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31 May 2022 15:00—16:30 Paris Time Report launch

Driving down methane emissions from fossil fuel operations in Latin America

Methane is responsible for near 30% of the global rise in temperatures to date. According to the IEA’s Global Methane Tracker 2022, globally around 40% of methane emissions from human activity comes from the energy sector. IEA estimates show that there is huge potential to abate these emissions rapidly and cost-effectively. Across Central and South America, around 45% of these emissions can be abated at no net cost.

Experience around the world has shown that these emissions can be greatly reduced using proven technologies and policies, and many countries in the Americas have joined the Global Methane Pledge, which aims to reduce global human-caused methane emissions by 30% from 2020 levels by 20301. Several countries have also announced regulatory actions in this regard. Mexico, for example, approved regulations in 2018 that require operators in the oil & gas sector to develop a program to limit emissions. Similarly, in 2022, Colombia finalised regulations that aim to reduce fugitive emissions and flaring from upstream oil and gas activities.

To support policy makers looking to develop new policies aimed at reducing methane from fossil fuel operations, the IEA released Driving Down Methane Leaks from the Oil and Gas Industry: A Regulatory Roadmap and Toolkit in January 2021. Since then, we have worked to translate this publication into other languages, to reach a broader audience. On the occasion of the launch of the Spanish translation, the IEA is bringing key voices from the Latin America fossil fuel sector to discuss this important topic. Panellists will explore how policy and regulation can drive emissions reduction in the region and how voluntary action by industry can complement these efforts.

Simultaneous interpretation in English and Spanish will be available.