Monday 14 November 2022

COP27: UK joins countries to commit to slashing emissions from oil and gas

The UK has joined the US, EU, Japan, Canada, Norway and Singapore to commit to taking rapid action to reduce greenhouse gas emissions from the oil and gas industry.

The nation signed up to the joint declaration from energy importers and exporters on cutting fossil fuel emissions at the COP27 climate summit in Egypt last week, pledging to address the dual climate and energy security crises.

They have committed to reduce emissions associated with fossil energy production and consumption, particularly to slash methane emissions.

The countries emphasise that reducing methane and other greenhouse gas emissions from the fossil energy sector enhances energy security by cutting avoidable routine flaring, venting and leakage that wastes natural gas, in addition to improving health outcomes by eliminating black carbon and other associated air pollutants.

The nations are calling on fossil energy importers to take steps to reduce the methane emissions associated with their energy consumption, as well as fossil energy producers to implement projects and support policies and measures to achieve emissions reductions.

The joint declaration states: “We affirm the need to accelerate global transitions to clean energy, recognising that reliance on unabated fossil fuels leaves us vulnerable to market volatility and geopolitical challenges.

“We also recognise that under IPCC 1.5°C-aligned scenarios, fossil fuel consumption will persist, at rapidly declining levels, as the global energy transition unfolds. As such, we emphasise that dramatically reducing methane, CO2 and other greenhouse gas emissions across the fossil fuel energy value chain is a necessary complement to global energy decarbonisation in order to limit warming to 1.5°C.”