Sustainability in the oil and gas industry is associated with the advancement in environmental and social performance across the industry. Thus, the assessment of such advancement is currently being gauged by diverse metrics that may not conform to a standardize context across the industry. These sustainability metrics typically provide nonfinancial information that can later be translated by financial analysts (after applying corresponding assumptions) into commercial impact. Hence, the global metrics and policies that have defined competitiveness across nations are constantly changing as companies from all industries embrace innovation that makes them more competitive and differentiated.
Governments around the world have pledged action on addressing climate change. Industries that have an impact on the environment now are observed by both the government and the financial industry. Individual firms, particularly those belonging to the oil and gas sector, are now assessed for their environmental, social, and governance (ESG) performance and their impact on climate change.
Because of increasing external pressures from governments, stakeholders, and potential investors, a proper understanding of the relationship between sustainability innovation and a firm’s competitiveness is necessary because it can assist in the creation of operational strategies, leading to a firm’s self-preservation. Companies that invest early in sustainability innovation and products have the opportunity to develop a competitive advantage.
In order to meet different key performance indicators for corporate social responsibility and ESG, the planning, development, and operation of oil and gas infrastructure must be conducted in an environmentally responsible way. This requires an understanding of the potential air quality impact and greenhouse-gas budgets from emissions of organic pollutants and methane. Several studies have demonstrated discrepancies between bottom-up and top-down approaches, in which methane emissions are higher than estimates based on inventories using top-down methodologies. Hence, the use of remote sensing technology to accurately detect and quantify methane emissions is of the utmost relevance.
The objective of this paper is to discuss how methane detection of oil and gas infrastructure using remote sensing technologies enables operators to detect, quantify, and minimize the emissions while gaining insights and understanding of their operations via data analytics products. The remote sensing platforms discussed are satellite and aerial operating in tandem with data analytics to support sustainability initiatives and ESG metrics. This paper presents examples of measurements at oil and gas sites taken with GHGSat’s satellites and aircraft platforms, showing evidence of methane emissions. A discussion of each platform and how they work together is presented. In addition, this paper discusses how these data can be used to achieve sustainability goals and tools for ESG initiatives through analytical models.