GTI Launches Veritas, an Initiative to Measure and Verify Companies’ Methane Emissions Reductions Veritas: a GTI Differentiated Gas Measurement and Verification Initiative Kicks Off New Collaboration with Industry and Environmental Partners

Today GTI launched Veritas: a GTI Differentiated Gas Measurement and Verification Initiative to accelerate actions that reduce methane leakage from natural gas systems. The effort brings together scientists, academics, environmental organizations, certification organizations, and industry participants to demonstrate emissions reductions in a consistent, credible, and transparent way. The initiative will develop accurate and verified methane emissions intensities and the necessary protocols to calculate measurement-informed methane emissions for natural gas systems.

“Looking out to mid-century, we anticipate continued robust demand for low-carbon gases. We also see lowering methane emissions as imperative for enabling the vital role that natural gas will serve in low-carbon energy systems. GTI and our partners are committed to accelerating actions that reduce methane leakages from every segment of natural gas systems. Establishing a measurement-informed and transparently-developed standard that all stakeholders can rely upon will increase confidence that those actions are reducing methane emissions—and channel energy into accelerating actions that are most effective,” said Dr. Paula Gant, SVP for Strategy & Innovation at GTI.

“We are developing protocols and methodologies that best-in-class companies can use to demonstrate methane emissions reductions. Market participants and observers desire a consistent approach to measuring and verifying emissions, and this initiative will enable credible, consistent methodology throughout the natural gas supply chain,” said Dr. Margaret Coleman, Veritas Executive Director and Director for Data & Digitalization at GTI.

Reducing methane emissions is a this-decade opportunity to slow the rate of global warming, and leading companies and organizations are hard at work on this opportunity. An array of new technologies and solutions are increasingly available, but the market lacks a consistent, credible, verifiable, and transparent methodology for assessing the effectiveness of those technologies and practices in reducing methane emissions. Veritas convenes diverse stakeholders to develop technical protocols and a widely accepted methodology to quantify methane emissions, including:

• The Methane Intensity Protocol, which will define methane intensities for each segment of the natural gas supply chain.
• The Measurement Protocol, which will describe how to take measurements to inform emission inventories, by segment.
• The Reconciliation Protocol, which will reconcile emissions factor inventory with actual measurements, by segment.
• The Supply Chain Summation Protocol, which will sum up multiple segments for a supply chain methane emissions intensity.
• The Audit and Assurance Protocol, which will provide guidance for verifying an emissions inventory and for third-party auditing.

The initiative’s sponsors, leaders, and supporters include Devon Energy, EQT Corporation, Ernst & Young LLP (EY US), Jonah Energy LLC, ONE Future, RMI, Sempra Energy, Southern Company, and Williams. Stakeholders ranging from eNGOs to leading energy companies bring a diversity of perspectives that, along with an open process, will result in a useful set of tools that can be widely used for applications, including certification standards, regulatory reporting, buyer transparency, and investor transparency.

Toby Rice, President and CEO of EQT Corporation, said: “We are excited to partner with GTI and the other project sponsors on this initiative. At EQT, we firmly believe that establishing a credible foundation for assessing and differentiating between hydrocarbons based on their emissions intensities is an important step to accelerate our path to a low carbon future. Veritas represents the unique collaboration of representatives across value chains with independent partners like GTI needed to establish this foundation, and we are looking forward to making progress on this initiative.”

“Climate is central to Sempra’s business strategy where we are working to advance climate-resilient energy systems to create a net-zero future for all. That is why we are pleased to be a founding sponsor in Veritas, GTI’s transparent and inclusive effort to develop a trustworthy, accurate, and verifiable methodology to measure methane emissions and accelerate actions that reduce methane leakage from the natural gas value chain,” added Sharon Tomkins, Vice President of Sustainability at Sempra.

“Today, more than ever, we need a strong, flexible, widely applicable protocol for equating methods of methane measurement and quantification. Veritas provides a critical, foundational piece of work in the effort to understand and reduce methane emissions from natural gas systems, which will be essential for voluntary, regulatory, and market-based performance standards across the board. We are excited to participate,” said Lara Owens, MiQ Program Manager at RMI.

“As a foundational sponsor for Veritas, Southern Company is looking forward to engaging on a standardized framework for measuring methane emissions, which supports our value chain approach to sustainability. This work builds on the efforts of Southern Company Gas in industry groups like ONE Future that drive methane emissions reductions across the natural gas supply chain, and Next Generation Natural Gas sustainable gas supply initiatives. We are committed to a shared vision for maximizing the climate benefits of natural gas by minimizing methane leakages from its systems,” said Bryan Batson, executive vice president, chief external and public affairs officer for Southern Company Gas.

“In an investment landscape that increasingly values ESG disclosures, a rigorous and transparent framework to measure methane emissions reductions is critical,” said David Lipschutz, partner, Ernst & Young LLP. “We are eager to collaborate with consortium members to advance these protocols for the industry.”

“At Devon Energy, we are intensely focused on reducing our carbon impact and providing energy the world needs. We have set aggressive targets to meaningfully reduce our methane emissions, and understand that we must be able to demonstrate progress in a way that’s both credible and verifiable. As a founding partner in this initiative, we are proud to be part of a team that is taking concrete steps to accomplish that goal,” said Garrett Jackson, Vice President of ESG and EHS at Devon Energy.

“With our current focus on ‘right here, right now’ opportunities to reduce emissions, Williams looks forward to collaborating with GTI on its Differentiated Gas Initiative as yet another way we can leverage our critical natural gas infrastructure in support of our customers and a clean energy future,” added Chad Zamarin, Senior Vice President, Corporate Strategic Development at Williams.

“ONE Future is excited to be a part of Project Veritas and this important initiative. We believe this is the next step that the industry must take as it moves toward the validation of methane emissions data. We are confident that the collaboration of industry, academia, and other key stakeholders will produce a tool that will standardize methane emission measurements and lead to increased accuracy of the data,” said Richard Hyde, Executive Director of ONE Future.

“AGA and its natural gas utility members are committed to reducing greenhouse gas emissions through smart innovation. We embrace this initiative to provide a scientific, transparent, and credible framework that can lead to accelerated methane emissions reductions from natural gas production through delivery,” said Richard Meyer, Vice President of Energy Markets, Analysis and Standards at the American Gas Association.

“The development of consistent, transparent, and comparable methane intensity metrics is essential for end users and other ESG stakeholders to ensure that the product is sustainably sourced,” said Richard F. McMahon, Jr., Senior Vice President of Energy Supply & Finance at the Edison Electric Institute.

To learn more about Veritas, watch the recorded GTI Tech Talk on the initiative, or visit the website at www.gti.energy/Veritas.