INDIA, 2 May, 2024 – Honeywell (NASDAQ: HON) reinforced its commitment to helping customers reduce greenhouse gases in hard to abate industries such as oil and gas production and hydrocarbon dependent industries by hosting a regional workshop on methane reduction.
Senior representatives of governments and oil and gas industries from seven Asian countries, as well as the U.S. Department of State attended the event at Honeywell’s regional headquarters in Kuala Lumpur. The reduction of methane emissions is one of the most cost-effective and impactful methods to help reach global climate and environmental goals, according to the International Energy Agency.
Honeywell’s Emissions Management Solution (EMS) offers customers in the industrial sectors an array of sustainability technologies that will support their emission reduction goals and their compliance with regulatory standards. It features a combination of innovative, hazard area certified wireless gas leak detection technology, automated data collection systems, and software to quickly identify methane leaks. By integrating a holistic and proactive solution that provides actionable insights and drives emission reduction strategies, customers will be able to produce accurate, auditable and near real-time time reports of their total methane emissions across their infrastructure within Asia.
Honeywell has partnered with their customers in the Oil & Gas industry as well as the U.S. government in their international efforts to promote methane abatement across the world and are a key contributor to the book: Methane Abatement for Oil and Gas: – Handbook for Policymakers. The open-access, plain language handbook was issued by the Office of Commercial Law Development Program (CLDP) of the US Department of State, Bureau of Energy Resources, and it is intended to help policymakers on reducing methane from oil and gas operations.
“Honeywell is a trusted partner that helps organizations solve the world’s toughest and most complex challenges, with actionable solutions for industrial automation, the future of aviation, and the energy transition,” said Robert Kester, PhD, Chief Technology Officer, Emissions, Honeywell Process Solutions. “It’s an honor for us to work with multiple stakeholders and use our proven technologies and experience to help companies throughout Asia with methane-intensive operations be better positioned to meet their sustainability goals.”
“Unprecedented collaboration is needed between the private and public sectors to work together to reduce methane emissions,” said YC Lim, Honeywell president for Malaysia and Singapore. “Operators are facing market changes that require sustainable solutions to accelerate lower greenhouse gases while maintaining profitability and yield. Employing a reputable partner that can provide the technology, software and outcome-based services is critical to meeting those goals.”
Honeywell is committed to achieving carbon neutrality in its operations and facilities by 2035 and recently announced a new set of commitments that further advance its sustainability goals, including committing to set a science-based target with the Science Based Targets initiative (SBTi) that will include scope 3 emissions and participation in the U.S. Department of Energy’s Better Climate Challenge. The company also supports the Paris Climate Agreement. These efforts build on the company’s track record of sharply reducing the greenhouse gas intensity of its operations and facilities as well as its decades-long history of innovation to help its customers meet their environmental and social goals. In 2021, approximately 60 percent of Honeywell’s new product introduction research and development investment was directed toward products that improve environmental and social outcomes for customers.
