Several major oil and gas producers around the world are working with the Rocky Mountain Institute to develop a digital platform to assist in tracking and reducing emissions. Shell, ExxonMobil and Chevron are among the industry leaders piloting this new digital platform, which will enable emissions data to be obtained from a number of different sources, as well as industry reports. The digital platform being utilized is called the Climate Action Engine (CAE).
Rocky Mountain Institute partnered with Spherical Analytics to develop CAE which is an emissions data platform that interconnects emissions data with oil and gas information such as location, ownership, and financial performance. The platform provides indisputable, real time knowledge to assist in making the reduction of emissions practical by using Business Intelligence.
Oil and gas operators will benefit from CAE’s data in the following manners: (1) assisting operators that have the largest potential reduction of methane emissions by ensuring emissions reduction initiatives are being prioritized; (2) tracing emissions reduction initiatives to ensure changes occur before and after implementation; (3) providing emissions reports that conform with various reporting guidelines; (4) providing users with options in exploring and identifying what-if scenarios (i.e. natural disasters, Act of God); and (5) determining compliance with new certification standards for low methane gas, and improving production to satisfy these standards.
CAE thus plays a pivotal role in the oil and gas industry’s efforts to reduce carbon emissions, a goal shared by regulators, buyers, investors, and the general public. For instance, implementation of this digital platform will assist operators in the pursuit of federal and state legislative incentives for the development of carbon capture and sequestration facilities, which are emerging nationwide and globally. (For more information on carbon capture and sequestration click here). Overall, CAE’s unique ability to provide insight on emission data and climate relevant information will assist oil and gas operators in meeting the stated benchmarks for greenhouse gas emissions. CAE data will assist in making more informed and educated decisions regarding emissions from oil and gas production. More information on CAE can be found at Rocky Mountain Institute, Climate Intelligence for the Oil & Gas Industry.
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