Cutting Methane Emissions by 80% in the Next 15 Year

The United States has launched a significant initiative to combat methane emissions, aligning with other nations at the Cop28 summit to tackle this potent contributor to the climate crisis. At the summit in Dubai, hosted by the UN, the US unveiled new regulations aimed at slashing methane emissions from its extensive oil and gas industry by an estimated 80% by 2038, amounting to a reduction of 58 million tonnes.

This pivotal rule stands as the cornerstone of a series of global efforts to curb methane, a greenhouse gas much more potent than carbon dioxide despite its shorter lifespan in the atmosphere. Accounting for about a third of the planet's warming, methane emissions demand urgent attention, with the US among the world's largest contributors.

Michael Regan, administrator of the US Environmental Protection Agency, highlighted the critical role of steep methane reductions in combating climate change. The regulations are projected to mitigate the equivalent of 1.5 billion metric tonnes of carbon dioxide, a figure nearly matching the pollution from the entire US power sector or 28 million fossil fuel-powered cars over the next 15 years. The mandate necessitates oil and gas companies to seal leaks in existing facilities, halt routine gas flaring from wells, and enhance monitoring to curb methane leakage.

Regan emphasized the historic significance of these regulations, labeling it as exemplary global climate leadership. At Cop28, efforts to address methane emissions received a boost with $1 billion in funding raised by countries, businesses, and donors. Additionally, countries like Angola, Kenya, Romania, Kazakhstan, and Turkmenistan pledged to join the global methane reduction initiative, aiming for a 30% reduction in methane emissions by 2030, a pledge supported by over 150 nations.

Turkmenistan's inclusion in this commitment holds particular significance, following revelations about its substantial methane emissions earlier. John Kerry, the US's climate envoy, highlighted the previous neglect of methane and other potent climate pollutants, emphasizing that action against methane presents the easiest, quickest, and most cost-effective path to combat global warming.

While progress in reducing methane has been mixed, recent data revealed that some countries have successfully cut emissions. However, challenges persist, notably with Australia showing progress while emissions in the US are on the rise. Increased scrutiny aided by satellite imaging has identified major methane emitters globally, with the UN's methane alert and response system operational, swiftly detecting and notifying operators of methane plumes for prompt rectification.

This intensified focus on methane emerged amidst a bustling day at Cop28, featuring world leaders' speeches and significant developments. Pope Francis, absent due to bronchitis, conveyed a powerful message urging environmental stewardship as a duty to preserve life and the future.

Further strides at Cop28 included the US joining a coalition committing to abstain from building new coal plants, Colombia becoming the 10th country and a notable oil producer to endorse a fossil fuel non-proliferation treaty, and over 100 nations signaling support for a fossil fuel phase-out within the Cop28 agreement.

The imperative for the oil and gas industry to transition to renewable energy was underscored by the head of the International Energy Agency, warning of substantial economic repercussions if the sector continues its limited investment in renewables, currently at a mere 2.5% of its capital.