Fifty oil companies are pledging to reach near-zero methane emissions.
DUBAI, United Arab Emirates — Fifty oil companies representing nearly half of global production have pledged to reach near-zero methane emissions and end routine flaring in their operations by 2030, the president of this year's United Nations climate talks said Saturday, a move that environmental groups called a “smokescreen."
Methane emissions are a significant contributor to global warming, so sharply reducing them could help slow temperature rise. If the companies carry out their pledges, it could trim one-tenth of a degree Celsius (0.18 degrees Fahrenheit) from future warming, a prominent climate scientist calculated and told The Associated Press. That is about how much the Earth is currently warming every five years.
The announcement by Sultan al-Jaber, president of the climate summit known as COP28 and head of the Abu Dhabi National Oil Co., comes as he and others have insisted his background would allow him to bring oil companies to the negotiating table. Al-Jaber has maintained that having the industry's buy-in is crucial to drastically slashing the world’s greenhouse emissions by nearly half in seven years to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) compared with pre-industrial times.
Signing on to the pledge were major national oil companies such as Saudi Aramco, Brazil's Petrobras and Sonangol, from Angola, and multi-nationals like Shell, TotalEnergies and BP.
“The world does not work without energy,” said al-Jaber, speaking in a session on the oil industry. “Yet the world will break down if we do not fix energies we use today, mitigate their emissions at a gigaton scale, and rapidly transition to zero carbon
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