Page 20 - REM Annual Review 2021

REM OCTOBER REM

IEA urges more focus on cutting

methane to meet climate targets

TACKLING methane emissions from fossil prices.
GLOBAL fuel operations is essential to combat near-term Ahead of the COP26 Climate Change Con-
global warming. ference in Glasgow in November, the report calls
Climate action cannot focus solely on reduc- on regulators and the energy industry to carry
ing carbon dioxide emissions, as cutting meth- out a range of measures, including policy and
ane output by industry, which has the potential regulatory actions, voluntary industry initiatives
to have the greatest impact on limiting near- and improvements in emissions measurement
term climate change, is essential for meeting and reporting.
global climate targets. “At a time when we are constantly being
Methane is responsible for around 30% of the reminded of the damaging effects of climate
global rise in temperatures to date. Rapid steps change, it is inexcusable that massive amounts
to tackle methane emissions from oil, gas and of methane continue to be allowed to just seep
coal operations would have immediate impacts into the air from fossil fuel operations,’’ said Fatih
because of the potent effect of methane on Birol, IEA Executive Director.
global warming and the large scope for cost-ef- “These emissions are avoidable, the solutions
fective actions, the International Energy Agency are proven and even profitable in many cases.
(IEA) said in a new report. And the benefits in terms of avoided near-term
warming are huge. I welcome the renewed impe-
Outputn tus behind this issue with the Global Methane
Fossil fuel operations globally emitted close to Pledge, announced by the European Union and
120mn tonnes of methane in 2020, nearly one- the US, and urge all countries and companies to
third of all methane emissions from human step up their actions.”
activity.
Much of these emissions are simply leakage Methane pledge
along the production and supply chain that oper- Quick action is needed because eventual declines
ators fail to capture or avert. There are cost-effec- in demand for fossil fuels alone will not achieve
tive ways to limit these emissions, especially in rapid enough reductions of methane emissions
the oil and gas sector. to forestall the worst effects of climate change.
The IEA estimates that more than 70% of cur- In the IEA’s Roadmap to Net Zero Emissions
rent emissions from oil and gas operations are by 2050, released in May, methane emissions
technically feasible to prevent and around 45% from fossil fuel operations fall by around 75%
could typically be avoided at no net cost because between 2020 and 2030. About one-third of this
the value of the captured gas is higher than the decline is a result of an overall reduction in fos-
cost of the abatement measure. sil fuel consumption, but the larger share comes
This share would be much higher at the from measures and technologies aimed at
moment, given the record highs in natural gas reducing emissions in existing fields, pipelines

P20 www. NEWSBASE .com Annual Review 2021