Woodside Energy Ltd has signed the Aiming for Zero Methane Emissions Initiative, making it the first Australian company to do so.
Signing the initiative stresses Woodside’s commitment to working towards near-zero methane emissions from its operating assets by the year 2030.
The initiative, which is led by the Oil and Gas Climate Initiative, aims to accelerate industrial response to climate issues.
In joining the initiative, Woodside aims to achieve its emissions reduction targets, whereby they have committed to reducing its net equity Scope 1 and 2 greenhouse gas emissions by 15% (2025) and 30% by 2030.
The main focuses of the initiative are striving to reach as close to zero methane emissions as possible, introducing means to avoid methane venting and flaring, reporting transparently annual methane emissions, welcoming the progression of measurement, reporting, and verification mechanisms, and supporting the implementation of sound regulations to tackle methane emissions and stress to governments the importance of including methane emissions reduction targets in their climate plans.
Woodside is not the only one to sign the initiative; Woodside joins other names such as bp, Chevron, Aramco, Petrobras, and Shell in the ambition of reducing methane emissions.
