Cairn Oil & Gas Joins UNEP's OGMP 2.0: A Step Towards Methane Reduction
| Summary/Static | Details |
|---|---|
| Why in the news? | Cairn Oil & Gas, a part of Vedanta Group, has become the first oil and gas producer in India to join the United Nations Environment Programme's (UNEP) Oil & Gas Methane Partnership (OGMP) 2.0. |
| Key Points | * Cairn has signed an MoU with UNEP's flagship methane reporting and mitigation initiative, OGMP 2.0. * Cairn is the first oil and gas company in India to join this global initiative. |
| About OGMP 2.0 | * Offers a robust framework for emissions management and a reporting system emphasizing Measurement, Reporting, and Verification (MRV) of methane emissions. * Covers over 40% of global oil and gas production. |
| Commitments of Cairn | * 5-Year Methane Reduction Target: Cairn will set a 5-year target for methane reduction. * Net Zero Carbon Goal by 2030: Aligns with its commitment to becoming Net Zero Carbon by 2030. * Use of data for emission analysis and reduction to support targeted strategies. |
| Global Implications | * Supports the Global Methane Pledge and Paris Agreement. * The Global Methane Pledge aims to reduce methane emissions by 30% by 2030. |
| UNEP | Established on 5th June 1972. |
| UNEP HQ | Nairobi, Kenya |