The International Energy Agency reveals that despite affordable technologies being available, the oil, gas, and coal sectors have made little progress in reducing methane emissions, missing out on millions of tonnes of potential cuts crucial for climate targets.
The International Energy Agency (IEA) has released a report highlighting that the oil and gas industry is neglecting significant opportunities to reduce methane emissions, known as fugitive emissions, which could amount to millions of tonnes. Despite the availability of cost-effective methods for abating these emissions, the industry has made little progress in implementing the necessary changes.
In its analysis, the IEA pointed out that the lack of action on methane abatement does not stem from prohibitive costs, as the measures required to mitigate these emissions could be implemented without incurring extra net expenses to operators. Specifically, the agency has identified that the technology required to capture and remediate these emissions is both accessible and affordable.
Additionally, the report draws attention to the emissions emanating from abandoned coal mines, indicating that these sources are also not being adequately addressed. The IEA’s findings suggest a broader reluctance within the energy sector to prioritise emissions reduction strategies that could have substantial environmental benefits.
The implications of these findings are significant, as methane is a potent greenhouse gas, and its mitigation is crucial for achieving climate goals. The report calls for urgent attention towards these two major sources of emissions, underscoring that existing solutions could lead to meaningful reductions if adopted promptly.
As the urgency of climate change continues to mount, the response from the oil, gas, and coal sectors will be closely monitored by various stakeholders, including environmental organisations and policymakers, to assess the industry’s commitment to reducing its environmental footprint.
This analysis reflects ongoing concerns about the industry’s environmental practices and the potential for significant improvements through the adoption of already available technologies.
Source: Noah Wire Services
- https://www.iea.org/reports/global-methane-tracker-2022 – The IEA’s Global Methane Tracker 2022 report corroborates the claim that the oil and gas industry is neglecting opportunities to reduce methane emissions, detailing the significant amounts of emissions that could be mitigated through existing technologies.
- https://www.sciencedirect.com/science/article/pii/S0959652621007891 – This article discusses the cost-effective methods available for methane abatement, confirming that the necessary changes could be made without incurring extra net expenses.
- https://www.nbcnews.com/news/us-news/methane-emissions-fossil-fuels-rising-despite-cost-effective-solutions-experts-rcna15552 – NBC News highlights the ongoing rise in methane emissions from fossil fuels despite the availability of easy and inexpensive solutions, echoing the IEA’s findings.
- https://www.theguardian.com/environment/2021/nov/04/methane-climate-crisis-action-nations – The Guardian discusses the urgency of addressing methane emissions and the broader environmental implications, supporting the claim about the necessity for more focused efforts in the energy sector.
- https://www.frontiersin.org/articles/10.3389/fenvs.2022.897246/full – This research article elaborates on methane emissions from abandoned coal mines, corroborating the IEA’s claim that these sources are not adequately addressed in the industry.
- https://www.wri.org/blog/2021/02/methane-emissions-climate-change-solutions – The World Resources Institute outlines the significant environmental benefits of mitigating methane emissions, aligning with the report’s emphasis on the urgent need to adopt existing solutions.
- https://carbon-pulse.com/394630/ – Please view link – unable to able to access data
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
9
Notes:
The content appears to be recent, discussing ongoing issues with methane emissions and referencing recent concerns and reports. However, without specific dates from the IEA report, it is difficult to confirm the exact age of the information.
Quotes check
Score:
10
Notes:
No direct quotes are present in the narrative, making it unnecessary to verify any quotes.
Source reliability
Score:
8
Notes:
The narrative originates from Carbon Pulse, a reputable outlet in the energy sector, but not as widely known as major news agencies like BBC or Reuters.
Plausability check
Score:
9
Notes:
The claims about methane emissions and the IEA’s stance on the matter are plausible, given the agency’s focus on energy and environmental issues. Lack of specific data or sources does not diminish the plausibility but reduces traceability.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative is likely recent, does not contain any direct quotes, and originates from a reputable energy-focused outlet. The claims about methane emissions align with known environmental concerns and the IEA’s role in addressing these issues.
