Canada needs to get as close as possible to eliminating methane emissions by the end of this decade to help reach its net-zero goal. Federal and provincial governments should set more ambitious targets to reduce methane emissions and implement the policies to achieve them. The technologies to drastically cut emissions of this harmful pollutant are commercially available and economic.
Summary
- Canada should set a 2030 methane reduction target of at least 75% below 2012 levels.
- This is supported by analysis from the Canadian Energy Research Institute which shows that Canada can reduce methane emissions from the oil and gas sector by 80% from 2012 levels for less than $25/t CO2e.
- The International Energy Agency agrees that reducing global methane by 75% by 2030 is a key to achieving net-zero and that the economic solutions exist today.
- Globally, making big cuts to methane emissions can slow the rate of global warming by 30%.
- Methane reduction strategies can improve air quality, food security, and labour productivity.
- For oil and gas companies, cutting methane is an opportunity to differentiate themselves, as environmental performance is increasingly becoming important to consumers and investors.
- Canadian products and services that are created using natural gas as a feedstock or energy source would be substantially lower carbon on a life cycle basis if Canada were to adopt improved methane regulations.
