The Aiming for Zero Methane Emissions Initiative is gaining momentum, with companies from across industry pledging to work towards achieving near-zero methane emissions from operated oil and gas assets by 2030.
Key to the initiative’s success will be its supporters – organizations that will enable oil and gas producers to eliminate their methane footprint. Like the producers, the initiative’s supporters recognize that the time for incremental change is past.
Alongside the 15 signatories of the initiative, 17 companies have signed up as supporters. These include energy technology giant Baker Hughes, Australian-American engineering company Worley and industry association IPIECA are three of the initiative’s supporters, doing all they can to help the oil and gas industry achieve the near-zero methane emissions goal.
Other supporters include those monitoring and detecting emissions such as GHGSat,
OG Tech, Flare 2 Value and Pipeline 360; those developing new equipment and technologies to prevent leaks and utilize methane, such as Qnergy, Seek Ops, Clarke Valve, Highwood Emissions Management and Maze Environmental; consultancies including Wood Mackenzie Carbon Limits and ERM; and non-governmental organizations such as Equitable Origin. The Oil and Gas Climate Initiative (OGCI) is also a supporter.
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).
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%.
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 Baker Hughes and Worley is so important.
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.
