Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) (DEC) told investors it has been recognised with the ‘gold standard' award under the United Nation’s Oil & Gas Methane Partnership 2.0 (OGMP 2.0) under the ‘Ambitious Methane Reduction Plan’.
OGMP 2.0 is a voluntary and multi-stakeholder initiative co-sponsored by the United Nations Environment Program, Environmental Defense Fund, and the Climate and Clean Air Coalition, the company noted in a statement.
It is described as the only comprehensive, measurement-based reporting framework created to accurately and transparently report methane emissions for the oil and gas industry, DEC added.
The company meanwhile highlighted that the OGMP 2.0 recognises that DEC has demonstrated its commitment to set aggressive and achievable multi-year plans designed to accurately measure and significantly reduce methane emissions.
"We built our business on the premise of being responsible stewards of existing natural gas and oil assets, so we value the OGMP's recognition of our work,” said chief executive Rusty Hutson.
“Their confidence in our comprehensive initiatives and transparent reporting elevate the visibility of this important, integrated element of our business.
“The Gold Standard Pathway designation complements our already strong ESG actions, highlighting our commitment to transparency and validating the important work we're doing to responsibly produce natural gas while making methane leaks rare."
DEC is one of 80 companies to thus far be recognised under the OGMP 2.0, after it joined the scheme in May.