IEA Reports Near-Record High Fossil Fuel Methane Emissions in 2023

• 14 Mar 2024

On 13th March, IEA announced that despite available technology, fossil fuel methane emissions reach near record levels.

Key Points

• Critical for Climate Targets: Cutting methane emissions is crucial for meeting global climate change goals, emphasizes the IEA.
• Missed Opportunity to Reduce Emissions: Failure to curb methane leaks from oil and gas projects termed a "massive missed opportunity" by the IEA to prevent losses and reduce greenhouse gas emissions.
• Hope for Change: IEA expresses hope for a turnaround in methane emissions if countries and fossil fuel firms implement pollution-cutting promises into concrete policies.
• Causes and Sources of Methane: Human activities, particularly agriculture and the energy sector, are major sources of methane emissions, contributing significantly to global warming.
• Rising Fossil Fuel Methane Pollution: Fossil fuel methane pollution has increased for three consecutive years, with major leaks contributing to the surge.
• Potential for Emission Reduction: Tried and tested methods could have prevented 40% of methane emissions in 2023 at no net cost, highlighting the urgent need for action.
• Key Role of Methane in Climate Change: Methane is more potent than CO2 in trapping heat but relatively short-lived, making it a key target for countries aiming to slow climate change.
• Call for Concrete Policies: The IEA calls for concrete policies to back up commitments made by countries and companies to reduce methane emissions, stressing the importance of detailed plans.
• Potential for Reduction by 2030: Countries and companies have the capacity to cut methane emissions from fossil fuels in half by 2030 if they fulfill their promises, according to the IEA.