In our first year, we certified 2.5% of the global gas market. Our aim is to get to 100% within the next decade.
We know that the transition to a world powered by clean energy will take time. Until then, we need to act fast on avoidable emissions.
Our philosophy focuses on driving climate action: creating incentives for the drastic reduction of methane emissions across the oil and gas sector, by delivering a thriving market for certified natural gas.
An urgent problem
Methane is 84x as potent in climate terms as CO2 over a 20-year timeframe, so by reducing the volumes emitted we can make a big impact quickly. Not only that, but the oil and gas sector is responsible for 84million tonnes of methane annually. This equates to:
- 8x the aviation sector’s global CO2 emissions each year;
- All the CO2 emissions from the world’s cars and trucks;
- Double Europe’s total CO2 emissions; and
- 140% of the US’ annual CO2 emissions.
The Global Methane Pledge – agreed to by over 100 countries at COP26 – is a collective effort to reduce global methane emissions by at least 30% from 2020 levels by 2030. It’s an important call to action that puts methane abatement front and centre of global efforts to combat climate change. MiQ can help support its objective.
We think it’s time to do more.
To tackle methane emissions, companies need a granular understanding of where these are coming from, as well as robust methane mitigation practices and technology to enable them to actually address the issue.
That’s where MiQ comes in.
MiQ has developed a global solution for a global issue, grading gas on methane emissions to drive change in parallel with regulation through a not-for-profit and independently audited certification standard.
Because differentiating producers based on their methane emissions performance will incentivise businesses to improve because it simply makes good climate – and business – sense.
Working towards a cleaner energy future
In April 2021, President Biden gave the opening remarks at the Leaders Summit on Climate and in his speech said:
“Scientists tell us that this is the decisive decade – this is the decade we must make decisions that will avoid the worst consequences of the climate crisis.”
The transition to a 100% renewable energy future needs to be accelerated, but as the world makes the clean energy transition, oil and gas will remain part of energy infrastructure for some time. Its crucial that in the meantime, oil and gas is as clean as possible.
Methane emissions are the ‘low hanging fruit’ in delivering this. All across the supply chain, steps can be taken to reduce the leakage of methane into the atmosphere.
MiQ Certification supports these efforts by creating transparency on methane emissions performance, giving the market the granularity it needs to improve.