GHG Emissions - January 24, 2022
Crestwood Equity Partners Sets GHG Goals
Crestwood Equity Partners LP announced its carbon management plan and next three-year sustainability strategy, including its goals to reduce GHG intensity and Scope 2 emissions.
The carbon management plan outlines near-term emissions reduction activities that the MLP midstream company intends to implement. Crestwood’s carbon management plan include a series of commitments:
- Annual GHG Intensity Reduction: Committed to year-over-year reduction in GHG emissions intensity from existing and newly acquired operations.
- Scope 2 Emissions Reductions: Continue to evaluate opportunities for Scope 2 GHG emissions reduction and manage the company’s operations’ energy efficiency.
- Acquisition Carbon Protocol: Committed to growing the company’s portfolio of gathering and processing assets while developing an Acquisition Carbon Protocol, setting out the process the company will follow to manage emissions with a growing portfolio, including a GHG emissions intensity reduction goal for each acquired location.
- Continuous Methane Emissions Monitoring: Continue to pilot several continuous methane monitoring devices at a subset of operating facilities with plans in 2023 to implement additional devices across the company’s entire operational footprint.
- Responsibly Sourced Gas (RSG): Dedicated to proactively participating in the development of RSG standards for the midstream sector with the goal of becoming certified in the near future.
- Investment in Emissions Data Collection: Committed to investing in the necessary technology for quantitative emissions calculations and data; striving to develop robust emissions inventories for Scope 1, 2, and 3 GHG emissions.
“Crestwood is proud to issue its first carbon management plan demonstrating our continued commitment to actionable emission intensity reductions, with a focus on mitigating climate-related risk to our business. This three-year plan highlights our leading MLP midstream approach to sustainability as we follow our authentic path of committing to year-over-year emission intensity reductions while seeking new opportunities to prudently grow our organization and incorporate those assets into our leading sustainability practices,” said Robert G. Phillips, CEO of Crestwood’s general partner, in a statement. “We believe that oil and natural gas will play a significant role in the future, but we also recognize that our industry needs to evolve in a lower-carbon future. Mitigating climate change means taking a pragmatic approach to what’s feasible today, and Crestwood is focused on promoting cost-effective, practical and realistic emissions reduction practices that deliver long-term value to our unitholders.”