ONE Future uses science-based technology and methods to reduce emissions across the entire natural gas supply chain. Our member companies have a long, successful history in finding, producing, processing, transporting, and delivering natural gas to residential and industrial consumers across the United States
Natural gas is primarily composed of methane, a clean fuel that emits few air pollutants when burned in stove tops, in power plants to generate electricity, or to power vehicle engines. However, when methane is emitted directly into the atmosphere (and not burned), it is a potent greenhouse gas. By reducing methane emissions across the natural gas supply chain, ONE Future companies will deliver more value to our customers, while also meaningfully reducing our greenhouse gas emissions.
Traditional Policies, Diminishing Returns.
Historically, regulatory agencies have approached environmental problems with a prescriptive approach that mandates the adoption of specific technologies, practices or procedures for all facilities or operations of a certain type. The focus is not on the outcome, but rather the process. Not only is it costly with diminishing returns over time, but it also stifles the adoption of new innovations.
Flexible. Performance-Based. Measurable results
ONE Future’s members begin with a focus on the outcome we want to achieve. In the case of methane emissions, our desired outcome is to continue to lower the average rate of emissions across all facilities, while growing our number of member companies. We intend to maintain the competitiveness and sustainability of natural gas while increasing output, even in a low carbon economy.
With one goal in mind, each member company has the flexibility to deploy their capital where it will be maximally effective in reducing emissions. For one company that may be deploying an innovative technology, for another modifying a work practice, or another retiring an asset. To demonstrate credible and measurable results, ONE Future companies agree to measure their emissions and track their progress over time according to uniform, EPA-approved reporting protocols. This is effective, because most studies demonstrate that the majority of methane emissions come from a small fraction of sources. Our approach allows companies to focus their resources on identifying and addressing those sources.
Target: Optimal Performance
To achieve ONE Future’s collective targets, we have identified sectoral performance targets for each of the four major industry sectors (Exploration & Production; Gathering & Processing; Transmission & Storage, and Distribution & Retail) that would cumulatively add up to our overall one percent goal. ONE Future has worked to set these performance targets in rough proportion to each industry sectors’ respective share of current emissions, considering reduction potentials given current regulatory barriers. These sectoral targets serve both to benchmark company progress toward their goals, but also to facilitate comparisons amongst diverse companies as each strives for optimal performance.