Oil and gas firms are committing to measuring and reducing their methane – but aren’t delivering on those promises.
That’s according to the UN Environment Programme (UNEP), which has stated that companies signed up to the Oil and Gas Methane Partnership (OGMP) are not on track with their data plans.
Since last year, 12 out of 60 companies that are part of the OGMP have failed in their methane reduction aims – or are not set to achieve them.
The numbers being committed to are not necessarily what’s being reported, UNEP claims.
In addition, the report highlights the unknown quantity of methane being emitted by all companies that are not OGMP members – as they have no obligation to report it.
The International Energy Agency estimates that global methane emissions sit at close to 85 million tonnes each year.
This is highly conflicting with the aims of the Paris Agreement, which the IPCC claims are only possible to hit if methane emissions drop by a third.
Inger Andersen, Executive Director of UNEP, said: “Looking at the bigger picture, the best way for the oil and gas industry to end methane emissions, and all emissions, is to rethink entirely their roles as energy companies.
“If the industry is serious about a net zero future – as it must be to provide a shot at health, wealth and prosperity for all – this must be the long-term goal.”