Nearly Three Years After COP28 Pledges, Oil and Gas Companies Report More Methane Data but Lag on Implementation Plans

• Oil and gas companies are improving methane reporting and implementation planning, but more work is needed to turn that progress into measurable emissions reductions. 
• Oil and Gas Decarbonization Charter (OGDC) signatories outperform non-signatories on average on transparency and implementation readiness, demonstrating the value of industry collaboration and the need to bring more producers into the effort. 

(Nov. 12, 2026) – Environmental Defense Fund (EDF) today highlighted findings from the second annual Pledges to Progress assessment showing that oil and gas companies are sharing more information about their methane emissions and making progress on implementation strategies, but many have yet to demonstrate how they will deliver on their methane commitments, according to the second annual Pledges to Progress assessment released today. The 113 companies assessed, which produce about 80% of the world's oil and gas, made gradual progress between 2023 and 2025, but their reported methane intensity edged up slightly from 0.15 to 0.16 over that period.  Changes in measurement and reporting practices, along with differences in the companies’ reporting, make it difficult to determine whether this reflects a change in actual emissions performance.  

The assessment, carried out by EDF in partnership with the International Energy Agency (IEA) and UNEP’s International Methane Emissions Observatory (IMEO), tracks what companies disclose about the targets, plans, spending and data needed to back up their methane pledges. It is the second annual report from an independent accountability effort the three organizations launched at COP28, and the first to show how companies have changed over time. Across the assessment’s 25 metrics, the average company score rose from 9 in 2023 to 10 based on the latest available reporting. These gains reflect improvements in transparency and implementation readiness, rather than demonstrated emissions reductions.  

Cutting methane is one of the fastest ways to slow warming, yet emissions from fossil fuel operations remain near record highs, according to the IEA. The agency estimates that cutting methane emissions from oil and gas operations could free up nearly 100 billion cubic meters (bcm) of gas a year, and eliminating non-emergency flaring could free up about another 100 bcm. 

Amid regulatory uncertainty in Washington and Brussels, the business case for action holds. Energy buyers increasingly expect credible, measurement-based emissions data from their suppliers, while investors are scrutinizing methane performance.  

"At a time when countries and companies are focused on energy security and affordability, cutting methane is one of the most cost-effective ways the oil and gas industry can reduce its emissions," said Mark Brownstein, Senior Vice President, Energy Transition, Environmental Defense Fund. "Reducing wasted natural gas strengthens energy security, improves operational efficiency and delivers significant climate benefits. Industry leaders are showing what’s possible. Now is the time to build on that progress, bring more producers into the effort and turn commitments into measurable reductions." 

Companies are laying important groundwork. More are pinpointing where their methane comes from, estimating how much they can cut, and reporting through UNEP's Oil and Gas Methane Partnership 2.0 (OGMP 2.0), the only comprehensive, measurement-based international framework for the sector. Yet few have published detailed plans setting out the projects, costs and timelines needed to meet their targets. 

The Oil and Gas Decarbonization Charter’s (OGDC) latest status report, released earlier this week, similarly highlights progress among signatories, including national oil companies, in developing emissions reduction plans, strengthening methane measurement and advancing implementation.  

That progress is reflected in the Pledges to Progress assessment: OGDC signatories averaged 13.3 out of 25, compared with 8.2 for non-signatories. The gap persists even when metrics tied to OGDC commitments are excluded (7.2 versus 5.1), reflecting stronger transparency and implementation readiness among participating companies. These findings highlight the value of industry initiatives and the opportunity to bring more producers into the effort. 

Investment disclosure remains the industry’s weakest area. Only one company meets the assessment’s criteria for disclosing methane abatement-specific spending, and few disclose forward-looking investment plans, making it difficult for investors to assess whether companies are backing their commitments with the resources needed to deliver results. 

Company reports also capture only part of the picture. World Bank satellite estimates indicate that the assessed companies flared about 87 bcm of gas in 2025, more than three times the volumes reflected in available company disclosures, which cover fewer companies and different reporting periods. Many companies do not publicly disclose flaring volumes, underscoring the importance of more comprehensive and comparable reporting.  

Some companies are showing what is possible. Petrobras, PETRONAS, PTTEP and QatarEnergy achieved OGMP 2.0 Gold Standard Reporting. ExxonMobil earned full credit for its OGMP 2.0 reporting and, along with ConocoPhillips and Equinor, has consistently earned full credit for detailed flaring reporting. ADNOC reports how much methane it actually cuts each year, ConocoPhillips publishes how it ranks methane projects by cost, and Saudi Aramco helped Bapco Energies build its methane reduction plan. 

Progress remains uneven across the industry. Nine companies received no credit across the assessment’s 25 metrics, while the 20 lowest-scoring companies improved by only half a point on average since 2023. While limited public disclosure does not necessarily mean companies are taking no action, the findings underscore the need to bring more producers into methane reduction efforts and expand the collaboration and technical support helping industry leaders move forward.  

The report calls on companies to move from pledges to proof by publishing detailed reduction plans, reporting methane spending separately, and basing their reporting on actual measurements. 

"For investors, a methane target without a plan and a budget behind it is just a promise," said Eric Christian Pedersen, Head of Responsible Investments, Nordea Asset Management. "We need companies to disclose what they are spending, what it is delivering and to publicly confirm their support for regulation to limit methane emissions. That is what we are asking for in our engagements and we use this information to assess which companies are serious about reducing their methane emissions." 

About the assessment 

Pledges to Progress evaluates how transparently oil and gas companies report the targets, strategies and data needed to deliver methane and flaring reductions, including the ambitions set out in the Oil and Gas Decarbonization Charter (OGDC). It is not an environmental performance ranking, its scores primarily reflect transparency and demonstrated implementation readiness, rather than emissions reductions achieved.  

The assessment covers a broad range of producers, not only OGDC signatories, and was developed cooperatively with companies and the OGDC Secretariat. 

The full report and company assessment are available here.