Energy Exchange

The next major ESG opportunity for investors in Europe

In recent years, institutional investors have demonstrated their formidable influence, as companies respond to investor environmental, social and governance demands and governments take note of forceful investor calls to action. Europe’s leading investors have been especially active, stepping to the vanguard to address the climate crisis with a sense of urgency and injection of ambition.

As Europe pursues its bold “Green Deal,” European investors have a powerful chance to help address a climate blind spot and policy vacuum to ensure worthy climate goals are not derailed. Investors can do so in a way that generates shareholder value while mitigating one of the largest near-term sources of climate risk. The opportunity lies in addressing methane emissions from the global oil and gas industry, which emits more than 75 million metric tons of the greenhouse gas every year.

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Also posted in Europe, Methane, Natural Gas / Comments are closed

EPA’s methane rollback sparks opposition from a diverse group of stakeholders

Over the last few months the Environmental Protection Agency has accepted comments on its proposal to deregulate methane from the oil and gas industry. And based upon the volume and content of comments they have received, the agency should realize opposition to this proposal is both widespread and strong.

It is no surprise that more than 300,000 commenters weighed in to oppose this harmful proposal when you consider that EPA themselves admit it will lead to millions of tons of additional air pollution and potentially prevent any future federal methane regulation of hundreds of thousands of older oil and gas facilities. Not to mention that this proposal will supercharge climate change due to the fact that methane is an extremely potent greenhouse gas, responsible for a quarter of the warming that we are experiencing today, and the oil and gas sector is the largest industrial source of methane pollution.

EPA heard from EDF and other environmental groups, but they also heard from a diverse range of other powerful voices explaining why they oppose this rollback.

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Also posted in Air Quality, Natural Gas, New Mexico / Comments are closed

New mapping tool shows who will be impacted by EPA’s dangerous methane rollback

A few months ago, the Environmental Protection Agency released their proposal to eliminate regulation of methane emissions from new and modified sources across the oil and gas sector and attempt to preclude future federal regulation of the vast number of older sources in the industry.

EDF and a coalition of other concerned public health and environmental organizations submitted detailed comments to the EPA during the public comment period that ended last month, underscoring that the Trump EPA proposal is deeply flawed and unlawful. The proposal is essentially an attempt to dodge the agency’s responsibilities under the Clean Air Act and ignores the extensive scientific evidence that pollution from the oil and gas sector is a public health threat.

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Also posted in Air Quality / Comments are closed

New companies oppose methane rollbacks but industry divide remains

The stakes are high for businesses to support strengthened Environmental Protection Agency methane regulations.

While there are multiple pathways to achieve a net zero carbon emissions future by 2050 in the U.S., it’s clear that the oil and gas industry can and must virtually eliminate methane emissions. Not only is methane control an environmental priority, it is the most immediate and cost-effective decarbonization option for natural gas. Action on methane is a litmus test of industry’s ability to make necessary changes, and build the muscle to support responsible public policy that cuts emissions and stimulates innovation.

The late November close of the comment period on EPA’s proposal to eliminate methane regulation and exempt large segments of industry from pollution control requirements shows a growing industry divide. A review of industry filings to EPA reveals three game changers for the politics and policy of federal methane regulation.

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Also posted in Natural Gas / Comments are closed

Methane regulations can help transform Mexico’s energy sector

One year ago this week, Mexico took an immense step forward by passing the world’s most comprehensive regulations to reduce oil and gas methane emissions. Since then, oil and gas companies and the Mexican government have been collaborating to develop concrete plans to make this happen and to ensure that the country is on track to deliver on its climate goals. In June 2016 Mexico, along with the US and Canada, committed to reducing methane emissions from the oil and gas sector by 40-45% by 2025, a target that is in line with the stated goals of the United Nations’ Convention on Climate Change.

But, is this enough? That is a question Mexico’s government and its national oil company, Pemex, should be asking today, because the country deserves more.

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Also posted in Air Quality, Methane, Texas / Comments are closed

Pennsylvania has an opportunity to lead on methane as EPA falters

Last week, the Environmental Protection Agency held a public hearing on its proposal to gut key regulations that reduce climate-damaging methane emissions, and protect communities from pollution from oil and gas development. Methane, an extremely potent greenhouse gas responsible for 25% of current global warming, is also the main component of natural gas, which is an important energy resource in Pennsylvania.

Pennsylvania is the second-largest natural gas producing state in the U.S. and should act now to ensure its residents do not lose key protections put in jeopardy by the federal government. Gov. Wolf recently committed to join the ranks of states working to limit carbon pollution. By joining the many other oil and gas producing states across the country stepping up to cut methane pollution from existing oil and gas infrastructure, Pennsylvania has a chance to lead by quickly advancing their current rule proposal.

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Also posted in Methane, Natural Gas, Pennsylvania / Comments are closed