IOGP members are committed to eliminating routine flaring in a collective effort on climate action, writes CEO Graham Henley.
“Great things in business are never done by one person; they’re done by a team of people.” – Steve Jobs.
Despite being front and centre of an iconic brand, Steve Jobs focused on the team’s achievements at Apple – and I couldn’t agree more. I believe that positive change doesn’t come from any single person, but from the collective action of many. It’s not a revolutionary idea, but it couldn’t be more relevant in the aftermath of COP28. And as the dust settles on the agreements achieved, it’s essential that we work together to deliver on our commitments and transform our industry.
Because the reality is that the energy transition is fearsomely complicated. And tackling the energy trilemma (energy affordability, security and sustainability) in equal measure – the challenge that underpins it – is essential, but won’t be easy. For it to work, we need to bring together technical expertise from across the globe.
Which is where IOGP comes in. We play a pivotal role in uniting a diverse group of 90 members from around the globe. This includes integrated energy companies, national oil companies, independent producers, and others. Together, we create a unique organisation that represents the interests of all types of operators, fostering collaboration and shared expertise. By sharing best practice from members across the industry, we’ve become one of the fastest routes from expertise to action in the oil and gas industry.
An example of this is the framework to share expertise to help companies reduce methane emissions and flaring in line with the Oil & Gas Decarbonization Charter (OGDC) ambitions announced at COP28. Again this isn’t something we’re doing alone; we’re working in partnership with Methane Guiding Principles (MGP), Oil and Gas Climate Initiative (OGCI) and Environmental Defense Fund (EDF) amongst others to deliver the framework.
Methane accounts for 25% of the global warming that we experience today. While the oil and gas industry isn’t the only emitter (for example, agriculture is estimated to produce 32% of human-caused methane emissions), we do need to work together to address fugitive emissions, and approaches to flaring. Our commitment to the OGDC is not our first foray into working on reducing methane emissions though. For the past three years, IOGP has been developing material helping its members to monitor, measure and reduce methane emissions and flaring.
Our experience has highlighted the incredible value and efficiency of industry collaboration. By uniting our efforts, we not only accelerate progress but also amplify our impact. We’ve successfully partnered with our members to establish best practices in safety, a testament to our collective dedication. Since 1985, we’ve been gathering safety performance data from our members, continuously improving and setting new benchmarks for excellence in our field. And since then, we have seen a 90% reduction in fatal accidents across the industry, helping make our sector a safer place for all. It is this kind of long lasting, tangible impact that I hope we can achieve by sharing our expertise across the industry.
Under the OGDC, our industry has made ambitious, but achievable, commitments to virtually eliminate methane emissions and end routine flaring by 2035. Through our collective efforts and unwavering commitment, I am confident that we can achieve this vital goal.
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