The framework sets out a series of steps: “Monitoring, Reporting and Verification (MRV) and GHG (Greenhouse Gas) Independent Framework” (42-page, 2.04 MB PDF). Report and verify your greenhouse gas emissions.
The framework is designed to create a transparent process for declaring GHG neutrality, and is a standardized cargo statement that lists emissions and gaps, according to a statement from the International Liquid Natural Gas Importers (GIIGNL).
The framework requires that methane emissions be identified and reported alongside the seven GHGs included in the Kyoto Protocol. Covers all GHG emissions sources, all GHGs, and all levels in the LNG value chain from safe to end use.
Renewable and climate change expert John Jeep, of Pentent Mason from O’Law Law Institute, said: It will no doubt be closely monitored after COP26. It is a fact that these economies almost always need a transition period. It helps to reduce dependence on coal and increase the use of LNG, and the LNG sector’s ability to demonstrate carbon neutrality further serves its purpose.
“There will be cost implications for carbon-neutral LNG, which may affect the feasibility of the projects in some developing countries, which is a matter of cost capacity. He said these countries need to accelerate carbon dioxide expenditure to offset their costs.
GIIGNL is a non-profit organization, including the purchase, import, processing, transportation, handling, refueling, and utilization of LNG-related services.