New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
Global methane emission reduction targets could be missed unless urgent action taken
18/10/2023
News
Decisive efforts to cut methane emissions from fossil fuel production and use must go hand-in-hand with the decarbonisation of our energy systems to limit global warming to 1.5°C, according to a new report.
While a drop in fossil fuel demand would cut methane emissions, these reductions by themselves would not occur fast enough to meet the world’s climate goals, says a new report from the International Energy Agency (IEA) in partnership with the United Nations Environment Programme (UNEP) and the UNEP-convened Climate and Clean Air Coalition (CCAC).
Additional targeted actions to tackle methane emissions from fossil fuel production and use – such as eliminating routine venting and flaring and repairing leaks – are essential to limit warming to 1.5°C and reduce the risk of crossing irreversible climate tipping points.
The report finds that rapid cuts in methane emissions from fossil fuels could avoid up to 0.1°C in global temperature rise by mid-century – greater than the emissions impact of immediately taking all cars and trucks in the world off the road.
As methane emissions lead to ground-level ozone pollution, immediate action would also deliver public health, food security and economic benefits. According to the report, methane action would prevent nearly one million premature deaths due to ozone exposure, 90mn tonnes of crop losses due to ozone and climate changes, and about 85bn hours of lost labour due to extreme heat by 2050. This would generate roughly $260bn in direct economic benefits through 2050.
‘Cutting methane doesn’t let us off the hook to make good on the just energy transition. But cutting methane is a low hanging fruit while we work on the overall decarbonisation of our economies in tandem with supporting our societies to build greater resilience. Investments in maintenance and operational changes that prevent methane from leaking into the atmosphere are a fraction of profits made from fossil fuels. This is in stark contrast to the cost of inaction, from crop productivity losses, to impacts on human health and the economy,’ says Inger Andersen, Executive Director, UNEP.
Methane is a powerful greenhouse (GHG) gas responsible for around 30% of the rise in global temperatures since the Industrial Revolution and is the second largest contributor to global warming after CO2. More than half of global emissions stem from human activities in three sectors: agriculture, waste and fossil fuels.
Under current trajectories, total methane emissions from human activities could rise by up to 13% between 2020 and 2030, the report says. In a scenario that limits warming to 1.5°C, they need to fall by 30% to 60% over this timeframe. Cuts in methane emissions from fossil fuel operations will likely need to provide around half of this reduction.
More than three-quarters of methane emissions from oil and gas operations and half of emissions from coal can be abated with existing technology, often at low cost, the report notes.
Tackling methane emissions is one of the most cost-effective ways to reduce GHG emissions. Around $75bn in spending is required to 2030 to deploy all methane abatement measures in the oil and gas sector in the IEA’s net zero scenario, the report finds – equivalent to less than 2% of the income generated by the oil and gas industry in 2022.
Editor’s note: The Energy Institute is a supporting organisation of the Methane Guiding Principles and has set up a Methane Working Group which sits under the EI’s Technical Research Programme for the environment.
