Global Methane Tracker 2024

18.03.2024

Global Methane Tracker 2024 , Daily Current Affairs , RACE IAS : Best IAS Coaching in Lucknow

Why in the news?

   Recently, the International Energy Agency (IEA) has released the Global Methane Tracker 2024.

Important points:

• The world needs to cut methane emissions from fossil fuels by 75 percent by 2030 to achieve the Paris Agreement goal of limiting temperature rise to 1.5 degrees Celsius.

About Global Methane Tracker:

• The Global Methane Tracker is an annual report released by the International Energy Agency (IEA).
• It provides the latest data on methane emissions from the energy sector, including new scientific studies, measurement campaigns and satellite-collected information.

Key Features of the 2024 Report:

• Methane emissions from fuel use were set to peak near 120 million tonnes (Mt) in 2023, according to the International Energy Agency (IEA)'s Global Methane Tracker 2024.
• Large methane emissions are expected to increase by more than 50 percent in 2023 compared to 2022.
• Of the 120 million tonnes of methane released into the atmosphere, about 80 million tonnes came from the top 10 emitting countries.
• The United States, being the largest emitter of methane from oil and gas operations, tops the list, followed by Russia.
• China leads in emissions from coal operations.
• To achieve the Paris Agreement goal of limiting warming to 1.5 degrees Celsius, the world needs to reduce methane emissions from fossil fuels by 75% by 2030.
• The IEA estimates that this target would require spending about $170 billion, which is less than 5% of the income generated by the fossil fuel industry in 2023.

                                                           Source: Down to earth