Tuesday, May 13, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Countries, companies lag in response to tackle methane emissions, UN says

Simon Osuji by Simon Osuji
November 16, 2024
in Telecoms
0
Countries, companies lag in response to tackle methane emissions, UN says
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter



Since a U.N. initiative began monitoring for methane leaks from oil and gas infrastructure last year, it has issued 1,200 alerts to governments and companies.

But only 12 of those alerts for major plumes – just 1% – garnered a “substantive response” with action taken to plug the leaks, according to a report by the U.N. International Methane Emissions Observatory on Friday.

“We had expected [the response rate] to be substantially higher,” the programme’s lead architect, Roland Kupers, told a presentation at the COP29 climate summit in Azerbaijan.

Many who were notified of the large methane plumes detected by satellites within their borders had signed up to a global pledge launched three years ago to cut methane emissions by 30% from 2020 levels by 2030.

“Governments and oil and gas companies … must stop paying lip service to this challenge,” said Inger Andersen, executive director of the U.N. Environment Programme, under which the Methane Alert and Response System monitoring program is run.

“They should recognise a significant opportunity that this system presents and start responding by plugging leaks that are spewing out climate-warming methane.”

Methane is a potent greenhouse gas, with 80 times the warming power of carbon dioxide over a 20-year period. To date, methane emissions have driven about 0.5 degrees Celsius in global warming, or a third of global temperature rise seen since the mid-19th century.

Capping leaks from oil and gas wells and equipment is one of the fastest ways to start tackling the problem, experts say. It also makes financial sense, they say, noting that lost methane means lost product.

Methane emissions from the oil and gas industry have remained at a record high since 2019, despite 150 countries signing onto the Global Methane Pledge.

Roughly 140 companies have signed onto another effort, the U.N.’s Oil and Gas Methane Partnership 2.0, committing to tackle unintentional methane outputs.

From the U.N. program’s data, Turkmenistan had the most leak incidents of any country, with nearly 400 plumes detected.

The United States came in second, with 178 incidents, while this year’s COP29 host Azerbaijan received alerts for 32 plumes.

The report’s findings were limited by the fact that methane can sometimes be obscured from satellite detection by cloud cover.

The few responses made to leak alerts were in Algeria, Azerbaijan, Nigeria and the United States, the UNEP report said.

With a number of satellite programmes launched over the last year to track methane, some companies have said they would use the data to comply with any new national methane regulations.

Developing countries can also use leak data to solicit financing to address the problem, and philanthropies last year announced nearly half a billion to support that effort.

Azerbaijan’s state oil company, SOCAR, which joined other national oil and gas companies in last year’s voluntary Oil and Gas Decarbonization Charter committing to zero out methane this decade, said it also has so far identified 400 leaks through satellite monitoring.

(Reporting by Gloria Dickie, Valerie Volcovici and Nailia Bagirova; Editing by Katy Daigle and David Evans)



Source link

Related posts

Telecom Review Africa Joins Ethiopia Business Forum 2025

Telecom Review Africa Joins Ethiopia Business Forum 2025

May 13, 2025
Trump returns to Saudi with eye on oil prices

Trump returns to Saudi with eye on oil prices

May 13, 2025
Previous Post

Raytheon to Build Power Beaming Solutions for US Army

Next Post

CIP St Lucia revokes one CIP passport, big deal

Next Post
CIP St Lucia revokes one CIP passport, big deal

CIP St Lucia revokes one CIP passport, big deal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Death announcement of Charity Wanjiku Wallace, mother to Allan

Death announcement of Charity Wanjiku Wallace, mother to Allan

2 years ago
Top 10 richest people in Africa at the start of 2025

Top 10 richest people in Africa at the start of 2025

4 months ago
CFAO Mobility Kenya awarded top honours as Toyota and Mercedes Benz ranked most admired brands in the automotive sector

CFAO Mobility Kenya awarded top honours as Toyota and Mercedes Benz ranked most admired brands in the automotive sector

8 months ago
Airports are ‘single points of misery’, should rethink travel model

Airports are ‘single points of misery’, should rethink travel model

1 year ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.