Recently, the Environmental Defense Fund (EDF) released a study entitled “Rising Risk: Improving Methane Disclosure in the Oil and Gas Industry” addressing the climate risks of methane emissions.
EDF emphasized that the impacts of methane emissions on the climate could considerably outweigh “the long-term prospects for natural gas to play a credible role in the transition to a clean energy global economy.” In its analysis, EDF observed that the main issue in efficiently managing fugitive methane emissions is the lack of methane emissions reporting by the oil and gas industry. According to their results, of the 65 companies analyzed, “zero companies disclose reduction targets” and “only 18 reported their methane emissions.”
As part of their recommendations, EDF proposed the integration of standardized metrics as performance indicators to help oil and gas companies in reaching accurate data reporting goals.
Written by Chloe Marie - Research Fellow