Recommendations

The case for robust operational emissions reductions, backed by transparent public disclosure, has never been stronger. While the latest assessment shows progress across much of the industry, important gaps remain between company commitments and the information disclosed to demonstrate implementation. Many companies have established targets for methane, flaring and operational emissions, but relatively few disclose the plans, investments and performance indicators needed to demonstrate delivery. Addressing these gaps would strengthen transparency, accountability and confidence that commitments are translating into measurable progress. Key priorities that would lead to some of the largest increases in scores include:

• Move from targets to implementation. Publish quantified emissions reduction pathways, including ongoing abatement projects and future opportunities, assessed emissions reductions, economic analyses and timelines, to demonstrate how methane, flaring and net zero commitments will be achieved.

• Improve transparency around decarbonisation investment. Disclose investment in methane abatement, operational emissions reductions and clean energy using clear and separate categories, supported by quantified forward-looking investment plans and timelines.

• Strengthen methane and flaring reporting. Progress towards measurement-based methane and flaring reporting, increase alignment with OGMP 2.0 Gold Standard methodologies, clearly disclose reporting boundaries, methodologies and flaring classifications, and provide sufficient information to enable comparison across companies and over time.

• Expand the scope of GHG emissions management beyond operated assets. Extend targets, disclosures and implementation strategies to non-operated assets and joint ventures where possible, while strengthening collaboration with partners to support emissions reductions across the wider portfolio.

• Ÿ  Strengthen governance and progress tracking. Support long-term ambitions with interim targets and regular progress reporting, and embed emissions reduction in business decisions by, for example, applying an internal carbon price to capital allocation across new and existing assets and linking executive, asset manager and employee remuneration to emissions reduction objectives.

• Embed key disclosures within company reporting. Report core methane, flaring and decarbonisation metrics directly in company sustainability and annual reports rather than relying primarily on external initiatives and reporting platforms.