In order to join the OGMP 2.0, companies sign a Memorandum of Understanding (MoU) with UNEP to formally express their adherence to the OGMP 2.0 Reporting Framework. There is no fee associated with joining the Partnership.
Companies that join the OGMP 2.0 commit to the OGMP 2.0 framework - the new gold standard reporting framework that improves the accuracy and transparency of methane emissions reporting 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, 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 2.0 so that significant methane emissions reductions are 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 2.0 Reporting Framework 2.0 will provide the public with the assurance that this important greenhouse gas is being managed responsibly. Companies that conform to this 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.
If your company is interested in joining the Partnership, please contact the OGMP 2.0 Project Manager Giulia Ferrini (email@example.com).