Cairn becomes India’s 1st oil & gas company to join UNEP’s OGMP 2.0

08 Nov 2024 CW Team

Cairn Oil & Gas, part of Vedanta Group, has become the first oil and gas producer in India to sign a memorandum of understanding (MoU) with the United Nations Environment Programme's flagship methane reporting and mitigation initiative, Oil & Gas Methane Partnership (OGMP) 2.0. This commitment marks Cairn’s dedication to reducing methane emissions in line with global sustainability goals.

OGMP 2.0 provides a comprehensive framework for managing methane emissions, focusing on accurate measurement, reporting, and verification (MRV) to drive effective reductions. Under the MoU, Cairn will establish a five-year methane reduction target and transparently report its progress to OGMP, aiming to mitigate emissions cost-effectively while working towards a Net Zero Carbon goal by 2030.

OGMP 2.0 covers over 40% of global oil and gas production, helping companies enhance the quality and accuracy of emissions data. Giulia Ferrini, Programme Manager at OGMP 2.0, welcomed Cairn's participation, hoping it would inspire more companies in India to join and contribute to improving methane emissions reporting and management.

This partnership supports global initiatives like the Paris Agreement and the Global Methane Pledge, which aims to reduce methane emissions by 30% by 2030. Hitesh Vaid, CFO of Cairn Oil & Gas, emphasized the company’s broader ESG strategy, including renewable energy integration, carbon capture, and nature-based carbon solutions. With this commitment, Cairn is pushing for an industry-wide transformation towards responsible, sustainable energy practices.

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