 "Cairn Oil & Gas India's first firm to join UN's methane cut initiative")
Upstream oil major Cairn Oil & Gas has become the first oil producer in India to commit to effective reduction of methane emissions as part of its efforts towards becoming Net Zero Carbon by 2030.
Part of the Vedanta Group, Cairn has signed a Memorandum of Understanding (MoU) with the United Nations Environment Programme’s (UNEP) flagship methane reporting and mitigation initiative—the Oil & Gas Methane Partnership (OGMP) 2.0, the company said on Monday.
OGMP 2.0 has established a comprehensive framework that includes best practices for emissions management and a robust reporting system. It emphasises accurate measurement, reporting, and verification (MRV) of methane emissions to drive reductions effectively. Under the MoU, Cairn will establish a five-year methane reduction target and transparently report its progress to OGMP. This will enable Cairn to analyse its emission profiles and utilise the data to mitigate emissions cost-effectively.
The partnership covers over 40 per cent of global oil and gas production. “We are thrilled to welcome our first member from India and hope that 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," Giulia Ferrini, OGMP 2.0 Programme Manager, said.
Cairn's membership doubles OGMP 2.0 coverage to about one-fourth of India's domestic oil and gas production.
OGMP 2.0 provides companies with credible means and a science-backed framework to demonstrate progress towards methane reduction targets, supporting the goals of the Paris Agreement and the Global Methane Pledge—a commitment by over 150 countries to reduce global methane emissions by 30 per cent by 2030.
"Our multi-faceted environmental, social, and governance (ESG) strategy—spanning renewable energy integration, carbon capture utilisation and storage (CCUS), waste-to-energy projects adopting low-carbon technologies, and extensive nature-based carbon solutions—highlights the extent of our dedication to both the environment and India’s energy security,” Hitesh Vaid, chief financial officer, Cairn Oil & Gas, Vedanta Ltd, said.
Earlier this year, Cairn announced the fast-tracking of its net zero commitments to 2030. It has successfully reduced potential gas flaring volume by 60 per cent over the last four years.