The United States Environmental Protection Agency (EPA) recently proposed significant revisions to the greenhouse gas reporting requirements, particularly applicable to Subpart W, as reported by JD Supra. This comes as part of a broader move to expand the mandate of the Greenhouse Gas Reporting Program (GHGRP), initially launched by the EPA in 2009.
Originally, the GHGRP’s main objective was the collection and public reporting of greenhouse gas emissions data across a selection of industries. Designed to promote transparency and encourage a more sustainable industrial approach, the GHGRP is now experiencing changes due to directives from Congress through the Inflation Reduction Act of 2022 (IRA).
The IRA mandates an expansion of the GHGRP, particularly concerning the oil and natural gas sector generally referred to as Subpart W. According to the directives by Congress, the EPA is required to revise the program so that the reported data can be utilized in assessing a fee on “excess” methane emissions. The move aims to control and regulate emissions further, placing additional responsibilities on sectors identified as significant contributors to greenhouse gas emissions.
More detailed information about the proposed changes, their implications, and potential challenges for the affected industries are expected to emerge as the proposal goes through further consideration and public commentary. Given the significance of these changes, legal professionals in large corporations, particularly those within the oil and natural gas sector, should be prepared to navigate the evolving regulations surrounding greenhouse gas emissions.