According to a Global Energy Monitor Analysis published on Thursday, thirty fossil fuel businesses are responsible for close to half of the methane emissions in the energy industry.
Methane is a powerful but short-lived greenhouse gas that traps more heat in the atmosphere than CO2 during a 20-year period, making it the most practical approach to keep global warming to 1.5 degrees Celsius (2.7 F).
State-owned businesses fared the worst, with China Energy Investment Corp., National Iranian Oil Co., and Gazprom PJSC taking the top three spots. The GEM analysis illustrates how reducing methane pollution is an effective strategy to prevent climate change, especially in the short term, and is consistent with previous recent reports on the concentrated nature of methane pollution in the oil and gas sector.
The amount of methane that each nation emits for every barrel of oil and gas they extract varies greatly. Mason Inman, one of the report’s authors, noted that this demonstrates how these emissions are preventable.
Since the companies would be able to capture more natural gas and sell it, almost half of the methane emissions from the oil and gas industry might be eliminated with no net cost to the businesses.
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