Companies and large enterprises are responsible for creating the characteristic “carbon footprint” that is a subject of much pessimism in the arena of environmental sustainability. Nonetheless, since the time of the Paris Agreement, to COP27, several companies belonging to energy-centric sectors have adopted policies to start to decrease their carbon footprints. Gradually, heavy industries are realising that the carbon footprint left behind during and after production wreaks havoc on the environment. COP27 vows to help prevent the carbonisation that industries collectively create.
Steel is a heavy industry and produces the most in terms of carbon emissions. However, the gas and oil industry’s carbon footprint should not be overlooked. It accounts for above 10% of global emissions of carbon. The biggest problem for the environment in the oil and gas sector is the occurrence of methane leaks.
Summit Action Towards Decarbonisation
The gas and oil industry play a crucial role in mitigating the release of carbon and demonstrating social and ethical responsibility towards the planet. The sector is ready to align with the outcomes of COP27 and will work towards eliminating the carbon footprint as far as it possibly can.. The main problem occurs with oil and gas leaks. The leaks may be inevitable sometimes, seeping into oceans and seas. The leaks consist of gasses like methane. To avoid this, certain best practices must be adopted at the earliest. The Global Methane Pledge taken by 122 countries in the world, vows to drop methane emissions by 30% by the year 2030. With a focus on technology, COP27 hopes to give companies solutions that are practical to reduce further leaks of methane.
Countries with a positive prognosis
Methane cannot be banned from the sector of oil and gas entirely, but some countries like the UK report that, with technological advances, methane leaks could be cut by 40% by 2030. Towards this optimistic outlook, the UK is adopting certain cost-effective policies at ground levels to cut methane emissions in all walks of life, not just in industry.
What is methane gas?
Methane is a greenhouse gas and the UK government has vowed to cut down on all emissions of this poisonous pollutant. The gas holds more than 80 times the heating power of carbon dioxide. When Boris Johnson was in power, this pledge was proudly made with 100 other countries at COP26 in Glasgow. The best intentions of the greatest nations, come from a place of empathy for the planet, lack traction. There has yet to be any particular strategies put forward regarding the efforts of putting the plan into action by the UK. The UK hands over the presidency of the COP to Egypt at COP27. The obvious failure to take any active measures regarding its promises, risks its reputation as an international leader in methane reduction going sour.
The Green Alliance Think Tank Report
In a new report on the UK’s strict measures to cut down methane gas emission, a think tank called Green Alliance issued a report about low-cost ways the UK plans to do this. The key to the decreases in production of the gas lie in changes implemented in the waste industry. The UK has a ban for biodegradable landfilling waste. This ban, if brought forward to 2025, mandating the capture of biogas waste, could result in methane emission reduction by 19% by the year 2030. Furthermore, if methane leaks get plugged in effective ways, more of the gas, at least a further 9%, could be prevented from entering the atmosphere. Plugging any methane leakages could lead to a rapid increase in supplies of gas to the UK, enhancing energy security of the country.
The UK is taking significant steps at country-level to curb methane leaks. This could then be replicated by each company at an industry level. If you own a company or business in this sector, you could take the lead in curbing methane leaks and other decarbonisation measures for your company.