, said the framework aims to standardize the way companies track emissions, including flared natural gas, and prompts them to voluntarily disclose those details publicly.
The framework comes on the heels of plans by the U.S. Securities and Exchange Commission to introduce new climate-mitigating rules as it steps up environmental, social and governance disclosures.The five sections of API's disclosure template include ones to log and disclose data on greenhouse gasses emitted directly from company assets, and emissions from the energy the companies use.
API's new guidelines exclude so-called Scope 3 emissions, which take into account greenhouse gas emissions from customers using the oil and gas they have purchased for transportation and other uses.
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