Methane emissions from the energy sector approached record highs in 2023, with close to 120 million tonnes emitted, marking a slight rise compared to the previous year.
Despite this concerning trend, recent policies and pledges from the COP28 climate summit in Dubai signal potential for a turnaround.
The latest Global Methane Tracker report by the International Energy Agency, the first comprehensive assessment post-COP28, highlights the urgent need for action, with methane emissions contributing significantly to global temperature increases.
Meeting international climate targets, particularly limiting warming to 1.5 °C as outlined in the Paris Agreement, requires a substantial reduction of 75% in fossil fuel-related methane emissions by the end of the decade.
Encouragingly, efforts to curb methane emissions are expected to intensify in 2024, buoyed by increased ambition following COP28.
The report suggests that if all current commitments are fulfilled, a 50% reduction in fossil fuel methane emissions could be achieved by 2030.
Moreover, advancements in satellite technology are enhancing monitoring capabilities, enabling better detection and mitigation of methane leaks.
Make sure you check out the latest Net Hero Podcast episode:
