Ipieca has become the first global oil and gas association to become a supporter of the OGCI hosted Aiming for Zero Methane Emissions Initiative.
About the initiative
The Aiming for Zero initiative establishes an all-in approach that treats methane emissions as seriously as the oil and gas industry already treats safety.
Signatories - who can be energy companies involved in exploration, extraction and/or production of oil, natural gas or other fossil fuels (excluding coal) - endorse the text of the initiative and strive to meet its aim of near zero methane emissions from their operated oil and gas assets by 2030.
Stakeholders beyond oil and gas producers, for example energy service companies, investor groups and business and trade associations, can participate as supporters of the initiative by:
- Endorsing the initiative
- Encouraging new signatories to join
- Where relevant, supporting signatories as they reduce their methane emissions
Methane is responsible for around 30% of global warming. Eliminating methane emissions from the oil and gas industry represents one of the best short-term opportunities for quickly mitigating climate change and is essential for achieving the goals of the Paris agreement.
OGCI's Executive Committee Chair Bjørn Otto said, 'We warmly welcome Ipieca's support for the Aiming for Zero Methane Emissions Initiative. Daring to aim for zero methane emissions is important. The support of Ipieca and its membership will be crucial as the energy industry strives to achieve zero methane emissions by 2030.'
Brian Sullivan, Ipieca Executive Director, said 'This initiative sends a strong signal of ambition on eliminating methane emissions to the industry and beyond. With members operating in over 180 countries and across the full value chain, Ipieca can play a key role in raising awareness and uptake of the Aiming for Zero initiative as well as provide the good practice guidance and tools to support the industry to reduce operational methane emissions.'