Cutting methane emissions is the fastest way to tackle climate change in the short-term, as it remains in the atmosphere for far fewer years than carbon dioxide. It is for this reason that many nations have joined a global pledge to cut 30 per cent off methane emissions by 2030. This second report of UNEP’s International Methane Emissions Observatory (IMEO) looks at the essential role the fossil fuel industry must play in taking immediate and strong action on methane to meet this goal. As a core implementing partner of the Global Methane Pledge, IMEO provides decision makers with a framework to take ambitious, targeted actions that can be tracked and reported. This report highlights how IMEO has become a blueprint for transparency in methane reporting through the Oil and Gas Methane Partnership 2.0. This partnership is a platform for collective action amongst its 80+ member companies as they evolve new industry norms on methane measurements and – more critically – measures to cut emissions.