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illuminem summarizes for you the essential news of the day. Read the full piece on The Japan Times or enjoy below:
🗞️ Driving the news: Twenty-two Japanese utilities and trading firms, including major players like Mitsubishi and Mitsui, are joining the Coalition for LNG Emission Abatement Toward Net Zero (CLEAN) initiative to reduce methane emissions in the liquefied natural gas (LNG) supply chain
• This coalition, launched last year by Jera and Korea Gas, aims to leverage Japan’s buying power to pressure global LNG suppliers to curb methane emissions
🔭 The context: Japan and South Korea are the second- and third-largest importers of LNG, accounting for 27% of global imports
• Methane, a potent greenhouse gas with over 80 times the warming potential of CO2 in its first two decades, has seen atmospheric levels rise rapidly, making its reduction a critical target in climate mitigation efforts
🌍 Why it matters for the planet: Reducing methane emissions from oil, coal, and gas supply chains represents one of the most effective ways to slow climate change
• Japan’s influence on LNG suppliers in countries like the U.S. and Australia could lead to significant emissions reductions in the global energy sector
⏭️ What's next: The CLEAN initiative's expansion will be formally announced at the LNG Producer-Consumer Conference in Hiroshima, putting more pressure on LNG suppliers to respond to emissions reporting requests and reduce their methane output
💬 One quote: Methane emissions are "some of the lowest hanging fruit in the fight against climate change"
📈 One stat: Japan and South Korea accounted for 27% of global LNG imports last year
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