Cairn Becomes India’s First Oil & Gas Company to Join UNEP’s OGMP 2.0 for Methane Emission Reduction

Cairn Becomes India’s First Oil & Gas Company to Join UNEP’s OGMP 2.0

Cairn Oil & Gas, part of Vedanta Group and India’s leading private oil and gas exploration and production company, has made a significant stride in its commitment to environmental sustainability. The company has signed a Memorandum of Understanding (MoU) with United Nations Environment Programme’s (UNEP) flagship methane reporting and mitigation initiative – Oil & Gas Methane Partnership (OGMP) 2.0. This partnership, a first of its kind in India’s oil and gas industry, signifies Cairn’s dedication to effective reduction of methane emissions, further accelerating its efforts to decarbonize its operations.

OGMP 2.0, a comprehensive framework established to combat methane emissions, includes best practices for emissions management and a robust reporting system. It places a strong emphasis on accurate measurement, reporting, and verification (MRV) of methane emissions to drive reductions effectively. Under this MoU, Cairn will establish a 5-year methane reduction target and transparently report its progress to OGMP. This would enable Cairn to analyze its emission profiles and utilize the data to mitigate emissions cost-effectively. With this partnership, Cairn reaffirms its commitment to accelerate its efforts towards becoming Net Zero Carbon by 2030.OGMP 2.0 covers over 40% of global oil and gas production, empowering companies to improve the quality and accuracy of emissions data for effective methane reduction.

OMGP 2.0 provides companies with credible means and a science-backed framework to establish that they are progressing towards methane reduction targets, supporting the goals of the Paris Agreement and the Global Methane Pledge—a commitment by over 150 countries to reduce global methane emissions by 30% by 2030. By joining OGMP 2.0, Cairn has set a new benchmark in India’s oil and gas industry for methane transparency and actively contributes to the nation’s environmental objectives. This membership brings India’s first upstream oil and gas company into the initiative, doubling OGMP 2.0 coverage close to one-fourth of Indian oil and gas production. Cairn’s commitment has a global impact, inspiring hope and optimism for a sustainable future.

Earlier this year, Cairn announced the fast-tracking of its net zero commitments to 2030. This is a significant step in the company’s long-term strategy to become Net Zero Carbon by 2030, a commitment that is backed by a meticulous plan to explore new opportunities. Cairn’s unwavering commitment to this goal reinforces its dedication to environmental sustainability and its role as a leader in the oil and gas industry.

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