Global Methane Pledge: Key Strategies for Emissions Reduction

Prioritizing rapid abatement and decarbonization of our economies.

Add bookmark

Industrial Decarbonization Network
08/01/2024

To keep the 1.5°C warming limit within reach, rapid methane abatement and decarbonization of our economies need to be heavily prioritized. Methane accounts for about one-third of net warming since the Industrial Revolution, and rapidly cutting methane from sectors like energy, agriculture, and waste can lead to substantial near-term progress. However, without action, global anthropogenic methane emissions are projected to rise by up to 13% between 2020 and 2030.

The Intergovernmental Panel on Climate Change (IPCC) indicates that to align with the most cost-effective strategies for limiting global warming to 1.5°C this century, global methane emissions need to be cut by 30-60% below 2020 levels by 2030. This reduction must occur alongside significant decreases in all climate forcers, including carbon dioxide and other short-lived climate pollutants.

Based on this imperative, the Global Methane Pledge (GMP) was introduced at COP26 by the European Union and the United States, with participants of the pledge committing to voluntarily contribute to a collective goal of reducing global methane emissions by at least 30% from 2020 levels by 2030. As of March 2024, the GMP has 158 participating nations.

Read the Global Methane Pledge

Participants of the Pledge also commit to adopting the highest-tier IPCC good practice inventory methodologies, aiming to continually enhance the accuracy, transparency, consistency, comparability, and completeness of their national greenhouse gas inventory reporting under the UNFCCC and Paris Agreement, ensuring greater transparency in key sectors.

The Pledge also seeks to stimulate global action and bolster existing international initiatives to reduce methane emissions by advancing technical and policy efforts that support domestic actions of the participants. It acknowledges the vital contributions of the private sector, development banks, financial institutions, and philanthropic organizations in supporting the GMP’s implementation and welcomes their involvement and efforts.

Key Strategies for Emissions Reduction
The Global Methane Tracker 2024 reported that methane emissions from the energy sector remained close to a record high in 2023, estimating that fossil fuel production and usage contributed nearly 120 million tonnes (Mt) of methane emissions, with an additional 10 Mt stemming from bioenergy sources. Even though more governments and fossil fuel companies are committing to act, overall emissions remain far too high to meet global climate goals.

Moreover, several new initiatives were announced at the COP28 climate summit in Dubai just last year: the Oil and Gas Decarbonisation Charter (ODGC) was introduced, additional countries joined the Global Methane Pledge, and new funding was secured to support the reduction of methane and other non-CO2 greenhouse gases (GHGs). It is estimated that if all COP28 commitments are fully achieved on time, and the new funding is effectively utilized, annual methane emissions could decrease by nearly 25 Mt by 2030, with most reductions coming from oil and gas operations.

As the oil and gas sector represent one of the best near-term opportunities for climate action, this article highlights they key strategies to reduce emissions from oil and gas operations:

The Use of Existing Technologies
Various methods and technologies to reduce methane emissions from oil and gas operations are well-established and have already been implemented in various regions globally. Notable examples include conducting leak detection and repair (LDAR) programs, installing devices to control emissions, and replacing components that routinely release methane.

Many of these measures are also cost-effective, as the expenses involved in their implementation are often lower than the market value of the captured methane, which can then be sold.

Additionally, upgrading existing infrastructure to be more efficient and less prone to leaks is another critical area. This would include replacing old pipelines, installing vapor recovery units, and using more advanced materials and equipment that minimize the risk of methane leaks during extraction, processing, and transportation.

Tried-and-Tested Policy and Regulatory Action
In 2023, many countries and regions announced and proposed new regulations on cutting emissions, including the United States new rule establishing a first-of-its-kind Super Emitter Program; Canada’s restrictions on flaring and venting, equipment standards, and mandatory risk-based LDAR; and the European Union’s agreement on a new methane regulation that requires gas, oil, and coal operators to report regularly on their emissions for both operated and non-operated assets.

Countries now have numerous proven policy options at their disposal, such as mandating leak detection and repair (LDAR) programs, enforcing equipment standards, and implementing measures to curb non-emergency flaring and venting. These policies can provide immediate and significant benefits, especially for countries that are just now beginning to regulate methane emissions from fossil fuels.

DOWNLOAD: 2024 State of Methane Emissions Regulations Around the Globe

Voluntary Initiatives
Alongside policy action, the oil and gas industry can benefit from voluntary initiatives and frameworks to drive raid cuts in emissions and abatement efforts. There are several voluntary, industry-led initiatives, including the Methane Guiding Principles, the Oil and Gas Climate Initiative, the Oil and Gas Methane Partnership 2.0 and the China Oil and Gas Methane Alliance, through which companies can commit to reducing emissions over time.

It is imperative for voluntary initiatives to work in tandem with national policies and regulations, especially if definitive decline is the goal. Numerous international oil and gas companies have already established targets to limit their emissions or the emissions intensity of their production. Additionally, several voluntary, industry-led initiatives aim to reduce methane emissions from oil and gas operations and promote the sharing of best practices for methane management. However, the lack of effective accountability mechanisms means these initiatives have not yet demonstrated reductions on a global scale.

Innovations in Monitoring and Abatement
Emerging technologies are enhancing the ability to monitor and mitigate methane emissions. Continuous monitoring devices are now capable of scanning facilities around the clock, enabling operators to quickly detect and address leaks. Flares are monitored daily in near real-time, assisting companies in identifying bottlenecks and optimizing both operated and non-operated assets. Mobile mini-LNG production units can minimize the need for flaring and venting during well-testing and other temporary operations. Additionally, automated air/fuel ratio controls can ensure that compressors and engines function at optimal efficiency, reducing methane emissions from combustion processes.

Learn more about methane mitigation solutions, strategies, and technological implementations from some of the leading minds in the industry at our upcoming events: