California public school teachers. Religious charities. New York police officers and firefighters.
What do all of these groups have in common? Investors representing them — who manage $1.5 trillion in retirees, current employees’, and others assets – are standing together and calling for strong rules limiting harmful methane emissions from the oil and gas sector. This level of outpouring – from diversified investors with holdings in the oil and gas industry – represents five times the support investors expressed for methane rules last year. A trend is emerging.
The investors, including the largest retirement funds in California and New York, issued a powerful statement in support of the president’s methane proposal aimed at cutting emissions nearly in half in a decade. A centerpiece is regulation of methane, the primary ingredient in natural gas, which has over 80 times the warming power of carbon dioxide in the first 20 years after it’s released and is responsible for 25 percent of the warming we are feeling today. Read More
Six large European oil and gas companies recently announced a commitment to engage on climate policy, calling for a price on carbon. The now-emerging picture of their coordinated corporate talking points, however, leaves no doubt that promotion of natural gas is a core part of the group’s position.
Is this development a beneficial push to help the planet transition to a low carbon economy – or just another marketing campaign? The truth, so far, lies somewhere in between.
Here are the good, the bad and the ugly highlights of what we’ve learned over the past week and what it all means. Read More
Europe’s largest oil companies are reportedly working together on a policy strategy leading up to this year’s international climate talks in Paris. It’s nice to hear that some of the biggest players in the global oil and gas industry want to engage in solutions, but it remains to be seen if they will take the action needed to effectively tackle some of our most immediate climate threats – or to seize a major untapped opportunity.
That opportunity is methane. The highly potent greenhouse gas that’s been largely ignored until recently represents a solution for making real and immediate progress to slow warming. So will the group of oil companies sign on to tackle methane as a big part of its strategy, or are they going to ignore it?
Too much ink has been spilled on the anti-climate furor of the Koch brothers. If we lose on climate, it won’t be because of the Koch brothers or those like them.
It will be because too many potential climate champions from the business community stood quietly on the sidelines at a time when America has attractive policy opportunities to drive down economy-endangering greenhouse gas emissions.
Corporate executives have the savvy to understand the climate change problem and opportunity. They have the incentive to tackle it through smart policy, and the clout to influence politicians and policy makers. Perhaps most importantly, they can inspire each other.
And today, they have a chance to do what they do best: lead. Corporate climate leadership has nothing to do with partisanship – it’s ultimately about business acumen.
For starters, here are three immediate opportunities smart companies won’t want to miss. Read More
After months of anticipation, the Obama Administration this month released its new methane emissions strategy – a plan that opens up new opportunities for industry writ large, and especially for operators that want to cut waste and get ahead.
The centerpiece of the strategy are imminent rules that will help us meet a new national goal to reduce harmful methane pollution from oil and natural gas operations by 45 percent by 2025.
But the rules also bring direct industry benefits. Here are four reasons the new methane emissions strategy is a boon, rather than bane, for America’s $1.2-trillion oil and gas sector:
1. It tackles $1.8 billion in annual waste and adds market certainty
Leaky infrastructure and unnecessary venting across the oil and gas value chain cost an estimated $1.8 billion in wasted product and lost revenue annually.
The new rules require companies to include up-to-date controls as they build out new and modified infrastructure, keeping gas in the pipeline while making new facilities more efficient. Read More
Source: MIssy Schmidt/Flickr
The technologies we see today didn’t all start out in the forms we’re used to. The phones we carry in our pockets used to weigh pounds, not ounces. Engineers developed hundreds of designs for wind turbines before landing on the three-blade design commonly seen in the field.
Fast forward and now we're looking at a drunk-driver-and-alcohol sensor that was converted into a methane leak detector. And a sensor purchased off the web for less than $30 that was transformed into a monitor that fights off greenhouse gases.
I was excited to see the diversity of technologies such as these moving forward in the Methane Detectors Challenge. Read More