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Controlling methane emissions in the oil and gas sector

Controlling methane emissions in the oil and gas sector

Full Title:  Controlling methane emissions in the oil and gas sector
Author(s):  Investor Group on Climate Change
Publisher(s):  Investor Group on Climate Change
Publication Date: January 1, 2012
Full Text: Download Resource
Description (excerpt):

IIGCC, INCR and IGCC represent nearly 200 institutional investors with $20tn of assets that share a common concern about climate change. Climate change presents major long-term risks to the global economy and to the assets in which we invest. Methane emissions from the oil and gas sector are significant and growing rapidly.1 The high global warming impact of methane raises significant climate change concerns, and consequent regulatory and reputation risks for the oil and gas sector. Leading companies have demonstrated that the majority of fugitive methane emissions can be avoided at low cost via implementation of best practice technologies. Effective steps to minimize methane emissions by the oil and gas sector will significantly help reduce the sector’s overall greenhouse gas emissions, and increase public confidence in the environmental integrity of the industry’s activities. As shareholders in the oil and gas sector, we therefore support and encourage action by companies to implement effective controls of vented and fugitive methane emissions. We are calling on governments in oil and gas producing nations to consider whether they have effective regulations in place to minimize methane emissions. We are calling on intensive gas users and governments in oil and gas importing regions to consider whether they can play a role in encouraging control of methane emissions.

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