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EU approves law to hit gas imports with methane emissions limit

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By illuminem briefings

· 1 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:

🗞️ Driving the news: The European Union approved a law to impose methane emissions limits on oil and gas imports starting from 2030, aiming to reduce leaks of this potent greenhouse gas

🔭 The context: The law mandates "maximum methane intensity values" for fossil fuels, with penalties for non-compliance, affecting major suppliers like the U.S., Algeria, and Russia

🌍 Why it matters for the planet: Methane is the second-biggest cause of climate change after carbon dioxide
• Reducing methane emissions is crucial for mitigating climate change, as methane is a powerful greenhouse gas

⏭️ What's next: From 2027, new import contracts will require compliance with EU methane reporting rules
• The European Commission will finalize the methane limits by 2030, with financial penalties for non-compliance

📈 One stat: By targeting methane leaks, the EU aims to significantly reduce greenhouse gas emissions, aligning with global efforts to cut methane emissions by 30% by 2030 to mitigate climate change

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