The International Energy Agency (IEA) has released its Global Methane Tracker 2024.
Key highlights of Global Methane Tracker 2024:
- In 2023, methane emissions from the energy sector remained alarmingly high, reaching approximately 120 million tonnes (Mt).
- Bioenergy sources added another 10 Mt of methane emissions.
- Approximately 80 Mt (about 70%) of methane emissions from fossil fuels were attributed to the top ten emitting countries.
- The United States is identified as the leading contributor to methane emissions from oil and gas operations, followed by Russia.
- China is highlighted as the foremost emitter of coal operations.
- Despite some regional declines, the global methane emission levels are still too high to meet the Paris Agreement objectives, especially limiting warming to 1.5°C.
- A reduction of 75% in methane emissions from fossil fuels by 2030 is necessary to meet these climate goals.
- Achieving this target requires an estimated investment of about US $170 billion, less than 5% of the fossil fuel industry’s income in 2023.
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