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.
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.
Despite this concerning trend, recent policies and pledges from the COP28 climate summit in Dubai signal potential for a turnaround.
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.
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