Shale gas drillers can now trade credits for curbing emissions of one of the most potent agents of global warming. Methane emissions of just 0.1% or less during natural gas production will earn explorers Methane Performance Certificates under an an electronic credits system launched by Xpansiv and S&P Global Platts.

The first MPC will be transferred between Pacific Canbriam Energy and industrial gas customer Skeena Bioenergy Ltd, a manufacturer of wood pellets. On Oct. 15, Platts assessed MPCs at $6.29 per metric ton of CO2 equivalent.