Energy industry fails to tackle methane emissions despite soaring profits, IEA says.

 

 Levels of the potent global warming gas remained at a near-record high in 2022.

"Global fossil fuel industry emissions of methane increased to a near record in 2022, prompting a call from the International Energy Agency for oil and gas companies to use “windfall” profits to clean up leaks of the potent global warming gas. The latest report from the IEA estimated the industry was responsible for 135mn tonnes of methane released into the atmosphere last year, only slightly below the record high in 2019. Methane is the main component of gas and accounts for about 30 per cent of the global temperature rise since the industrial revolution, with the energy industry making up about a third of human-induced methane, second only to agriculture."

 

Financial Times, February 22, 2023