Italian services giant Saipem is the latest company to pledge its support for the OGCI-incubated Aiming for Zero Methane Emissions Initiative, which aims to eliminate methane emissions from signatories’ operations by 2030.
Aiming for Zero Methane Emissions Initiative recognizes that virtually all methane emissions from the industry can and should be avoided. It was developed by members of the OGCI, a CEO-led group that aims to speed up the industry’s response to climate change.
Aiming for Zero outlines a clear pathway toward rapid emissions reductions for signatories. But they cannot solve the methane problem on their own. That’s why the initiative is open to supporters who can help them to eliminate their methane footprint – and why the participation of companies such as Saipem is so important.
In 2021 oil and gas production was responsible for about 22% of global man-made methane emissions. IEA data show that methane emissions from the energy sector lagged overall growth in energy use last year, but they still grew by about 5%.
Methane, which leaves the atmosphere faster than carbon dioxide but packs a bigger warming punch, is responsible for 30% of the rise in global temperatures since the start of the Industrial Revolution, according to the International Energy Agency (IEA).
Saipem said in a statement, released today, that joining Aiming For Zero is also an important additional step in its path towards decarbonization.
Supporters like Saipem are key to the initiative – they can enable oil and gas producers to eliminate their methane footprint.
This initiative supplements important multi-stakeholder initiatives, such as the Methane Guiding Principles, the Oil and Gas Methane Partnership 2.0 and the Global Methane Alliance.