RECENT LOCATIONS

Close
Add a location
Edit your saved locations

Climate and Clean Air Coalition aims to reduce industrial emissions


A smoke stack in Sudbury, Ontario (courtesy: Pierre Lachapelle)
A smoke stack in Sudbury, Ontario (courtesy: Pierre Lachapelle)

Staff writers

February 3, 2013 — Last week, countries around the world released a joint statement calling to reduce methane and black carbon emissions from oil and gas companies.

An estimated 8 percent of the world's total natural gas production is lost to venting, leakage and flaring each year
An estimated 8 percent of the world's total natural gas production is lost to venting, leakage and flaring each year

According to the United Nations Environment Programme, an estimated 8 percent of the world's total natural gas production is lost to venting, leakage and flaring, accounting for up to U.S. $63 billion in losses and almost two gigatons of greenhouse gas emissions each year.

Last week, countries around the world released a statement announcing that "accelerated actions" will be taken to drastically reduce this waste.

"Methane venting and leakage from oil and gas production results in substantial economic and environmental costs," said Stephanie Pfeifer, executive director of the Institutional Investors Group on Climate Change, in a statement.

"Investors are concerned with these costs and have been working with companies to ensure methane leakage is measured and effectively tackled ... alongside governments and industry, we look forward to making further progress on this issue in the coming months."

So far 50 countries, including Canada, have signed on to participate in the Climate and Clean Air Coalition.

The initiative was launched by the UN in February 2012.

Sign in or Sign up to submit a comment.




Comments





Take your weather with you, no matter where you go.

Get instant forecasts and alerts, right on your computer.

  • RSS & Data
Add weather updates to your website or RSS reader.