Despite increasing international focus on climate change over the past decade, global greenhouse gases have risen to their highest levels ever. According to the 2021 UNEP-CCAC Global Methane Assessment, global methane emissions must be reduced by 40-45% by 2030 to reach the Paris Agreement goals in the most cost-effective manner. Methane emissions of this magnitude would reduce climate warming by 0.3 degrees Celsius by 2045.
The oil and gas sector is one of the largest man-made emission sources, responsible for about a quarter of global anthropogenic methane emissions. Fortunately, there are low-cost, technically feasible solutions to reduce methane emissions in the sector. The International Energy Agency estimates the industry can reduce its worldwide emissions by 75%—and that up to 40% of those reductions can be realised at zero net cost. Direct methane mitigation actions are urgently needed in the sector. According to Environment Defense Fund, six times more methane emissions reductions globally can be achieved by 2030 with targeted methane reduction measures as opposed to relying solely on decarbonization.
Transparency
The goal of IMEO’s transparency work is to provide accurate, un-biased and up-to-date information on methane emissions attributable to fossil fuel operations at different levels of aggregation.
IMEO has access to data reported by industry through the Oil and Gas Methane Partnership 2.0 (OGMP2.0) developed under the framework of UNEP-CCAC. Its 74 member companies already cover a third of the world’s production. Companies commit to move from using generic emission factors to empirical measurements and reconciling source and site level data in a defined timeframe, against announced performance targets. OGMP2.0 leverages the industry’s networked structure by including reporting on non-operated assets, extending its reach well beyond direct membership. For more information on OGMP, including on how to become a member, please visit: www.ogmpartnership.com
Science
The goal of IMEO’s scientific work is to close the knowledge gap in the location and magnitude of methane emissions along fossil fuel value chains through peer-reviewed studies and the reconciliation of measurement data.
IMEO commissions science studies that assess methane emissions from the fossil fuel industry, building upon the work launched by the CCAC Methane Science Studies. These studies will provide strong, publicly available data and improved methods for measurement and will allow governments, industry, and other stakeholders to prioritize policies and actions to reduce emissions of methane.
The program extends studies to South America, Asia and Africa, and the Middle East. Satellites hold the potential to be a game changer for methane emission reduction and IMEO has close partnerships with the satellite operators – but integrating their data with ground-based measurements and operational understanding will be essential to drive change.
Implementation
The goal of IMEO’s implementation work is to raise awareness and increase the capacity of governments to pursue science- based policy options to manage methane emissions from the fossil fuel sector.
The implementation work is built upon the Global Methane Alliance (GMA) that supports countries on the implementation of the insights generated from the OGMP and the MSS through their Nationally Determined Contributions (NDCs).
Recognizing the importance of the science-policy interface, IMEO will continue to ensure the governments are equipped with the most accurate scientific data and information to support methane mitigation strategies and policies. In response to requests from partner organisations and governments, IMEO will share best practices for science-based methane mitigation strategies in a nonprescriptive manner in order to maintain objectivity.
