ESG: AN EMERGING TREND
EQT Corporation has certified a majority of its natural gas production under both the EO100™ Standard for Responsible Energy Development, and the MiQ Methane Standard. EQT’s certified natural gas production is 4.5% of all U.S.-produced natural gas, making EQT the largest U.S. producer of both natural gas and certified natural gas. But they’re not alone, more and more operators are moving to certify their natural gas production, with recent movers including Chesapeake and ExonMobil.
EQT holds both certifications, and their certified natural gas is now available for trading on MiQ’s Digital Registry. The certifications provide a transparent, verified method for tracking EQT’s ESG commitments, including net zero Scope 1 and 2 greenhouse gas emissions and 65% reduction of methane emissions intensity by 2025.
NATURAL GAS: GREEN ENERGY
Equitable Origin certifies energy companies on ESG indicators in accordance with its EO100™ Standard for Responsible energy development, which is based on five principles.
- Corporate governance and ethics
- Social impacts, human rights, and community engagement
- Indigenous peoples’ rights
- Occupational health, safety, and fair labor standards
- Environmental impacts, biodiversity, and climate change
MiQ’s Methane Standard is an independent framework in which 3rd party auditors continually assess methane emissions intensity throughout operations and grade operators on efforts to remedy them. MiQ utilizes the Natural Gas Sustainability Initiative (NGSI) protocol to calculate methane intensity and requires the implementation of monitoring technology from source to facility to identify fugitive emissions.
OIL AND GAS: BEST PRACTICES AND DIFFERENTIATION
MiQ and Equitable Origin certification standards bring transparency to an opaque market, drive demand for certified natural gas, and help operators differentiate themselves through emissions mitigation and responsible energy production.
PREMIUM PRICES
The Digital Registry is a secure digital ledger where joint MiQ-EO100TM certificates are held from issuance to retirement. One certificate is issued per MMBtu of certified natural gas, and certificates can be traded, bundled with gas delivery, or unbundled, allowing market liquidity.
Certification promotes best practices and improvements in ESG performance and supports a global market for responsible energy with a premium price for differentiated production.
PURSUING CERTIFICATION
Certification, whether it be from MiQ, Equitable Origin, Project Canary, or any other reputable independent body is reliant on accurate monitoring and methane mitigation. Leaks at the well are one of the primary sources of fugitive emissions, leaking millions of tons of methane each year. Remediation options, including natural sealants like BioSqueeze®, are proven to alleviate sustained casing pressure and eliminate GHG leakage.
