Building a Voluntary Near-Zero Intensity Methane Marketplace
About this report
At the 30th United Nations Climate Change Conference (COP30), 11 countries signed the Statement on Drastically Reducing Methane Emissions in the Global Fossil Fuel Sector, which recognises that demand for low-intensity fuels can drive down emissions and calls for work to be initiated towards the development of a near-zero intensity methane marketplace (NZIMM). Statement signatories have tasked the IEA with assessing the practical elements needed to establish a well-functioning NZIMM.
Based on extensive consultations conducted throughout 2026, this report sets out the IEA’s proposed framework to assess, compare and verify upstream methane performance of crude oil and natural gas. The IEA’s proposed framework is based on two letter grades that reflect an asset’s methane intensity and the accuracy and reliability of the operator’s quantified emissions. At the request of Statement signatories, the report also outlines policies that governments could implement to support the development of the NZIMM, covering both the demand and supply sides.
Future work to operationalise the marketplace is proposed to examine how verified performance can be linked to marketed volumes and how performance can be integrated into commercial transactions and pricing structures.