We released the expanded @IEA Global #Methane Tracker today with our latest estimates of emissions and abatement potential. 🔗iea.li/methane
For the first time, we've built in info on policies and regulations. I want to highlight a few interesting findings.
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For the first time, we've built in info on policies and regulations. I want to highlight a few interesting findings.
1/9
Over 110 countries joined the #GlobalMethanePledge last year, which targets a 30% reduction in human-caused methane by 2030.
But without concrete policies and regulations, the world won't meet this target. Voluntary action by companies alone won't be enough.
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But without concrete policies and regulations, the world won't meet this target. Voluntary action by companies alone won't be enough.
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Today's new policies page of the Tracker shows what tried and tested policies can achieve.
These policies have already been proven effective. If every country adopted them, emissions from the oil and gas sector could be cut in half.
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These policies have already been proven effective. If every country adopted them, emissions from the oil and gas sector could be cut in half.
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Canada, Mexico, and the US have longstanding targets and national regulations that reduce emissions from #OilAndGas.
These regulations can be useful examples for other countries, particularly those considering methane mitigation for the first time.
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These regulations can be useful examples for other countries, particularly those considering methane mitigation for the first time.
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Beyond North America, nearly every country already has building blocks that could support methane reduction policies.
These include restrictions on flaring & venting and licensing rules that could be expanded to require companies to reduce methane. See e.g. Iraq ⬇
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These include restrictions on flaring & venting and licensing rules that could be expanded to require companies to reduce methane. See e.g. Iraq ⬇
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This is exactly what Colombia did earlier this month.
They finalized new regulations placing new limits on flaring & venting and requiring leak detection and repair. More details from @cleanaircatf here: catf.us/2022/02/methan…
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They finalized new regulations placing new limits on flaring & venting and requiring leak detection and repair. More details from @cleanaircatf here: catf.us/2022/02/methan…
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But even in the countries that are farthest ahead, there are significant gaps and a lot of room for improvement.
Tried and tested policies can reduce emissions by 50%, but to reach a 75% cut, we'll need policies that require or encourage better measurement and better data.
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Tried and tested policies can reduce emissions by 50%, but to reach a 75% cut, we'll need policies that require or encourage better measurement and better data.
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Today's update builds on @IEA's Regulatory Roadmap and Toolkit, published last year, which offers a step-by-step guide for developing or updating regulations on methane.
🔗 iea.org/reports/drivin…
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🔗 iea.org/reports/drivin…
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A lot still needs to be done to put the world on track to meet the Global Methane Pledge.
Policy and regulation must be part of the solution, and our Global Methane Tracker highlights effective examples that can serve as a model for others.
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Policy and regulation must be part of the solution, and our Global Methane Tracker highlights effective examples that can serve as a model for others.
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