US, EU launch Global Methane Pledge Energy Pathway
The US, the EU and 11 other countries launched on June 17 that Global Methane Pledge Energy Pathway, aimed at accelerating the deployment of fast and cost-effective methane solutions in the oil and gas sector.
The pathway will encourage all nations to "capture the maximum potential of cost-effective methane mitigation in the oil and gas sector," as well as eliminate routing flaring as soon as possible, and no later than 2030, the US and the EU said in a joint statement.
Countries and organisations participating in the pathway have committed $59mn of dedicated funding and in-kind assistance to support the effort. This includes $4mn for the World Bank Global Gas Flaring Reduction Partnership, $5.5mn for the Global Methane Initiative, $9.5m in funds from the UNEP International Methane Emissions Observatory to assess methane emissions and mitigation potential, and up to $40mn annually from the Global Methane Hub to fund mitigation efforts.