % discount within the trade’s methane emissions by 2025, and a 60-75 % discount by 2030.

“Decreasing methane emissions is a vital effort within the trade’s decarbonization pathway. As an element on which we are able to have a direct and concrete constructive affect, OGMP 2.0 presents an internationally acknowledged blueprint to corporations throughout our trade prepared to make enhancements of their emission reductions in all phases of the worth chain. We glance ahead to proceed working with all companions concerned, as solely via collaboration with worldwide organizations, civil society and governments we are able to ship on our frequent targets,” mentioned Claudio Descalzi, Chief Govt Officer of ENI.

In accordance to the Worldwide Power Company (IEA), roughly three-quarters of methane emissions could possibly be lowered with the know-how that exists as we speak, and shut to half at zero web price. Decreasing methane emissions from the vitality sector by 90% would shave two tenths of a level Celsius from the forecasted rise within the planet’s common temperature by 2050.

Decreasing fossil methane emissions by 75 % can forestall up to 6 gigatonnes of carbon dioxide equal emissions yearly — nearly ten % of the planet’s 2019 greenhouse fuel emissions, together with land-use change.

UNEP and the European Fee are additionally finalizing plans to arrange an unbiased Worldwide Methane Emissions Observatory (IMEO). IMEO will combination and analyze a number of methane emissions knowledge streams, together with knowledge reported by OGMP member corporations, to speed up reductions in methane emissions globally. By helping trade and governments globally in addressing uncertainty associated to reported emissions, the Observatory will enhance the consistency and credibility of methane emissions knowledge and speed up mitigation actions.

The OGMP, launched on the UN Local weather Summit in 2014, was created by the Local weather and Clear Air Coalition (CCAC) as a voluntary initiative to assist corporations scale back methane emissions within the oil and fuel sector. Managed by UNEP, OGMP is the one multi-stakeholder partnership engaged on methane emissions reporting and supplies a protocol to assist corporations systematically handle their methane emissions from oil and fuel operations and presents a reputable platform to assist member corporations display precise reductions to trade stakeholders.

UNEP is the main international voice on the atmosphere. It supplies management and encourages partnership in caring for the atmosphere by inspiring, informing and enabling nations and peoples to enhance their high quality of life with out compromising that of future generations.

The European Fee is the EU’s politically unbiased government arm, chargeable for drawing up proposals for European laws, and its additional implementation. Moreover, to managing EU insurance policies and allocating EU funding, the Fee defends the European Union’s pursuits by representing it internationally. The European Inexperienced Deal is the cornerstone of the European Fee’s ambition for Europe to turn into the primary climate-neutral continent. Subsequently, local weather and vitality goals play an vital function in shaping the Fee policy-making.

One of many world’s main worldwide nonprofit organizations, Environmental Protection Fund (edf.org) creates transformational options to probably the most severe environmental issues. To take action, EDF hyperlinks science, economics, regulation, and modern private-sector partnerships. With greater than 2.5 million members and places of work in the US, China, Mexico, Indonesia and the European Union, EDF’s scientists, economists, attorneys and coverage specialists are working in 28 nations to flip our options into motion.

CCAC is the one international partnership of governments, intergovernmental organizations, companies, scientific establishments and civil society dedicated to enhancing air high quality and defending the local weather by lowering short-lived local weather pollution — methane, black carbon, hydrofluorocarbons and tropospheric ozone. It runs 11 initiatives throughout key emitting sectors and acts as a catalyst to create, share and implement options that quickly scale back the speed of warming, enhance folks’s lives, and ensures sustainable improvement for future generations.

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