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Global Methane Pledge Set to be Unveiled at COP26

A climate pact is set to be unveiled at COP26, which is aimed at reducing methane emissions by 2030. The goal of the Global Methane Pledge is to reduce methane output by at least 30% from 2020 levels. 

Methane is a more potent greenhouse gas than CO2 and, according to the Intergovernmental Panel on Climate Change, plays a major role in the recent anthropogenic impact on the net rise of the global average temperature. The U.S. and the E.U., along with several other countries, have agreed to be part of this pact. 

It is anticipated that the U.S. will target the oil and gas industry to achieve the ambitious goals that are to be set as part of the pact. As early as next week, the U.S. Environmental Protection Agency is expected to propose requirements relating to methane leaks at oil and gas wells.

In the U.S., the Environmental Protection Agency is set to propose requirements for stemming methane leaks at oil and gas wells as soon as next week. The agency will seek to strengthen mandates for newly modified and drilled wells, while establishing standards for the hundreds of thousands of others drilled long ago.

Tags

cop26, esg, carbonmarket

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