Petronas has coincided with the 29th United Nations Climate Change Conference (COP29) in a joint statement alongside Southeast Asia’s other leading energy companies calling for a progressive, cooperative and inclusive approach to methane emissions reduction in the region’s energy sector as part of a just energy transition which puts nature, people, lives and livelihoods at the heart of climate action.
The signatories comprise the Ministry of Mines and Energy Cambodia, PT Pertamina (Persero), Petronas, Myanma Oil and Gas Enterprise, Philippine National Oil Company, Singapore LNG Corporation Pte Ltd, PTT Public Company Limited, and the ASEAN Centre for Energy (ACE), are also members of the Association of Southeast Asian Nations (ASEAN) Council on Petroleum (ASCOPE).
Acknowledging the urgent need for sustainable climate action by 2030, the Southeast Asian leading energy companies plan to develop activities in support of the Paris Agreement goals, also recognizing that national circumstances require tailored approaches.
Besides, they proactively advocate for a just and inclusive energy transition through meaningful dialogues, that align with the climate aspirations set by governments to drive targeted, tangible, properly accounted, and scalable emissions reduction that considers the broader impacts of the energy transition.
They also will cooperate across the Southeast Asian energy value chain to champion innovative solutions on methane emissions management, as well as strengthening measurement, monitoring, reporting, verification and mitigation measures, wherever possible.
Herein, they aim to establish a Southeast Asian oil and gas sector methane emissions baseline, as early as 2025, informed by internationally recognized practices, to be followed by a quantifiable collective methane emissions reduction ambition by 2030.
Moreover, they aim to share practices and the region’s progress on decarbonization and methane emissions through ASCOPE.
In addition to committing to these actions, the signatories also encouraged peers from across the broader Southeast Asian energy ecosystem to join their efforts to drive industry leadership and position the region as a progressive methane emissions reduction leader.
