4 November 2024 — Cairn Oil & Gas, part of the Vedanta Group, has become India’s first oil and gas company to join the United Nations Environment Programme’s (UNEP) Oil & Gas Methane Partnership (OGMP) 2.0. This milestone reinforces Cairn’s commitment to reducing methane emissions as part of its ambitious Net Zero by 2030 goals.
The OGMP 2.0, UNEP’s flagship program, provides a framework for methane reduction through accurate reporting and best practices. By signing this Memorandum of Understanding (MoU), Cairn pledges to set a five-year methane reduction target and regularly report its progress. This aligns Cairn with UNEP’s standards of Measurement, Reporting, and Verification (MRV) to ensure transparency and accountability.
Leading Methane Mitigation in India
As India’s largest private oil and gas exploration company, Cairn’s involvement brings significant momentum to OGMP 2.0, an initiative covering over 40% of global oil and gas production. Giulia Ferrini, OGMP 2.0 Programme Manager, welcomed Cairn as OGMP’s first Indian member, hoping it will inspire other companies in the country to join.
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Driving Industry Transformation
Hitesh Vaid, Cairn’s Chief Financial Officer, emphasized that this collaboration is integral to Cairn’s multi-faceted Environmental, Social, and Governance (ESG) strategy. Cairn’s efforts in renewable energy integration, carbon capture, and waste-to-energy projects reflect its dedication to sustainable energy.
“Our goal is not only to achieve Net Zero by 2030 but to lead a broader industry shift towards sustainable practices,” Vaid said.
This partnership is a key step for Cairn as it supports the Global Methane Pledge’s goals, aiming to cut methane emissions by 30% by 2030, in alignment with the Paris Agreement.
Progress Toward a Sustainable Future
Earlier this year, Cairn fast-tracked its Net Zero commitment to 2030. With initiatives like reducing gas flaring and adopting low-carbon technologies, Cairn is setting a high standard in India’s oil and gas sector.
