Global Methane Tracker 2024
Source: PIB
GS III: Conservation, environmental pollution and degradation, environmental impact assessment
Overview
- News in Brief
- About Global Methane Tracker 2024
- International Energy Agency (IEA)
Why in the News?
Global Methane Tracker 2024 was released and this year’s update provides our latest estimates of emissions from across the sector
News in Brief
- Methane is responsible for around 30% of the rise in global temperatures since the Industrial Revolution.
- Rapid and sustained reductions in methane emissions are key to limiting near-term global warming and improving air quality.
- The energy sector – including oil, natural gas, coal and bioenergy – accounts for over a third of methane emissions from human activity.
- Global Methane Tracker is an indispensable tool in the fight to bring down emissions from across the energy sector.
About Global Methane Tracker 2024
- The report is released by the International Energy Agency (IEA).
- Drawing on the more recent data and readings from satellites and ground-based measurements.
- The costs and opportunities to reduce these emissions.
- It also tracks current pledges and policies to drive down methane emissions and progress towards these goals.
- For the first time, the Tracker includes the investments needed to deliver emissions reductions and the potential revenue from these measures.
Detailed Report
- Estimate that the production and use of fossil fuels resulted in close to 120 million tonnes (Mt).
- Around 80 Mt came from countries that are among the top 10 emitters of methane globally.
- The United States is the largest emitter of methane from oil and gas operations.
- It is followed by Russia.
- Norway and the Netherlands have the lowest emissions intensities.
- Emissions have remained around this level since 2019, when they reached a record high.
- The average methane intensity of production globally has declined marginally during this period.
- The energy sector accounts for more than one-third of total methane emissions attributable to human activity.
- Cutting emissions from fossil fuel operations has the most potential for major reductions.
- Around USD 170 billion in spending is needed to deliver the methane abatement measures deployed by the fossil fuel industry in the NZE Scenario.
International Energy Agency (IEA)
The International Energy Agency (IEA) is a prominent intergovernmental organization focused on ensuring reliable, affordable, and clean energy for its member countries and the global community. Established in 1974 in response to the oil crisis, the IEA serves as an autonomous entity within the Organisation for Economic Co-operation and Development (OECD). Its primary mission is to promote energy security, economic growth, and environmental sustainability through energy policy cooperation and analysis.
Key Facts
- Membership: The IEA consists of 30 member countries, including major energy-consuming nations such as the United States, Japan, Germany, and emerging economies like China and India.
- Energy Policy Analysis: It conducts comprehensive research and analysis on various aspects of energy markets, including supply, demand, investment trends, and technological advancements.
- Energy Security: The IEA plays a crucial role in monitoring global energy markets to mitigate supply disruptions and enhance energy security.
- Clean Energy Transition: With a growing focus on climate change mitigation, the IEA provides expertise and guidance on transitioning to cleaner energy sources and reducing greenhouse gas emissions.
- Energy Data and Statistics: It maintains extensive databases and produces authoritative publications, such as the World Energy Outlook, providing valuable insights into global energy trends and challenges.
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