February 4, 2016 by Amy Bowman
As much as $30 billion lost annually in escaped methane
The management of methane within oil and gas operations is not only an environmental duty, it’s a fiscal imperative as well.
A recent study from the Rhodium Group finds that the oil and gas sector loses as much as $30 billion a year in leaked or vented methane gas.
Similar to the opacity of large producers with regard to their environmental disclosures, none of the largest U.S. companies disclose the financial impact of methane losses, according to recent research from the Environmental Defense Fund. Further, there are no disclosures about corporate targets for reducing methane emissions.
From the EDF report:
There is a stark but addressable disconnect between the outsized importance of methane as a climate and reputational risk and the scant disclosure it receives in today’s corporate reporting practices. With public pressure rising on fossil fuel companies generally, and investor demands increasing for better climate risk disclosure, the time is ripe to improve methane disclosure on the path toward comprehensively addressing the issue.
The full webinar, Rising Risk, is posted below.