Global Methane Tracker 2024

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Source-This post on Global Methane Tracker 2024 is based on the article “Methane emissions from fossil fuels remain high despite progress, US tops list of emitters: IEA” published in “DownToEarth” on 13th March 2024.

Why in the News?

Global Methane Tracker 2024
Source-DownToEarth

According to the International Energy Agency’s (IEA) Global Methane Tracker 2024, methane emissions from fuel usage in 2023 nearly reached their highest level ever, totaling 120 million tonnes (Mt).

About Global methane Tracker
1. It is an annual report released by the International Energy Agency (IEA).

2. It uses the latest data on methane emissions from the energy sector and includes new scientific studies, measurements, and satellite data.

What are the Key findings of the Global Methane Tracker 2024?

1. Record-high methane emissions:
a.
In 2023, methane emissions from fuel use were nearly the highest ever, reaching 120 million tonnes (Mt). This represents a slight increase compared to 2022.
b. Out of the 120 Mt of methane released into the atmosphere, approximately 80 million tons came from only 10 countries.

2. Top emitters– The United States tops the list in methane emissions from oil and gas operations, with Russia following closely. Meanwhile, China leads in emissions from coal operations.

3. Additional emission– Bioenergy, produced from plant and animal waste, resulted in an additional 10 million tons of emissions.

4. Emission Trends– Although studies indicate that emissions are declining in certain areas, the overall emissions remain excessively high to achieve the world’s climate objectives.

5. Actions needed:
a.
The world must reduce methane emissions from fossil fuels by 75% by 2030 to meet the Paris Agreement target of limiting warming to 1.5°C.
b. 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.

Note- Methane contributes to about 30% of the global temperature increase since the preindustrial era. The energy sector, covering oil, natural gas, coal, and bioenergy, makes up more than one-third of human-caused methane emissions.

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