Committing to the Methane Guiding Principles
We have arrived at a moment where the dual imperatives of the world — to decarbonize energy systems and continue to supply the energy needed to support global economic growth — are colliding with the operational realities of today’s carbon-rich energy systems. We at GTI are stepping up to meet this moment with an eye toward leveraging gases, fuels and infrastructure to transition to a low-cost, low-carbon future.
This transition demands ambitious, disruptive, innovative solutions that can be deployed at scale. Our success depends on the actions we take to embrace diversity of thought and develop collaborations across a spectrum of stakeholders. That is why GTI is proud to sign on as a supporting organization to the Methane Guiding Principles, a coalition of industry, international institutions, non-governmental organizations and academics, committed to paving a pathway to reduce methane across the natural gas supply chain.
Reducing methane emissions across the natural gas supply chain is imperative to energy systems transition. According to analysis from Carnegie Mellon University, the carbon intensity from the power sector in the United States was down more than 38 percent in 2019 compared to 2005, largely due to natural gas displacement of coal. This is good news! The bad news, however, is that methane leakage across the natural gas value chain threatens to diminish the climate gains from fuel switching because methane is 28–34 times as potent as carbon dioxide in its global warming strength over a 100-year time horizon.
We must reduce methane emissions to harness the real promise of natural gas as a source to deliver the clean energy needed to shepherd us through this transition.
In committing to the Methane Guiding Principles, GTI will support the host of progressive signatory companies, who have committed to all five principles:
1. Continually reduce methane emissions
2. Advance strong performance across gas value chains
3. Improve accuracy of methane emissions data
4. Advocate sound policy and regulations on methane emissions
5. Increase transparency
As a supporting organization, we lend our methane reduction expertise to assist those signatories with direct responsibility for the management of methane within their business — on a global basis. We do this because we know that cleaner systems are important to supporting human progress, which requires both environmental and climate protections as well as economic growth.
Harnessing the potential of collaboration and innovation, we can — and we will — meet this moment and make the transition to a low-cost, low-carbon future.
