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Molecules May 2022: Project Canary: game-changing emissions tracking

The invasion of Ukraine has forced Europe to profoundly reconsider its energy mix. Staying on track with decarbonisation goals despite the security of supply challenges is an absolute must. Thanks to what we like to call the measurement economy, next-gen certified responsibly sourced gas from the US is now emerging as an immediate solution for Europe and a key player in the transition to a low carbon future.

Introducing the measurement economy
As any business professional will say, “you can’t manage what you don’t measure.” To curb emissions, companies need to have actionable data, which empowers them to plan, refine and measure success against ESG commitments. In large industries that are under the microscope more than others, the need for accurate, timely data is paramount. As public attention is increasingly focused on companies’ environmental impact, estimates just don’t cut it.

At Project Canary, we have spent the last four years working to provide US oil and gas companies with the emissions data innovation they need to reduce their emissions and push the environmental performance bar higher. We are proud of the accuracy and granularity of the data we can provide companies with from our continuous monitoring technology that feeds a real-time software as a service (SaaS) dashboard that tracks and models emission profiles at the facility level. In fact, our sensor array can detect methane down to <0.1 grams per second. This level of reliability is a game-changer for molecule tracking and has been a catalyst for the emergence of certified responsibly sourced gas, helping US gas companies ensure their operations comply with ESG targets and commitments.

Indeed, the measurement economy has equipped US gas producers with the tools and insights to validate green credentials and legitimately counter greenwashing claims. It’s clear that real standards are solidifying. Stateside, the Environmental Defence Fund has already raised the bar, announcing the five criteria required for differentiated gas. Best-in-class certification, down-to-the-minute emissions measurement and quantification (not estimates), third party verification and continued progress are all core parts of Project Canary’s certification standards.

The combination of pad-level ESG data with granular accuracy and real-time insights has sparked a cultural shift within the US gas sector that will help make certified responsibly sourced gas from the US thrive as a solution that can safeguard our climate, lifestyles, and European countries’ energy security.

Project Canary crosses the Atlantic
Europe has held the global leadership position in ESG and climate mitigation. The European Commission’s ambitious climate goals, such as its intermediate target of an at least 55% net reduction in greenhouse gas emissions by 2030, are helping create a race to the top. This desire to be on the vanguard of the fight against climate change resonates deeply with us, and it’s why we are delighted to announce that we will be increasing our collaboration with Eurogas and European gas companies to help increase the distribution and production of responsibly sourced gas.

We have already started to work in the UK and look forward to expanding our operations there. In continental Europe, energy giants such as France’s ENGIE are already using our TrustWell™ by Project Canary responsibly sourced gas assessment and certification process to ensure their entire natural gas value chain has achieved low emissions targets.  As we share core values with Eurogas, such as accelerating the transition to carbon neutrality through optimizing the use of gas, we are natural partners and are excited to be expanding our cooperation.

Every challenge is an opportunity. Certified Responsibly Sourced Gas is a nascent industry, but one with tremendous potential to provide energy security for European countries, maintain our way of life, and accelerate the low carbon transition. With our precise molecule tracking, we can provide gas companies with the actionable data to slash emissions, prove their ESG promises, and achieve high calibre, responsibly sourced gas standards. We believe the momentum in Europe is building, and certified LNG will become a requirement for all cargoes. In a recent report, Prof Durwood Zaelke, the president of the Institute for Governance and Sustainable Development, called on European governments to mandate that any gas imported to replace Russian gas should come from sources with low rates of methane leaks. “This is the fastest and most promising way to protect the planet while we decarbonise,” he explained.  By substituting Russian gas with Project Canary Responsibly Sourced Gas, European policymakers, energy companies, and citizens can flip the bird to emissions.

Project Canary