As a part of the 2014 United Nations (“UN”) Climate Summit recently held in New York City, six energy companies have agreed to develop initiatives to cut back on methane emissions. The announcement was made by U.S. based Southwestern Energy Company, along with Statoil ASA, a Norwegian oil company; BG Group PLC, an international exploration and production and liquid natural gas company headquartered in the U.K.; Petroleos Mexicanos or PEMEX, the Mexican state-owned petroleum company; PTT PLC, owned by the government of Thailand; and Eni SpA, an integrated energy company headquartered in Italy. These companies signed on to the UN Climate and Clean Air Coalition’s Oil and Gas Methane Partnership, which will partner with more than a dozen countries to reduce methane gas emissions during drilling and transmission of oil and gas.
Other significant initiatives or goals announced at the Summit included the following:
- United States – President Obama signed an executive order directing all federal agencies to begin factoring climate change initiatives into all international development programs or investments.
- European Union – pledged to cut emissions by 40% by 2030.
- United Kingdom – pledged to cut emissions by 80% by 2050.
- Belgium – pledged to cut emissions by 85% by 2050.
- Indonesia – pledged to cut emissions by 20% by 2020.
- Mexico – pledged that by 2018, one-third of its electricity will be generated from renewable sources.
For more information on the UN Climate Summit, see the UN’s website at www.un.org/climatechange/summit/, or contact Toni Ellington at (504) 599-8500.
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