Nearly 90 Countries Join Pact to Slash Methane Emisions

Kate Abnett, Valerie Volcovici and Ilze Filks
Tuesday, November 2, 2021

Nearly 90 countries have joined a U.S.- and EU-led effort to slash emissions of the potent greenhouse gas methane 30% by 2030 from 2020 levels, a pact aimed at tackling one of the main causes of climate change, a senior Biden administration official said.

The partnership will be formally launched later on Tuesday.

Methane is the main greenhouse gas after carbon dioxide. It has a higher heat-trapping potential than CO2 but breaks down in the atmosphere faster - meaning that cutting methane emissions can have a rapid impact on reining in global warming.

The Global Methane Pledge, which was first announced in September, now includes half of the top 30 methane emitters accounting for two-thirds of the global economy, according to the Biden administration official.

Among the new signatories that will be announced on Tuesday is Brazil - one of the world's five biggest emitters of methane.

China, Russia and India, also top-five methane emitters, have not signed on to the pledge. Those countries were all included on a list identified as targets to join the pledge, previously reported by Reuters.

Since it was first announced in September with a handful of signatories, the United States and European Union have worked to get the world's biggest methane emitters to join the partnership.

There were roughly 60 countries signed up only last week, after a final diplomatic push from the United States and EU ahead of the COP26 summit.

While it is not part of the formal U.N. negotiations, the methane pledge could rank among the most significant outcomes from the COP26 conference, given its potential impact in holding off disastrous climate change.

A U.N. report in May said steep cuts in methane emissions this decade could avoid nearly 0.3 degree Celsius of global warming by the 2040s. Failing to tackle methane, however, would push out of reach the Paris Agreement's aim to limit global temperature rise to 1.5 C above preindustrial levels and avoid the worst impacts of climate change.

The 30% methane cut would be jointly achieved by the signatories, and cover all sectors. Key sources of methane emissions include leaky oil and gas infrastructure, old coal mines, agriculture and landfill sites.

If fulfilled, the pledge is likely to have the biggest impact on the energy sector, since analysts say fixing leaky oil and gas infrastructure is the fastest and cheapest way to curb methane emissions.

The United States is the world's biggest oil and gas producer, while the EU is the biggest importer of gas.

The United States is due to release oil and gas methane regulations this week. The EU and Canada both plan to unveil methane legislation addressing the energy sector later this year.

(Reporting by Kate Abnett in Brussels, Valerie Volcovici in Washington and Ilze Filks in Glasgow Editing by Matthew Lewis)


Categories: Energy Industry News Emissions Activity Methane

Related Stories

EnQuest Enters Malaysia with Cendramas Production Sharing Deal

Big Oil to Reap Billions from Energy Price Surge

Asian Buyers Rush for Russian Oil Amid Supply Disruption

Mubadala Energy Secures Southwest Andaman Exploration Block off Indonesia

Arabian Drilling Flags Temporary Offshore Rig Suspensions in Persian Gulf

Iran to UN: 'Non-Hostile' Ships Can Transit Strait of Hormuz

Oil Falls on Middle East Ceasefire Hopes, Easing Supply Fears

Oil Executives Flag Long-Term Impact of Iran Conflict

Qatar LNG Exports Cut 17% After Missile Strikes, $20B Revenue Loss Expected

Eni Advances Angola Gas Project, Secures $9B Credit Facility

Current News

Oil Hikes 7% after Trump Says US-Israel will Keep Striking Iran

Iran Assures Safe Hormuz Transit for Philippine Vessels

EnQuest Enters Malaysia with Cendramas Production Sharing Deal

Bahrain Push for Hormuz Shipping Resolution Hits Hurdles at UN

Energean Warns Prolonged Conflict May Delay $1B Gas Project

Iran War Reshapes Global LNG Trade

Drone Strike on Kuwaiti Oil Tanker off Dubai Signals Further Escalation in Gulf

INPEX Extends Pertamina LNG Pact, Signs Upstream MoU in Southeast Asia

Chiyoda, NYK, KNCC Target Global CCS Value Chain Development

PV Drilling Names New ‘Super Rig’ ahead of April Operations

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com