BAKU, Azerbaijan, October 7. The International Energy Agency (IEA) has identified over 60 countries able to collectively reduce greenhouse gas emissions by an additional 1.2 gigatons (Gt) of carbon dioxide (CO2) equivalent by 2030 through the implementation of methane commitments in their updated Nationally Determined Contributions (NDCs) due by February 2025, Trend reports via IEA's website.
"This volume is comparable to eliminating all greenhouse gas emissions from international aviation and shipping," the IEA experts said.
The IEA's statement noted that fossil fuel activities (extraction and transportation) led to methane emissions of around 120 million tons in 2023, accounting for over one-third of total methane emissions from anthropogenic activities.
According to the statement, cutting these emissions by 75 percent by 2030 is vital to limit warming to 1.5 °C, as called for by the Paris Agreement.
If all existing pledges on methane—such as the Global Methane Pledge and the Oil and Gas Decarbonization Charter, which have been signed by more than 50 companies—were to be implemented in full and on time, methane emissions from fossil fuels would decline by around 50 percent between 2023 and 2030, but as of today, the detailed implementation plans that are in place—including in countries’ NDCs—would cut emissions from fossil fuel operations by only around 20 percent by 2030, the IEA emphasized.
As the statement said, currently, nearly 160 countries have joined the Global Methane Pledge, but most countries still need to develop detailed policies and regulations to achieve these reductions.
The IEA also noted that it and the COP29 presidency organized a series of events in New York and Baku to discuss the issue of reducing methane emissions.
At COP29, scheduled for November 11-22 in Baku, a dedicated day is planned to address methane emissions, with the signing of a Methane Declaration anticipated.
