The Impact of Latest GWP Updates on GHG Emissions Reporting: An Oil and Gas Sector Case
What is GWP: GWP stands for global warming potential. Greenhouse gases don’t have an equal effect, and each has its unique properties and atmospheric lifetime. For reporting purposes, all GHG gases are converted to CO2 equivalence using the GWP factors. The government of Canada defines the GWP factors as “The Global Warming Potential (GWP) metric examines each greenhouse gas’s ability to trap heat in the atmosphere compared to carbon dioxide (CO2). We measure this over a specified time horizon.” [1].New changes & reporting:Every few years the government reviews the GWP factors and updates them based on new data available. Oil and gas companies are obligated t...
