Oil and gas CEOs up their methane pledge
The CEOs of 10 leading oil and gas companies last week announced intentions to move toward “near-zero” methane emissions, pledging to set a quantitative reduction target by this time next year. At first blush, it might sound like a modest step — a promise to make a promise. In fact, the CEOs announcement constitutes an important and welcome recognition that oil and gas methane emissions impact the climate, are too high and must be reduced. The new pledge comes just days after the International Energy Agency previewed its analysis showing that methane is a “critical issue for the long-term natural gas outlook” and steep emission reductions are possible with today’s technology, and enormously cost-effective.
Written by Ben Ratner and Drew Nelson for GreenBiz.com