Methane emissions initiative

Aiming for Zero

aiming for zero

A mindset shift on methane emissions

Following COP26 and the recent call for further action to achieve a worldwide reduction of 30% of methane emissions from all sources by 2030, the time has come to go further. We believe that the oil and gas industry can and should lead this effort to rethink how we approach methane emissions.

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.

Initiated by OGCI, the aim is to have as many oil and gas companies participate as possible. Collectively, the industry can make a big difference.

Our Approach

The signatories of the Aiming for Zero Methane Emissions Initiative believe that virtually all methane emissions from the industry can and should be avoided.

There are five key focus areas for action in this initiative:

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Aim

Minimize

Report

Monitor & Measure

Advocate

We will strive to reach near zero methane emissions from our operated oil and gas assets by 2030, and we will encourage our partners to achieve similar results.

We will put in place all reasonable means to avoid methane venting and flaring, and to repair detected leaks, while preserving the safety of people and the integrity of operations.

Signatories will report annually and transparently on their methane emissions.

As technology evolves, we will supplement methane emissions estimates with more monitoring and measurement technologies, and introduce new solutions to avoid methane emissions. We welcome the continued improvement of measurement, reporting and verification (MRV) mechanisms.

We support the implementation of sound regulations to tackle methane emissions and encourage governments to include methane emissions reduction targets as part of their climate strategies.

Why Aiming for Zero is needed

Methane is responsible for around 30% of global warming. Reducing methane emissions from oil and gas operations represents one of the best short-term opportunities to advance the goals of the Paris Agreement.