API Guidance Document for GHG Reporting
API member companies value clear, concise, and comparable GHG reporting. API members are committed to transparency and recognize the importance of climate-related information for performance measurement. After a comprehensive review of existing reporting frameworks and deep engagement with member companies, we developed the API Guidance Document for GHG Reporting (“Guidance”), which is intended to offer consistency, comparability, and clarity of information.
Objective of API Climate-related Reporting Initiative
The objective of the Guidance is to drive consistency of voluntary reporting by individual natural gas and oil companies of a core set of company-wide GHG indicators. The Guidance has been developed to provide common definitions for a core set of GHG indicators to guide individual company reporting and to enhance comparability across company-by-company climate-related reporting. The Guidance contains the API Template for GHG Reporting (“API Template”), which can be found in the Annex A of the document, and can be downloaded in the spreadsheet form below. Reporting under this Guidance by individual companies is voluntary, and is intended for individual company use. API will not be aggregating data reported by individual companies or compiling individual company reporting. API will continue to evolve the Guidance while engaging with key stakeholders.
The API Guidance draws from existing natural gas and oil company reporting practices, builds on the industry’s own existing guidance for reporting, and takes into account relevant recommended GHG emissions reporting indicators from frameworks external to the oil and natural gas industry. The Guidance includes indicators for reporting GHG emissions on an absolute and an intensity basis, sections on GHG Mitigation, and Additional Climate-related Targets and Reporting that provide companies a way to demonstrate GHG emissions reduction activities.
The API Guidance and its Template also accommodate individual company reporting on both an Equity and an Operated basis, and individual companies may report on an Equity and/or Operated basis.
Key benefits of the Guidance:
- Enhances consistency and comparability across company-by-company climate-related reporting in the natural gas and oil industry.
- Enhances the industry’s ability to engage in policy making and in capital markets by providing a core set of relevant information to stakeholders.
- Works as a complement to other climate-related reporting frameworks and takes into account relevant GHG reporting indicators from these frameworks.
Individual Company Voluntary Use of the Guidance
Reporting to the API Template within the Guidance by individual companies is voluntary. It is also expected that individual companies, at their discretion, will continue to report additional GHG emissions and other climate-related indicators in order to meet the principle of completeness for a comprehensive and meaningful company inventory of GHG emissions. The Template offers a core set of GHG indicators that a natural gas and oil company would report, as relevant for those indicators that reflect the individual company’s business assets. Companies with a history of reporting, which is often advanced beyond this core set, will continue to report the wider set of GHG indicators that they have deemed appropriate.
API Compendium of GHG Emissions Methodologies
The API Compendium of GHG Emissions Methodologies for the Natural Gas and Oil Industry is the foundational reference used by companies and governments across the world as methodologies for reporting GHG emissions from natural gas and oil industry operations, including for the API Guidance Document for GHG Reporting. The fourth edition of the Compendium, released in November 2021, includes expanded methodologies for liquefied natural gas (LNG), as well as carbon capture, use and storage (CCUS).
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