Cairn Oil & Gas India’s first to join UNEP’s methane reduction program

06 Nov 2024 CW Team

Cairn Oil & Gas, part of Vedanta Group, has signed an MoU with the United Nations Environment Programme’s (UNEP) Oil & Gas Methane Partnership (OGMP) 2.0, making it the first Indian oil and gas producer to commit to methane reduction under UNEP’s program. This partnership aligns with Cairn’s decarbonization efforts as it progresses toward Net Zero Carbon by 2030.

Through the MoU, Cairn will implement a five-year methane reduction plan, with ongoing progress reporting to OGMP to enhance transparency in emissions management. “We are thrilled to welcome our first member from India,” said OGMP 2.0 Programme Manager Giulia Ferrini, adding that Cairn’s participation may encourage other Indian companies to improve methane reporting and management in the sector.

Cairn’s membership adds to OGMP 2.0’s coverage of over 40% of global oil and gas production. Hitesh Vaid, CFO, Cairn, highlighted the company’s commitment to methane reduction as part of its ESG strategy, which also focuses on India’s energy security. Earlier this year, Cairn accelerated its net zero timeline and reported a 60% reduction in gas flaring over four years. The OGMP 2.0 framework supports the Paris Agreement and Global Methane Pledge, aiming for a 30% global methane reduction by 2030. (ET)

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