Global Methane Tracker 2024

 

Global Methane Tracker 2024

*       It is an annual report released by the International Energy Agency (IEA).

*       It is based on the most recently available data on methane emissions from the energy sector and incorporates new scientific studies, measurement campaigns, and information collected from satellites.

About this report

*       Methane is responsible for around 30% of the rise in global temperatures since the Industrial Revolution, and rapid and sustained reductions in methane emissions are key to limiting near-term global warming and improving air quality.

*       The energy sector – including oil, natural gas, coal and bioenergy – accounts for over a third of methane emissions from human activity.

*       The IEA’s Global Methane Tracker is an indispensable tool in the fight to bring down emissions from across the energy sector.

Highlights of Global Methane Tracker 2024

*       Methane emissions from fuel use in 2023 were close to being the highest ever at 120 million tonnes (Mt). This is a small rise compared to 2022.

*       Bioenergy, a form of renewable energy generated by plant and animal waste, caused another 10 million tons of emissions.

*       Of the 120 Mt of methane that escaped into the atmosphere, around 80 million tons of methane emissions came from just 10 countries, The United States leads in methane emissions from oil and gas operations, and is “closely followed” by Russia. China, on the other hand, leads in emissions from coal operations.

*       While studies suggested emissions are falling in some regions, overall emissions remain far too high to meet the world’s climate goals.

*       The world needs to slash methane emissions from fossil fuels by 75 percent by 2030 to achieve the Paris Agreement goal of limiting warming to 1.5°C.

*       The IEA estimated that this goal would require about $170 billion in spending. This is less than 5 percent of the income generated by the fossil fuel industry in 2023.