In a landmark announcement at the COP28 conference on Saturday, a conglomerate of 50 leading oil and gas companies pledged their commitment to significantly reduce methane emissions. As part of a collective action to mitigate the escalating impacts of climate change, they vowed to cut methane emissions by an ambitious 80 to 90% by the end of this decade. This bold undertaking reflects increasing pressure on the fossil fuel industry to contribute to global climate solutions.
1. In a significant development at the COP28 conference, 50 top oil and gas companies committed to significantly reduce their methane emissions.
2. These firms pledged to reduce their methane emissions by 80 to 90% by the end of this decade as part of a collective effort to combat climate change.
3. This pledge is seen as a major step in the fight against the global climate crisis, demonstrating increasing pressure on the fossil fuel industry to contribute to solving the issue.
4. Methane, a greenhouse gas, is 84 times more potent at warming the climate than carbon dioxide in the short term. Thus, reduction in methane emissions could have a significant impact on global warming.
5. The plan involves improving operational efficiency, investing in new technologies, and conducting regular checks on infrastructure to identify and rectify methane leaks.
The 50 leading oil and gas companies have committed to reducing methane emissions by 80 to 90% by the end of this decade.
This ambitious pledge signifies a major step in combating the global climate crisis. Methane, a potent greenhouse gas, is 84 times more effective at warming the climate in the short term than carbon dioxide. By committing to a cut of 80 to 90% in methane emissions, the coalition hopes to significantly reduce their contribution to global warming. The plan includes measures such as improving the efficiency of operations, investing in innovative technologies, and regularly conducting checks on infrastructure to detect methane leaks.