Methane is a dangerous, short-lived greenhouse gas and a powerful contributor to climate change with an impact on global temperature roughly 86 times that of carbon dioxide over a 20-year period. Methane from human sources is responsible for at least a quarter of today’s warming, a third of which is from fossil fuels.
Our Theory of Change
ICCR’s members have been engaging oil and gas companies since 2007 on the need to reduce methane emissions and for greater disclosure of methane management. In these engagements we have consistently raised the need for methane and VOC leak reduction and repair, as well as meaningful engagements by companies with community representatives, to address social and environmental impacts from industrial activity.
The Business Case for Action
By reducing methane emissions, companies in the oil and gas sector can achieve valuable greenhouse gas reductions while becoming cleaner and more competitive. Preventing methane leakage is a cost-effective way to generate additional revenue through the capture of lost product estimated to be worth $2 billion per year that also helps meet the Paris Climate Agreement’s GHG reduction goals.
Current Initiatives:
Through a combination of dialogue, and the filing shareholder resolutions, ICCR’s members are calling on 15 oil and gas and gas utility companies to measure and reduce their harmful methane emissions.
Our Impact
How ICCR is spurring methane emissions reduction in the oil & gas sector:
A considerable number of investor-owned oil & gas companies have shifted from opposition to methane regulations to a recognition of the importance of a regulatory floor, with many in the industry having issued public statements of support for regulations.
In addition to spurring support for federal and state methane regulations, investor engagement has also led to improved methane management, support for no routine flaring by 2025, and an increasing use of direct measurement to track and manage emissions.
It is now toxic for most investor-owned oil & gas companies to oppose methane regulations, and many in the industry have issued public statements of support for regulations.