Tuesday, December 1, 2020

EU: UNO and EU institutions resolve measures against methane emissions

 European press service writes:

At the core of the effort is a comprehensive measurement-based methane-reporting framework that will make it easier for officials, investors and the public to accurately track and compare performance across companies in ways that have not been possible to this point.

As stipulated in the EU methane strategy, the European Commission is planning to elaborate a legislative proposal on compulsory measurement, reporting, and verification for all energy-related methane emissions, building on the OGMP 2.0 framework.  Crucially, the OGMP 2.0 includes not only a company’s own operations, but also the many joint ventures responsible for a substantial share of their production. 

The OGMP 2.0 framework applies to the full oil and gas value chain, not only upstream production, but also midstream transportation and downstream processing and refining – areas with substantial emissions potential that are often left out of reporting today. The goal is to enable the oil and gas industry to realize deep reductions in methane emissions over the next decade in a way that is transparent to civil society and governments. In order to support the realisation of global climate targets, OGMP 2.0 aims to deliver a 45 %  reduction in the industry’s methane emissions by 2025, and a 60-75 % reduction by 2030.

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