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Cairn Oil & Gas, a Vedanta Group company, has become India’s first oil and gas producer to join the United Nations Environment Programme’s Oil & Gas Methane Partnership (OGMP) 2.0, signing a memorandum of understanding on Monday, in Abu Dhabi.
The shares of Vedanta Limited were trading at ₹455.65 down by ₹11.70 or 2.50 per cent on the NSE today at 11.50 am.
The partnership requires Cairn to set a five-year methane reduction target and report progress transparently, supporting its commitment to achieve net-zero carbon emissions by 2030. The move brings approximately one-fourth of India’s oil and gas production under OGMP 2.0 oversight.
OGMP 2.0, UNEP’s flagship methane reporting and mitigation program, currently covers over 40 per cent of global oil and gas production. The framework provides measurement, reporting, and verification protocols for methane emissions management.
Cairn has already demonstrated progress in emissions reduction, having cut potential gas flaring volume by 60 per cent over the past four years. The company operates across Rajasthan, Andhra Pradesh, Gujarat, and Assam, with interests in 62 blocks covering 60,000 square kilometres.
The initiative aligns with the Global Methane Pledge, an international commitment by over 150 countries to reduce global methane emissions by 30 per cent by 2030, supporting the Paris Agreement’s goals.
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