Pioneer, Devon, and ConocoPhillips Join OGMP 2.0, Commit to Leading Methane Performance, and Increase Emissions Reporting Transparency
Pioneer Natural Resources Company, Devon Energy Corp., and ConocoPhillips have joined OGMP 2.0. The initiative aims to improve methane emissions reporting transparency and reduce emissions. The companies' membership in OGMP 2.0 shows their commitment to reducing methane emissions and meeting U.S. and global energy demand responsibly.
OGMP 2.0 has emerged as the global gold standard for measuring and reporting methane emissions. The initiative's reporting framework will reassure stakeholders that this critical greenhouse gas is being managed responsibly. As a result, participating companies will be able to credibly demonstrate that they are contributing to climate mitigation and meeting their methane improvement objectives and targets. Joining the partnership also represents member companies' commitment to encouraging improved methane reduction performance in reporting and methane emission reduction through transparency, flexibility, and best practise sharing.
“Reducing greenhouse gas emissions, including methane, is an important priority for ConocoPhillips, and we are pleased to join industry members and stakeholders to advance this important area of emissions management,”
said Ryan Lance, ConocoPhillips Chairman and Chief Executive Officer.
“We believe that applying the rigorous OGMP 2.0 reporting standard across our global assets will be a vital step on our path to net-zero operational emissions by mid-century.”
"Deployment of advanced methane detection technology and enhanced transparency are key components to Devon's broader emission reduction strategy, including our aim to achieve net zero GHG emissions for Scopes 1 and 2 by 2050,"
said Rick Muncrief, President and CEO, Devon Energy.
"We believe that collaboration and collective efforts are needed to advance meaningful change at a fast pace, and are excited to be joining OGMP 2.0 with our industry peers that share Devon's intention of delivering energy to the world while reducing our impact on the environment."
“Given that we operate in one of the largest oil producing basins in the world, enabling the reduction of methane emissions by utilizing accurate and transparent reporting is imperative for Pioneer as well as other large producers in the Permian Basin,”
said Scott Sheffield, CEO of Pioneer Natural Resources Company.
“We are excited to join OGMP 2.0 and collaborate with the United Nations Environment Programme, along with industry members and other stakeholders, on this important initiative to reduce methane emissions.”
“With Pioneer, Devon and ConocoPhillips joining OGMP 2.0, we have significantly increased the participation of U.S.-based companies,”
said Giulia Ferrini, OGMP 2.0 Manager at UNEP.
“We hope their membership encourages others to join this global effort aimed at improving methane emissions measurement and transparency, thereby supporting the goals of the Paris Agreement and the Global Methane Pledge.”
"We’re glad to see these companies take a leadership role in advancing methane measurement and disclosure,”
said Andrew Logan, Senior Director of oil and gas at Ceres.
“Oil and gas companies must be accountable for their methane emissions, which not only carry an outsized and avoidable climate impact, but also represent needlessly lost product, an obvious concern for any prudent shareholder. The Oil and Gas Methane Partnership 2.0 is a strong framework to advance both detection and accurate reporting, and it is important that we see other oil and gas companies follow ConocoPhillips, Devon, and Pioneer and join."
“All eyes today are on the oil and gas industry. Stakeholders are demanding real, robust emissions data that they can trust,”
said Mark Brownstein Senior Vice President for Energy at the non-profit Environmental Defense Fund.
“Cutting methane emissions is the simplest, fastest way to help meet our energy and climate goals, even as the world moves forward on long term decarbonization. Solutions exist for companies to cut emissions quickly and cost-effectively. OGMP provides a comprehensive and transparent framework to see and compare their results.”
The OGMP 2.0 Initiative is a voluntary public-private partnership between the UN Environment Programme, the European Commission, the Environmental Defense Fund, and more than 80 oil and gas companies aimed at reducing methane emissions from global oil and gas operations. Its efforts have aided in raising awareness of methane emissions and contributing to the growing importance of mitigation activities.
Source: businesswire
