The imperative for methane action

The energy world is at a crossroads. As fossil fuel demand increases, the resulting rise in global temperatures is contributing to more frequent and severe storms, droughts, floods, and wildfires. Without drastic emission cuts the UNEP 2023 Emissions Gap Report warns the remaining carbon budget to limit global warming to 1.5°C will likely be depleted by 2030, highlighting the urgency of tackling pollutants like methane. At last year’s Climate Talks in Dubai a major methane deal led by the UAE brought 50 oil producers together and put them on a pathway for achieving meaningful reductions. The oil and gas industry has a pivotal role to play in getting the world back on track and accelerating progress toward an abundant, affordable, sustainable, and equitable energy future.