This Time Methane... US and EU to Cut 30% by 2030

(Photo by WSJ)

[Asia Economy Reporter Yujin Cho] The United States and the European Union (EU) are pushing for methane gas reduction regulations following carbon dioxide to combat climate change.

On the 14th (local time), the Wall Street Journal (WSJ), citing sources, reported that senior officials from the US and the EU have reached an agreement to reduce global methane emissions by one-third by 2030.

The core of this plan, called the "Global Methane Pledge," is to reduce methane gas emissions to at least 30% of last year's levels by 2030.

WSJ, citing sources familiar with the matter, stated that senior US and EU officials have reached this agreement, and US President Joe Biden is expected to officially propose it at the upcoming greenhouse gas emitting countries meeting on the 17th.

President Biden pledged during his candidacy to impose stricter regulations on greenhouse gas emission sources, and the US Environmental Protection Agency (EPA) is expected to soon release methane-related regulations under the Clean Air Act (CAA).

Methane gas is considered the second most impactful greenhouse gas on climate change after carbon dioxide.

US and EU officials plan to encourage participation from other major oil producers, including China and Russia, at the United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties scheduled to be held in Glasgow, Scotland, this November.

If this pledge is announced, it is expected to significantly impact global oil companies, as methane emissions are known to be substantial during crude oil and natural gas drilling, storage, and transportation processes.

WSJ analyzed that it could also have a major impact on the energy, agriculture, and waste industries, which bear primary responsibility for methane gas emissions.

This content was produced with the assistance of AI translation services.