The International Gas Union (IGU) has taken an unprecedented step by sending an open letter to the greenhouse gas protocol, calling for attention and transparency regarding the role of renewable gases. Titled "Let Green Gas Count," this letter emphasizes the necessity of recognizing green gas as part of the global effort to accelerate carbon reduction in industries and companies.
The Need for Transformation in the Greenhouse Gas Protocol
In order to fully harness the potential of low-carbon green gas solutions, the greenhouse gas protocol needs to be updated to reflect the role of strong market instruments. This comes at a time when previous guidelines that ensured investment in renewable gas markets no longer exist.
Mark McCrery, IGU's Director of Strategy and Advocacy, stated that "the global gas industry is currently responding to carbon reduction challenges and is innovating and collaborating to develop low-carbon technologies, including renewable gaseous fuels. Creating appropriate market signals for investors is crucial for the large-scale implementation of these technologies."
IGU's Requests from the Greenhouse Gas Protocol
Therefore, IGU has made requests to the greenhouse gas protocol, which include the following:
- Authorize a market-based approach for renewable gases in the Scope 1 inventory for both fuel and feedstock applications.
- Issue a provisional statement in the first half of 2025 confirming that strong market instruments in the greenhouse gas inventory will be recognized, providing transparency and assurance for stakeholders.
Given recent developments, these requests seem to play a key role in the future of the renewable gas market and help grow investment in this area.
