The Methane opportunity
With over 110 countries signing up to the Global Methane Pledge at COP26 it is evident that the methane opportunity has moved up the international climate agenda in recent years.
Methane dissipates faster than carbon dioxide (CO2) but is a much more powerful greenhouse gas during its short lifespan. Cutting methane emissions is the fastest opportunity we have to immediately slow the rate of global warming. One of the largest methane sources is the oil and gas industry.
The role of the Methane Guiding Principles
Established in 2017, the Methane Guiding Principles (www.methaneguidingprinicples.org) consists of 40+ member organisations from industry, international institutions, non-governmental organisations and academics. The aim of the Methane Guiding Principles (MGP) is to drive methane emissions reduction along the full natural gas supply chain. MGP has developed best practices materials such as a toolkit, methane policy framework, outreach programme masterclasses, the IEA’s methane regulatory roadmap and alongside its diverse membership it is uniquely placed to raise methane performance across the entire oil and gas industry.