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illuminem summarizes for you the essential news of the day. Read the full piece on Euractiv or enjoy below:
🗞️ Driving the news: The European Parliament has overwhelmingly approved a new law aimed at reducing methane emissions in the energy sector
• This landmark legislation requires oil, gas, and coal sectors to implement stringent measures, including detecting and repairing leaks, with the goal of significantly lowering methane emissions
🔭 The context: Methane, a potent greenhouse gas, accounts for about a third of global warming effects
• The International Energy Agency (IEA) notes that the energy sector is a major contributor, responsible for almost 40% of global methane emissions
• Many of these emissions stem from leaks or the intentional release of methane into the atmosphere.
🌍 Why it matters for the planet: Methane is highly effective at trapping heat in the atmosphere, and reducing methane emissions can lead to a quick and significant decrease in the rate of global warming
• The new EU law aims to cut these emissions by enforcing repairs on leaks and banning practices like flaring and venting
⏭️ What's next: The law will be enacted once approved by national ministers, setting strict deadlines—flaring to be banned by 2025 and venting by 2027
• Additionally, the regulation extends obligations to monitor methane emissions to importers of fossil fuels into the EU, though without requiring emission reductions from these imports
💬 One quote: “This law is an essential new brick in a comprehensive European climate strategy,” - Pascal Canfin, French liberal lawmaker.
📈 One stat: Almost 40% of global methane emissions originate from the energy sector.
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