- Honeywell (NASDAQ: HON) has announced an Emissions Control & Reduction Initiative designed for helping customers achieve carbon neutrality in a wide range of areas. These are the details.
Honeywell (NASDAQ: HON) has announced an Emissions Control & Reduction Initiative designed for helping customers achieve carbon neutrality in a wide range of areas. And the initiative will initially focus on helping oil and gas customers with upstream, midstream, and downstream operations to monitor and reduce fugitive methane emissions, which are over 25 times as potent as carbon dioxide at trapping heat in the atmosphere according to the Environmental Protection Agency (EPA).
By combining its portfolio of fixed, portable, and personal gas detection solutions with gas cloud imaging cameras, And Honeywell will provide customers with early detection of fugitive methane emissions, including the precise location of any leaks and associated data analytics and trends. Equipped with this data, users can act quickly to address leaks and other identified risks to minimize production losses and maintain compliance with legislation.
This solution – which combines wireless gas detector technology with enterprise-wide data management solutions – works in tandem with existing Leak Detection & Repair (LDAR) testing methods for improving the accuracy of reporting and increasing productivity by enabling users to find production losses faster.
Honeywell had recently announced a new set of commitments that further advance its sustainability goals beyond the company’s existing commitment to become carbon neutral in its facilities and operations by 2035. And the new pledges include a commitment to developing a science-based target with the Science Based Targets initiative (SBTi) that includes scope 3 emissions and participation in the U.S. Department of Energy’s Better Climate Challenge. These initiatives represent a continuation of the company’s sustainability efforts since 2004, which have already driven a more than 90% reduction in the greenhouse gas intensity of its operations and facilities. The company also supports the Paris Climate Agreement.
Honeywell’s methane detection capability will be available for customers in Q4 2022.
KEY QUOTE:
“The Emissions Control and Reduction Initiative expands on Honeywell’s wide range of ready-now technologies that are helping our customers meet their sustainability goals. With our pedigree in gas detection and breadth of solutions, Honeywell is providing customers with a holistic and proactive approach to emission reduction that they’ve never had before.”
– Ujjwal Kumar, president of Honeywell Process Solutions
