Companies that join OGMP commit to the OGMP2.0 framework - the new gold standard reporting framework that will improve the reporting accuracy and transparency of anthropogenic methane emissions in the oil and gas sector.
The OGMP 2.0 reporting framework delivers against four key objectives:
- Provide governments and the public with assurance that industry member methane emissions are being managed responsibly, thus credibly for informing policy decisions.
- Provide member companies with a credible means to demonstrate that they are contributing to climate mitigation, making progress against declared targets and in line with the objectives of the CCAC MMI, as well as reinforcing the case for natural gas as an important fuel in the energy transition.
- Encourage improved methane reduction performance in reporting and methane emission reduction through transparency, flexibility, collaboration, and best practice sharing.
- Encouraging wider participation in the OGMP so significant sectorial methane emission reduction improvements in line with the MMI objectives can be realized by 2025/2030.
Key features of the OGMP 2.0 framework:
- Companies will report actual methane emissions figures from both operated and non-operated assets in line with their reporting boundaries
- Reporting will cover all segments of the oil and gas sector where material quantities of methane can be emitted
- The scope of reporting will cover all material sources of methane emissions
- Member companies will announce their own individual reduction targets and periodically report on progress towards these targets
- Five reporting levels are established, with the highest level requiring that emissions include source-level and site-level measurements. Companies have 3 years to achieve compliance for operated assets and 5 years for non-operated assets.
The OGMP Reporting Framework 2.0 will provide the public the assurance than this important greenhouse gas is being managed responsibly. Companies which conform to this gold standard of reporting will be provided with the means to credibly demonstrate that they are contributing to climate mitigation and delivering against their methane improvement objectives and targets, as relevant.
If your company is interested in joining the OGMP 2.0, please contact Manfredi Caltagirone (firstname.lastname@example.org) and Giulia Ferrini (email@example.com).