{"id":30592,"date":"2023-10-17T10:24:28","date_gmt":"2023-10-17T08:24:28","guid":{"rendered":"https:\/\/reclaimfinance.org\/site\/?p=30592"},"modified":"2023-10-17T10:24:28","modified_gmt":"2023-10-17T08:24:28","slug":"human-caused-methane-emission-must-decrease-driven-by-cuts-in-the-fossil-fuel-industry","status":"publish","type":"post","link":"https:\/\/reclaimfinance.org\/site\/en\/2023\/10\/17\/human-caused-methane-emission-must-decrease-driven-by-cuts-in-the-fossil-fuel-industry\/","title":{"rendered":"Human-caused methane emission must decrease, driven by cuts in the fossil fuel industry"},"content":{"rendered":"

Mitigating anthropogenic methane emissions is key to limiting global warming<\/b><\/a><\/span> in decades up to 2050. According to the United Nation Environment Program (UNEP), affordable solutions have the potential to reduce these emissions by 40 to 45% by 2030 and could avoid 0.3\u00b0C of global warming by 2050, with the most significant contribution coming from fossil fuels (1). The Net Zero Emissions (NZE) scenario of the International Energy Agency (IEA) consistently shows fossil fuels methane emissions can decrease by 75% by 2030, driven by production reduction and operational methane releases mitigation (2). Financial institutions need to require companies to adopt ambitious methane emissions reduction plans including fossil fuels production reduction, and mitigation of the remaining emissions.<\/b><\/p>\n<\/div>

Fossil fuel sector must lead the methane emissions reduction effort<\/h2><\/span>
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40%<\/div><\/div><\/div><\/div>

Anthropogenic methane emissions should be reduced by 40% by 2030 on average.<\/p>\n<\/div><\/div><\/div>

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Methane, the second largest contributor to climate change after CO2, is emitted from numerous natural and anthropogenic sources. According to the International Panel on Climate Change (IPCC) scenarios that achieve least-cost pathways limiting global warming to 1.5\u00b0C this century, with no or low overshoot and limited reliance on Carbon Dioxide Removal (CDR) technologies, anthropogenic methane emissions should be reduced by 40% by 2030 on average. A reduction of this magnitude would avoid nearly 0.3\u00b0C of warming by 2050 and complement long-term climate change mitigation efforts. This is not only possible, but is also easily affordable. According to the UNEP, cost-effective measures could cut annual methane emissions by 40 to 45% (180 Mt) by 2030 across various sectors, the most significant contribution coming from the energy sector, and specifically from fossil fuels. (1)<\/p>\n<\/div><\/div><\/div>

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The energy sector accounted for 133 Mt of methane emissions in 2022, or 37% of global anthropogenic emissions according to the IEA. (3) More than 90% of these emissions come from the fossil fuels sector, i.e. from the coal, oil and gas sectors.<\/p>\n<\/div>

Methane emissions across the energy sector in 2022. (4)<\/strong><\/p>\n<\/div>

\"Methane<\/span><\/div><\/div>

Methane emissions in the fossil fuel sector come from three main sources:<\/p>\n