Environment Minister Steven Guilbeault highlights the need to accelerate the reduction of methane emissions in Canada.
A sharp reduction in global methane emissions could slow the projected increase in global average temperatures by 0.1°, according to a report released in October by the International Energy Agency (IEA). C by 2050.
The goal of the climate summit is to reduce emissions to limit global warming planet to 1.5°C compared to pre-industrial levels, in order to avoid climate catastrophe.
The oil industry recognizes the need to reduce methane emissions more quickly. At least that's what Rhona DelFrari, head of sustainability for Cenovus Energy, a Calgary oil and gas company, says.
She adds that Cenovus Energy has reduced its methane emissions by 59% over the past three years and is now targeting an 80% reduction target by 2028 from 2019 levels.
Oil extraction releases a variable amount of methane. Some companies capture these gases and transport them in a pipeline to sell them as natural gas, others release them into the atmosphere or burn them.
Furthermore, one of the challenges in combating methane emissions is correctly accounting for the amount of methane released into the air. Surveillance technology is improving, including the development of sophisticated sensors and satellites, but experts say the accuracy of current data can still be improved.
As part of its announcement made Monday, Ottawa also committed to dedicating $30 million to the creation of a methane center of excellence to #x27;improve reporting of methane emissions and focus on data and metrics.
It should be noted that more than 150 countries have signed a methane pledge, which aims to reduce global emissions of the pollutant by 30% by 2030 compared to 2020 levels.