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Oil, gas industry launches ‘immediate-impact’ plan to slash global warming emissions

Oil, gas industry launches ‘immediate-impact’ plan to slash global warming emissions

23 September 2014 – Multinational oil and gas companies, major producing States and over two dozen cities today joined forces to slash methane emissions in a partnership that can have an immediate impact in reducing global warming as part of United Nations Secretary-General Ban Ki-moon’s strategy to tackle climate change.

“I am so glad to see concrete initiatives that will help reduce the release of short-lived climate pollutants into the atmosphere,” Mr. Ban said of the Oil and Gas Methane Partnership launched on the same day that he is hosting the largest-ever summitsummit of world leaders on climate change at UN Headquarters in New York.

“These announcements show how Governments, corporations and civil society can work together to reduce emissions.”

Short-lived climate pollutants, including methane, black carbon (soot), and hydrofluorocarbons (HFCs), are responsible for a substantial portion of the increase in global temperatures and efforts to reduce them can have immediate impact in slowing the rise in global temperatures expected over the next 35 years by as much as 0.6°C while benefiting people’s health and the production of food.

Significant action is needed especially by the oil and gas sector which is responsible for more than 20 per cent of the world’s methane emissions, second only to the agriculture sector.

Industry partners include ENI of Italy; Petróleos Mexicanos or Pemex; the U.S. gas company Southwestern Energy; Norway’s Statoil Group; BG Group, the former British Gas, and Thailand’s oil and gas company, PTT.

Governments which have signed on include those from major oil and gas producing countries, such as Mexico, Nigeria, Norway, Russia and the United States.

To Read Full Press Release Click Here

Source: The UN Climate Change Summit 2014

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