Cairn Oil & Gas first in India to join UNEP methane reduction initiative, ET EnergyWorld

New Delhi: Cairn Oil & Gas, a Vedanta Group company, has signed a Memorandum of Understanding (MoU) with the United Nations Environment Programme’s (UNEP) Oil & Gas Methane Partnership (OGMP) 2.0, marking India’s first commitment by an oil and gas producer to reduce methane emissions under UNEP’s flagship programme. The partnership aligns with Cairn’s goal to decarbonise operations, advancing towards Net Zero Carbon by 2030.

Under the MoU, Cairn will implement a five-year methane reduction target and report its progress to OGMP, establishing transparent data that supports emissions management. “We are thrilled to welcome our first member from India,” said Giulia Ferrini, OGMP 2.0 Programme Manager. “We hope Cairn’s commitment will inspire other companies from the country to join OGMP 2.0 and contribute to improving methane emissions reporting and management practices in the oil and gas sector.”

Cairn’s participation in OGMP 2.0 adds to the initiative’s coverage, which encompasses over 40% of global oil and gas production. Cairn’s Chief Financial Officer, Hitesh Vaid, noted, “We are excited to join UNEP’s OGMP 2.0 to set and achieve our methane reduction targets. Our multi-faceted ESG strategy…highlights the extent of our dedication towards both the environment and India’s energy security.” Vaid reiterated Cairn’s pledge to reduce methane emissions while aiming for Net Zero by 2030.

Earlier this year, Cairn announced its acceleration toward net zero, building on its achievements in reducing gas flaring volumes by 60% over four years and optimizing processes to minimize emissions. The OGMP 2.0 framework supports the goals of the Paris Agreement and Global Methane Pledge, which targets a 30% global methane reduction by 2030.

• Published On Nov 5, 2024 at 08:12 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETEnergyworld App

• Get Realtime updates
• Save your favourite articles

Scan to download App