Trend Reversal Predicted for Methane Emissions from Fossil Fuels Following the Small Increase in 2023

In 2023, methane emissions attributable to the energy sector neared record levels, maintaining a worrying trend for the well-being of our planet.

However, a wave of optimism is emerging thanks to significant policies and regulations introduced recently, along with the ambitious goals set during the COP28 climate summit held in Dubai.

These new initiatives, according to the latest analyses from the International Energy Agency (IEA), promise to usher in an era of substantial reduction in methane emissions in the near future.

In 2023, 120 million tons of methane emissions

The recent IEA analysis provides a detailed post-COP28 assessment of global methane emissions, highlighting how the production and use of fossil fuels generated about 120 million tons of methane in 2023 alone, with a slight increase compared to the previous year.

Additionally, 10 million tons of emissions were derived from bioenergy, mainly linked to the traditional use of biomass in daily activities such as cooking.

The report emphasizes that the 10 largest emitting countries are responsible for nearly two-thirds of global emissions from fossil fuels, with the USA and Russia leading, followed by China as the main emitter in the coal sector.

Satellite technology plays a crucial role in improving the understanding of methane emissions and their sources, revealing a significant increase in major fossil fuel leaks in 2023, including a notable episode in Kazakhstan lasting over 200 days.

Despite efforts, global methane emissions remain excessively high, threatening international goals to limit global warming. The IEA asserts that it is essential to reduce methane emissions from fossil fuels by 75% this decade to avoid exceeding the 1.5°C increase set by the Paris Agreement.

Methane Emissions: COP28 marked a turning point

Fatih Birol, Executive Director of the IEA, expresses optimism for the recent progress observed, highlighting the importance of turning commitments into concrete actions. He emphasizes the availability of effective policies and existing technologies capable of significantly reducing methane emissions and reiterates the IEA's commitment to supporting the energy sector in achieving these critical goals.

COP28 marked a turning point, with nearly 200 governments committed to significantly reducing methane emissions by 2030. Important initiatives were announced by Canada, the EU, and the USA, and new companies have joined through the Oil and Gas Decarbonization Charter.

The growing adherence to the Global Methane Pledge is a positive sign, with Azerbaijan ready to host the next COP29.

If fully realized and timely, the commitments made so far could cut methane emissions from fossil fuels by 50% by 2030. However, many of these commitments still require concrete action plans for their implementation.