Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Trading > Exclusive: U.S., EU pursuing global deal to slash planet-warming methane – documents
    Trading

    Exclusive: U.S., EU pursuing global deal to slash planet-warming methane – documents

    Exclusive: U.S., EU pursuing global deal to slash planet-warming methane – documents

    Published by maria gbaf

    Posted on September 14, 2021

    Featured image for article about Trading

    By Kate Abnett and Valerie Volcovici

    BRUSSELS/WASHINGTON (Reuters) – The United States and the European Union have agreed to aim to cut emissions of the planet-warming gas methane by around a third by the end of this decade and are pushing other major economies to join them, according to documents seen by Reuters.

    Their pact comes as Washington and Brussels seek to galvanize other major economies ahead of a world summit to address climate change in Glasgow, Scotland, in November, and could have a significant impact on the energy, agriculture and waste industries responsible for the bulk of methane emissions.

    The greenhouse gas methane, the biggest cause of climate change after carbon dioxide (CO2), is facing more scrutiny as governments seek solutions to limit global warming to 1.5 degrees, a goal of the Paris climate agreement.

    In an attempt to jumpstart the action, the United States and the EU later this week will make a joint pledge to reduce human-caused methane emissions by at least 30% by 2030, compared with 2020 levels, according to a draft of the Global Methane Pledge seen by Reuters.

    “The short atmospheric lifetime of methane means that taking action now can rapidly reduce the rate of global warming,” the draft said.

    A separate document listed over two dozen countries that the United States and the EU will target to join the pledge. They include major emitters such as China, Russia, India, Brazil and Saudi Arabia, as well as others including Norway, Qatar, Britain, New Zealand and South Africa.

    The U.S. State Department declined to comment and the European Commission did not immediately respond to a request for comment on the documents.

    The agreement would likely be unveiled on Friday at a meeting of major emitting economies intended to rally support ahead of the COP26 Glasgow summit.

    World leaders are under pressure from scientists, environmental advocates and growing popular sentiment to commit to more ambitious action to curb climate change in Glasgow.

    Methane has a higher heat-trapping potential than CO2 but it breaks down in the atmosphere faster, so “strong, rapid and sustained reductions” in methane emissions in addition to slashing CO2 emissions can have a climate impact quickly, a fact emphasized by a report by the Intergovernmental Panel on Climate Change last month.

    Experts say the fossil fuel sector has the biggest potential to cut methane emissions this decade by mending leaky pipelines or gas storage facilities, and many of those fixes can be done at a low cost.

    Yet satellite images and infrared footage have in recent years revealed methane emissions spewing out of oil and gas sites in countries including the EU https://www.reuters.com/business/environment/exclusive-gas-infrastructure-across-europe-leaking-planet-warming-methane-video-2021-06-24, Mexico https://www.reuters.com/world/americas/mexican-methane-leak-rate-alarming-climate-change-report-says-2021-07-28 and the United States. https://www.reuters.com/business/energy/most-flares-texas-permian-oil-drilling-lack-permits-study-2021-08-19

    The United States and EU are both due to propose laws this year to restrict methane emissions.

    The U.S.-EU pledge would cover key sources of methane emissions, including leaky oil and gas infrastructure, old coal mines, agriculture and waste such as landfills, the draft said.

    Countries that join the pledge would commit to take domestic action to collectively achieve the target methane cut, “focusing on standards to achieve all feasible reductions in the energy and waste sectors” and reducing agricultural emissions through “technology innovation as well as incentives and partnerships with farmers,” it said.

    (Reporting by Valerie Volcovici; Editing by Christopher Cushing, Leslie Adler and Sonya Hepinstall)

    By Kate Abnett and Valerie Volcovici

    BRUSSELS/WASHINGTON (Reuters) – The United States and the European Union have agreed to aim to cut emissions of the planet-warming gas methane by around a third by the end of this decade and are pushing other major economies to join them, according to documents seen by Reuters.

    Their pact comes as Washington and Brussels seek to galvanize other major economies ahead of a world summit to address climate change in Glasgow, Scotland, in November, and could have a significant impact on the energy, agriculture and waste industries responsible for the bulk of methane emissions.

    The greenhouse gas methane, the biggest cause of climate change after carbon dioxide (CO2), is facing more scrutiny as governments seek solutions to limit global warming to 1.5 degrees, a goal of the Paris climate agreement.

    In an attempt to jumpstart the action, the United States and the EU later this week will make a joint pledge to reduce human-caused methane emissions by at least 30% by 2030, compared with 2020 levels, according to a draft of the Global Methane Pledge seen by Reuters.

    “The short atmospheric lifetime of methane means that taking action now can rapidly reduce the rate of global warming,” the draft said.

    A separate document listed over two dozen countries that the United States and the EU will target to join the pledge. They include major emitters such as China, Russia, India, Brazil and Saudi Arabia, as well as others including Norway, Qatar, Britain, New Zealand and South Africa.

    The U.S. State Department declined to comment and the European Commission did not immediately respond to a request for comment on the documents.

    The agreement would likely be unveiled on Friday at a meeting of major emitting economies intended to rally support ahead of the COP26 Glasgow summit.

    World leaders are under pressure from scientists, environmental advocates and growing popular sentiment to commit to more ambitious action to curb climate change in Glasgow.

    Methane has a higher heat-trapping potential than CO2 but it breaks down in the atmosphere faster, so “strong, rapid and sustained reductions” in methane emissions in addition to slashing CO2 emissions can have a climate impact quickly, a fact emphasized by a report by the Intergovernmental Panel on Climate Change last month.

    Experts say the fossil fuel sector has the biggest potential to cut methane emissions this decade by mending leaky pipelines or gas storage facilities, and many of those fixes can be done at a low cost.

    Yet satellite images and infrared footage have in recent years revealed methane emissions spewing out of oil and gas sites in countries including the EU https://www.reuters.com/business/environment/exclusive-gas-infrastructure-across-europe-leaking-planet-warming-methane-video-2021-06-24, Mexico https://www.reuters.com/world/americas/mexican-methane-leak-rate-alarming-climate-change-report-says-2021-07-28 and the United States. https://www.reuters.com/business/energy/most-flares-texas-permian-oil-drilling-lack-permits-study-2021-08-19

    The United States and EU are both due to propose laws this year to restrict methane emissions.

    The U.S.-EU pledge would cover key sources of methane emissions, including leaky oil and gas infrastructure, old coal mines, agriculture and waste such as landfills, the draft said.

    Countries that join the pledge would commit to take domestic action to collectively achieve the target methane cut, “focusing on standards to achieve all feasible reductions in the energy and waste sectors” and reducing agricultural emissions through “technology innovation as well as incentives and partnerships with farmers,” it said.

    (Reporting by Valerie Volcovici; Editing by Christopher Cushing, Leslie Adler and Sonya Hepinstall)

    Related Posts
    What Is a Liquidity Provider – And Why Modern Brokers Can’t Function Without One
    What Is a Liquidity Provider – And Why Modern Brokers Can’t Function Without One
    OneFunded: Prop Firm Overview and Program Structure
    OneFunded: Prop Firm Overview and Program Structure
    What if You Can Actually Chat with Your Crypto Wallet?
    What if You Can Actually Chat with Your Crypto Wallet?
    The Growing Importance of Choosing the Right Crypto Broker in 2025
    The Growing Importance of Choosing the Right Crypto Broker in 2025
    The Rise of Algorithmic Trading Among Retail Investors in the UK
    The Rise of Algorithmic Trading Among Retail Investors in the UK
    Forex Trading for the 9-to-5er: A Realistic Path to a Second Income
    Forex Trading for the 9-to-5er: A Realistic Path to a Second Income
    Quality Matters: ZiNRai’s Focus on Empowering Traders with Precision and Purpose
    Quality Matters: ZiNRai’s Focus on Empowering Traders with Precision and Purpose
    MiCA Regulations and the Legal Requirements for Crypto Presales and Token Offerings in the European Union
    MiCA Regulations and the Legal Requirements for Crypto Presales and Token Offerings in the European Union
    Top Ways Forex Traders Benefit From Peer-to-Peer Learning
    Top Ways Forex Traders Benefit From Peer-to-Peer Learning
    Why High Leverage Remains Attractive to Forex Traders Worldwide
    Why High Leverage Remains Attractive to Forex Traders Worldwide
    XDC Network’s ETP Listing Signals the Maturing Convergence of Blockchain and Trade Finance
    XDC Network’s ETP Listing Signals the Maturing Convergence of Blockchain and Trade Finance
    Inside the Perp DEX Landscape: How Platforms Like Grvt and Hyperliquid Are Shaping Their Long-Term Vision
    Inside the Perp DEX Landscape: How Platforms Like Grvt and Hyperliquid Are Shaping Their Long-Term Vision

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Trading PostCairn to return $700 million to shareholders when India tax row resolved
    Next Trading PostGlobal stock markets edge higher on U.S., European markets

    More from Trading

    Explore more articles in the Trading category

    Blending Theory and Practice: Building Stronger Forex Strategies

    Blending Theory and Practice: Building Stronger Forex Strategies

    Strategies for Professional CFD Traders: Tools and Company Support

    Strategies for Professional CFD Traders: Tools and Company Support

    Trust as the Cornerstone of Capital Markets

    Trust as the Cornerstone of Capital Markets

    UK Investors Reassess Trading Venues as Liquidity Shifts

    UK Investors Reassess Trading Venues as Liquidity Shifts

    Bitcoin Price Live: What Factors Influence Its Value?

    Bitcoin Price Live: What Factors Influence Its Value?

    Offshore Forex Brokers vs. U.S.-Regulated Brokers: A Risk Assessment

    Offshore Forex Brokers vs. U.S.-Regulated Brokers: A Risk Assessment

    The Broker Expo, Its Role in the Small Business World, and Everest Business Funding’s Role as Sponsor

    The Broker Expo, Its Role in the Small Business World, and Everest Business Funding’s Role as Sponsor

    Finding Your Edge with a Crypto-First Prop Firm

    Finding Your Edge with a Crypto-First Prop Firm

    Evaluating the Most Reliable Tools for Tracking Real-Time Cryptocurrency Prices

    Evaluating the Most Reliable Tools for Tracking Real-Time Cryptocurrency Prices

    MT5 vs MT4: Why More Brokers Are Moving to MetaTrader 5

    MT5 vs MT4: Why More Brokers Are Moving to MetaTrader 5

    From Central Banks to Retail Traders: Who Drives the Forex Market?

    From Central Banks to Retail Traders: Who Drives the Forex Market?

    Building a Winning Forex Portfolio: Tools and Resources You Can’t Ignore

    Building a Winning Forex Portfolio: Tools and Resources You Can’t Ignore

    View All Trading Posts