Smart money: Top investors press oil & gas companies to tackle methane emissions

A global group of 30 leading institutional investors coordinated by the PRI (Principles for Responsible Investment) has announced a new initiative that will encourage oil and gas companies, including gas utilities, around the world to initiate or improve efforts to measure, report, and reduce methane emissions.

The move is the latest evidence that investors are concerned with the financial, reputational and environmental risks associated with unmonitored and unchecked methane venting and leakage.

Methane is a potent greenhouse gas with over 80 times the warming power of carbon dioxide over a 20-year timeframe. It’s responsible for about 25% of the warming our planet is experiencing today. Globally, the oil and gas industry is among the largest man-made sources of methane.

Methane is also the main ingredient in the natural gas, the product that major global producers have marketed to investors as central to their growth in the years ahead. Companies tout gas as a clean, low-carbon fuel, ignoring the vast amounts of unburned methane escaping from their systems each year, or the lack of transparency with regard to monitoring and reduction strategies.

The owners and asset managers involved in the PRI’s methane initiative oversee more than $3 trillion. They are global in scope, representing a dozen countries across North America, Europe and Asia-Pacific. PRI plans to engage 29 companies on four continents, from across the natural gas supply chain (the names aren’t being made public). They will be urging greater transparency and stronger, more concrete actions, including setting methane targets and participating responsibly on methane policy. Read More »

Posted in Methane, Natural Gas| Read 1 Response

How a digital dashboard could make cities’ power, water smarter

By: Jori Mendel, AT&T Smart Cities, and Chandana Vangapalli, former Environmental Defense Fund Climate Corps Fellow

Technology revolutionizes the way people interact with the world. From video chats to securing homes from thousands of miles away, digital connections bring us closer to what matters most.

This same connectivity can play a critical role in helping cities around the world in the fight against climate change – a fight that will only accelerate in the coming years, with cities and municipalities on the front lines.

Nearly 60 percent of the world’s population will live in cities by 2030. These urban areas already account for 60-80 percent of energy consumption and 75 percent of carbon emissions, and their impacts will worsen with expansion. Because of their population density, cities are also the most likely to be heavily impacted by water shortages, natural disasters, and heatwaves as climate change progresses.

Smart cities

Understanding how to mitigate these environmental impacts is vital, and the technology that enables cities to be “smart” is a big part of that. Technology can help communities around the world become cleaner, safer, and stronger through connectivity solutions that unlock environmental, social, and economic benefits. Read More »

Posted in Clean Energy, Climate, Data Access, Energy Efficiency, Energy Innovation, Energy-Water Nexus| Comments are closed

Numbers don’t lie – finding and fixing methane leaks create jobs across North America

By Isabel Mogstad

Even though Washington policies may be in full retreat concerning the environment, the world’s energy economies are moving toward the future. Growing opportunities in the methane management technology and services industry is one example, where new well-paying jobs in the industry are being created across the U.S. and Canada. These are jobs that could soon be in high demand in other energy-producing countries.

Billions of dollars’ worth of methane – the primary component of natural gas – is escaping from the world’s oil and gas value chain every year. With proven and low-cost fixes readily available from the methane mitigation industry, global methane emissions represent $10 billion in potential revenue for the oil and gas industry.

Two of the top five polluting countries globally, the U.S. and Canada, are showing there is an economic upside to eliminating methane waste by tapping the offerings of this emerging new industry.

Nearly 180 companies provide methane waste and pollution reduction technologies and services in Canada, according to a new job opportunities report released last week by the Methane Emissions Leadership Alliance (MELA), an association for the Canadian methane emissions management industry. Read More »

Posted in General, Methane, Natural Gas| Tagged | Comments are closed

How blockchain could upend power markets

Talk about a disruptive technology. The “world's leading software platform for digital assets,” blockchain may be little known, but it could revolutionize electricity markets.

What is blockchain?

Blockchain, in short, is a secure, decentralized, and highly efficient way to manage and keep track of infinite transactions. Rather than being stored on a central server, peer-to-peer transactions are replicated across a number of computers, creating a data store that records exchanges in almost real time. To ensure the transactions are secure, authenticity and identity are maintained through cryptography and digital signatures.

Bitcoin – perhaps the most-recognized blockchain application – already is challenging conventional money exchangers. According to Cambridge University researchers, almost 6 million people use this cryptocurrency in order to make electronic peer-to-peer transactions without an intermediary such as a bank. And because blockchain technology is decentralized and accessible from multiple locations, Bitcoin funds can’t be frozen, withheld, seized, or taken.

New electricity opportunities

When it comes to electricity, blockchain could offer a reliable, rapid, and low-cost means to record and validate financial and operational transactions. These transactions could include selling and buying electricity – again without an intermediary, in this case the incumbent utility monopoly. In light of the rapid rise of distributed (decentralized) energy resources like batteries and solar panels, some analysts even believe the market for blockchain applications is significantly larger in the energy sector than for financial services. Read More »

Posted in Clean Energy| Read 1 Response

California’s clean-energy leadership continues

California is a leader, and has earned that title – it is the largest state economy in the U.S. and the sixth-largest economy in the world.  Forward-thinking clean energy policies are the backbone of California’s prosperity, creating jobs and businesses for the state while cutting emissions. While the presidential administration assaults critical environmental protections nationwide, clean energy momentum is unstoppable. California’s leadership is committed and poised to move forward.

Energy policy drives economic growth

Most energy policy is done at the state level, reflecting that energy management is a fundamental concern for local residents and their livelihoods. How we make, move, and use power can create jobs and protect citizens’ rights to clean air and energy choice. The following bills currently in front of the California State Legislature illuminate the state’s path forward: Read More »

Posted in California, Clean Energy, Electric Vehicles, Energy Efficiency, Solar Energy| Read 1 Response

New studies: Methane emissions from Canadian oil & gas industry are worse than reported

Two studies released this week make it clear that Canada’s push toward methane regulations for the oil and gas industry is a smart move. And, while data of Canada’s oil and gas methane problem is still limited, these studies reinforce what research of the U.S. oil and gas industry found: oil and gas facilities are leaking far more than the industry reports — and more than it would like us to believe.

The first study, focused on Alberta and released by the Canadian environmental action organization Environmental Defence, concluded that industry is underreporting the amount of equipment located at their facilities, which means they emit more than official emission inventories report. Additionally, the study found that Alberta’s oil and gas facilities average about one large emission source per well.

The second, conducted by the David Suzuki Foundation and focused in British Columbia, measured methane emissions at existing oil and gas facilities and found that emissions are large and widespread. In fact, in just one development area of British Columbia, facilities could leak 111,800 tons of methane each year – the climate pollution equivalent of burning more than 4.5 million tons of coal or more than two million cars over the next two decades. Further, methane emissions from this area were shown to be at least 2.5 times higher than reported by the B.C. government but may be much higher.

This new research is troubling for several reasons. Read More »

Posted in General, Methane, Natural Gas| Tagged , | Comments are closed
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