Petrobras commits to reducing methane emissions

Brazil’s state-controlled oil company Petrobras has signed an agreement to join the Oil & Gas Methane Partnership 2.0, a global initiative coordinated by the United Nations Environment Program and the Climate and Clean Air Coalition. The OGMP seeks to enable the oil and gas industry to realize deep reductions in methane emissions over the next decade in a way that is transparent to civil society, governments and investors.

OGMP member companies commit to the OGMP 2.0 Framework, the only direct measurement-based reporting framework for methane emissions from the oil and gas sector. Companies set methane-reduction targets and report their progress against the framework.

In joining OGMP, Petrobras has committed to reducing methane emissions intensity by 55% across its upstream operations by 2025.

Methane, while shorter lived than carbon dioxide, is 80 times more potent over a 20-year period and accounts for over 30% of global temperature rise since the preindustrial era, according to a press release from Climate Action 100+. According to the Environmental Defense Fund (EDF), a key technical partner of the OGMP, the oil and gas industry, which is responsible for 25% of global human-made methane emissions, offers the most straightforward and affordable methane reduction opportunities.