ADAMS NATURAL RESOURCES FUND, INC. Minister of state,
Ekpo stated this while on a ministerial panel on actions being taken to accelerate compliance with the Methane Pledge at the ongoing 28th meeting of the Conference of the Parties (
The Methane Pledge targets the reduction of global anthropogenic methane emissions by at least 30 per cent by 2030 and limiting warming to 1.5 degrees Celsius.
The gas minister who described President
Ekpo listed measures adopted by the country to lower emissions to include gas flares commercialisation programmes, establishment of energy transition and carbon monetisation units in regulatory agencies, even as emphasis is placed on carbon market development and enhanced sociwwwwal governance credentials directly supporting the methane pledge.
He said: "We have a decade of gas initiative to promote low carbon natural gas as the preferred choice of fuel and energy in
We are focused on transitioning towards lower methane emissions. We are committed to consistently publishing comprehensive methane emissions data demonstrating accountability and progress in line with the methane pledge.
In
The Charter calls on the oil and gas sector to achieve the goal of reaching net-zero emissions for their own operations by 2050. It also includes commitments to achieve near-zero methane emissions and no routine flaring by 2030.
Speaking on the development during a Panel Session titled "Accelerating the Elimination of Methane Emissions & the Decarbonisation of Oil & Gas,"
"
We believe this charter is an important one. We are committed to working with all stakeholders to deliver on that," Eyesan stated.
She said to achieve its near-zero methane emissions,
"I assure you that we are open to working with our partners towards achieving zero-flare and methane emission reduction by 2030. This fits perfectly with our dreams, and we consider it achievable," Eyesan stated.
She described finance and technology as the two major challenges in delivering on the provisions of the charter, noting that for the two problems to be solved, African countries need to work with partners who have the technology and finance.
She said
Meanwhile, notable global philanthropies, at the weekend, announced plans to invest
The philanthropies, which include the
Their announcement comes as
Climate experts say that including methane efforts in a legally binding summit agreement is a priority. While methane has more warming potential than carbon dioxide, it breaks down in the atmosphere within just years compared with decades for CO2. That means that reining in methane emissions can have a more immediate impact in limiting climate change.
Methane is emitted from a variety of sources, including oil and gas production, agriculture, landfills and food waste.
"With time short, we must be smart and decisive about how we stay below a 1.5-degree warmer world. One smart way will be for all to commit to ending methane leakages now and to regulate, urgently, all other super pollutants," said
While more than 150 countries have promised since 2021 to slash their methane emissions 30 per cent from 2020 levels by 2030 under the
Research firm, Kayrros, which tracks methane emissions, said on Friday that despite the pledge, emissions of methane are not coming down, and in some places, they are actually going up.
"We've been calling for an outright ban on super-emitters. Rapid cuts in methane emissions from fossil fuels could lead to a reduction of 0.1°C in global temperature rise by mid-century," said
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