|ALC carbon outcome||Furthering research and technology to advance low carbon|
N/a - research and technology
Methane is the primary component of natural gas, and, while short-lived in the atmosphere, it is understood to be much more potent as a warming agent, compared to carbon dioxide.
A concerted industry response is needed to increase focus on the reduction of methane emissions and BP was one of the first companies to sign up to a set of principles focused on reducing methane emissions across the natural gas value chain.
Developed in collaboration with industry peers, international institutions, non-governmental organizations and academics, the Methane Guiding Principles provide priority areas for action along the natural gas value chain, from production to the final consumer. They both complement and reinforce other industry initiatives, such as the Oil and Gas Climate Initiative and the Climate and Clean Air Coalition’s Oil and Gas Methane Partnership.
Each signatory is committed to undertake the principles and implement them by way of a defined action plan. A concerted industry response is needed to increase focus on the reduction of methane emissions. Therefore, signatories will encourage other companies to apply these principles.
The Guiding Principles are: