This is the first 'Grade A' independently certified gas (ICG) designation that MiQ has presented to oil and natural gas operating assets in
'CRC is committed to meeting
MiQ is a global leader in the transparent certification of methane emissions data. To achieve MiQ's 'Grade A' certification, CRC earned high rankings in the three scoring categories: company practices, monitoring technology deployment, and methane intensity.
MiQ certification is conducted by accredited, third-party auditors, and assessed against the MiQ Standard to assign an A to F grade for methane emissions performance. The certification provides a verified approach to tracking CRC's efforts to reduce methane emissions across its assets and supports the company's 2045 Full-Scope Net Zero Goal.
'Reducing oil and gas methane emissions over the next six years is mission critical in the fight against climate change,' said Georges Tijbosch, MiQ Chief Executive Officer. 'MiQ is now certifying over 5% of the global gas supply, providing the market with independent, third-party audited data on methane emissions, and enabling buyers to choose lower methane natural gas. With a methane intensity of less than 0.05%, CRC is leading the way in the
CRC's independently certified operating assets include
In 2022, CRC updated its Methane Emissions Reduction Goal to further reduce methane emissions by 30% from the company's 2020 baseline by 2030. This goal builds upon CRC's previous methane reduction goal to lower methane emissions by 50% from our 2013 baseline by 2030. This goal was met in 2018, 12 years ahead of schedule. CRC's current methane goal significantly exceeds
About MiQ
MiQ is an independent not-for-profit established to facilitate a rapid reduction in methane emissions from the oil and gas sector. MiQ is the fastest growing and globally recognized methane emissions certification standard. Certification allows global society to credibly differentiate gas based on its methane emissions performance, providing a market mechanism that incentivizes methane reduction. MiQ's vision is to create a market where certified natural gas can be traded like other historical commodities, ultimately creating incentives to drive down methane emissions across the entire industry.
About
Forward Looking Statements
The information included herein contains forward looking statements within the meaning of federal securities laws and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. For a discussion of these risks and uncertainties, please refer to the 'Risk Factors' and 'Forward-Looking Statements' described in our Annual Report on Form 10-K for the year ended
All statements, other than statements of historical facts, included in this document that address activities, events or developments that we expect, believes or anticipates will or may occur in the future, are forward-looking statements. Words such as 'anticipate,' 'believe,' 'budget,' 'continue,' 'could,' 'estimate,' 'expect,' 'goal,' 'forecast,' 'intend,' 'likely,' 'may,' 'might,' 'plan,' 'potential,' 'project,' 'seek,' 'should,' 'target,' 'will' or 'would' and similar words that reflect the prospective nature of events or outcomes typically identify forward looking statements. In particular, forward-looking statements include, but are not limited to, the following: our strategic plans, priorities, outlook and expected performance; ESG and sustainability-related goals, strategies, priorities and initiatives, including, among others, those related to greenhouse gas emissions reduction (including our Full-Scope Net-Zero Goal for Scope 1, 2, and 3 GHG emissions by 2045), energy efficiency improvement, investment in renewable energy, water management, carbon management opportunities (including carbon capture and storage projects), biodiversity, diversity, equity and inclusion, supply chain sustainability, health and safety, human capital management, community engagement and cybersecurity; our plans to achieve our ESG and sustainability-related goals and to monitor and report our progress thereon; our ability to finalize definitive documents and reach a final investment decision with respect to the projects contemplated by a CDMA; stakeholder engagement, commitments and disclosure and other related items.
CRC cautions you not to place undue reliance on forward-looking statements contained in this document, which speak only as of the filing date, and CRC undertakes no obligation to update this information. This document may also contain information from third party sources. This data may involve a number of assumptions and limitations, and CRC has not independently verified them and do not warrant the accuracy or completeness of such third-party information.
Contact:
Tel: 818-661-6014
Email: Richard.Venn@crc.com
Tel: 818-661-3731
Email: Joanna.Park@crc.com
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