This week at the United Nations Secretary General's Climate Ambition Summit, world leaders and ministers addressed the role that methane emissions play as one of the key drivers contributing to the increase in extreme climate-related weather events worldwide. Cutting oil and gas methane emissions is one of the fastest and most cost-effective ways to combat climate change. Methane, a potent but relatively short-lived greenhouse gas, is 86 times more harmful than carbon dioxide over a 20-year period. Reducing methane emissions across the economy is a priority for Canada.
Today, during an event hosted by the Global Methane Hub and Google.org in New York City, on behalf of the Honourable Steven Guilbeault, Minister of Environment and Climate Change, Catherine Stewart, Canada's Ambassador for Climate Change, announced that Canada will exceed its target of reducing methane emissions from the oil and gas sector by at least 75 percent from 2012 levels by 2030.
The upstream oil and gas methane regulations will be published in draft form later this fall. They will achieve significant methane emission reductions from new and existing upstream oil and gas facilities through performance standards, and a risk-based approach for leak detection and repair (LDAR) with increased stringency for sites with the highest risk of unintentional releases (fugitive emissions).
This announcement builds on complimentary regulatory approach to oil and gas methane emissions that also includes offshore framework regulations and updating the Multi-Sector Air Pollutants Regulations.
Canada's approach to cutting methane emissions from oil and gas activities will help fulfill its international Global Methane Pledge commitments. In recognition of Canada's work to date, Catherine Stewart, Canada's Ambassador for Climate Change, was announced as one of the new Global Methane Pledge champions during today's event.
The oil and gas sector is Canada's largest methane source, and today's announcement by Minister Guilbeault reflects the results of consultations conducted over the last nine months on the approach to driving further methane reductions from oil and gas activities.
As laid out in our 2030 Emissions Reduction Plan, the approach is similar to that of the United States, which is finalizing new rules to eliminate routine venting and flaring, enhance leak detection and repair, and address problems such as blowdowns and other potentially large releases.
Reducing oil and gas sector emissions will be key to delivering meaningful climate action, creating sustainable growth, and providing affordable sources of clean energy. Making investments now will position the North American oil and gas industry among the cleanest in the world and enable it to compete in an increasingly decarbonizing industry.
In fact, some of the world's largest oil and gas companies have also raised their ambition for methane emission reductions from oil and gas production by 2030. Alberta and British Columbia have both announced similar reduction targets which align with Canada's target, and which clearly point to the feasibility of achieving deep methane emission reductions in the near term.
Through continued collaboration with the oil and gas producing provinces, Indigenous partners, industry, and interested stakeholders, Canada will ensure that upcoming draft methane regulatory amendments achieve the best result possible. Environment and Climate Change Canada expects to publish the draft amendments in December 2023.
