Turning pledges into progress: an accountability framework for reducing emissions from the oil and gas industry

The IEA-IMEO-EDF initiative aims to support real emissions reductions from the oil and gas industry, examine how the OGDC goals relate to broader efforts to limit climate change, and improve understanding of companies’ progress towards the goals they have set. It will provide estimates and data to assess progress and examine industry efforts to monitor emissions, deliver methane emissions cuts and achieve broader energy transition goals. This will draw on existing measurement-based transparency initiatives as well as new measurement systems, including the MethaneSAT and Carbon Mapper Tanager satellites. As the first product of the joint initiative, this report expands the framework for accountability. It provides an overview of why it is critical that the oil and gas industry urgently tackles methane emissions and flaring globally and how the OGDC can advance reductions in greenhouse gas emissions. The framework reflects commitments made by the industry and specifies a set of detailed metrics around planning, execution and disclosure. The initiative plans to publish its first full assessment in 2025.