{"id":50199,"date":"2024-03-13T18:08:57","date_gmt":"2024-03-13T18:08:57","guid":{"rendered":"https:\/\/www.climatechangenews.com\/?p=50199"},"modified":"2024-03-15T10:56:31","modified_gmt":"2024-03-15T10:56:31","slug":"fossil-fuel-industry-under-pressure-to-cut-record-high-methane-emissions","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2024\/03\/13\/fossil-fuel-industry-under-pressure-to-cut-record-high-methane-emissions\/","title":{"rendered":"Fossil fuel industry under pressure to cut record-high methane emissions"},"content":{"rendered":"

Energy analysts have been singing the same tune ad nauseam: cutting climate-harming methane emissions from fossil fuels is one of the simplest and cheapest ways to slow the rate of global warming fast.<\/strong><\/p>\n

But oil, gas and coal producers are still closing their ears. In 2023, they continued spewing near record-high amounts of methane into the atmosphere, according to the latest assessment<\/a> by the International Energy Agency (IEA) released on Wednesday. That is despite a raft of promises<\/a> to stop doing so.<\/p>\n

Now, however, analysts believe the tide may finally be turning. The introduction of stronger regulations<\/a> in key fossil fuel-producing and consuming countries, coupled with better monitoring and transparency of harmful leaks, gives them cause for optimism.<\/p>\n

\u201cWhile emissions are still very high, 2024 is going to be a watershed moment on action and transparency on methane,\u201d said Christophe McGlade, head of the IEA\u2019s energy supply unit.<\/p>\n

Methane role in 1.5C goal<\/h3>\n

Methane is a major contributor to global warming. Although it remains in the atmosphere for a much\u00a0shorter time than carbon dioxide, it is 84 times more potent over a 20-year time horizon.<\/p>\n

The energy sector represents<\/a> the second-largest source of methane emissions linked to human activity, after agriculture, and has the biggest potential for reduction, according to analysts.<\/p>\n

\u201cIf we can\u2019t make real progress in cutting down methane, it is going to be impossible to limit warming to 1.5C,\u201d said McGlade, referring to the most ambitious warming goal in the Paris Agreement.<\/p>\n

The IEA estimates that the fossil fuel industry needs to reduce methane emissions 75% by 2030 for the world to reach net-zero greenhouse gas emissions\u00a0in 2050.<\/p>\n