Oil and gas companies are not doing enough to cut methane emissions, the International Energy Agency (IEA) said Tuesday, despite high energy prices making abatement measures mostly pay for themselves.
In its latest annual Global Methane Tracker report, the IEA found that emissions from the energy sector rose slightly last year to 135 million tonnes, to just below the record set in 2019.
The energy sector accounts for around 40 percent of total methane emissions attributable to human activity, second only to agriculture, and cost-effective solutions are available. The IEA estimates that $100 billion—less than three percent of the income of oil and gas companies worldwide last year—would be enough to achieve a 75 percent reduction in methane emissions.
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