Businesses urged to commit to reducing methane leak at Baku Climate Action Week

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🗞️ Driving the news: At Baku Climate Action Week, held ahead of COP29, NGOs urged oil companies to reduce methane emissions, a major contributor to global warming
• Discussions focused on making natural gas production cleaner and ensuring importers commit to lower methane leaks

🔭 The context: Methane emissions from fossil fuel production account for over a third of human-caused methane, according to the International Energy Agency
• With methane linked to worsening storms and floods, pressure is mounting on governments and companies to take immediate action

🌍 Why it matters for the planet: Reducing methane emissions offers a swift way to combat climate change, as methane is a potent greenhouse gas
• Successful reductions could significantly curb air pollution and mitigate the impact of extreme weather events

⏭️ What's next: Baku’s COP29 goal is to secure financing for countries to reduce greenhouse gas emissions
• The summit will test global commitments under the Paris Agreement and push for stronger methane regulations from importing nations

💬 One quote: "This is really low-hanging fruit. The industry knows how to produce gas with very little associated-methane emissions" - Steve Hamburg, chief scientist at the Environmental Defense Fund

📈 One stat: The energy sector produced nearly 120 million tonnes of methane emissions in 2023, per the International Energy Agency

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