Direct (scope 1) emissions from the oil and gas sector – mostly from facilities that are covered by the safeguard mechanism – have increased by 7.8% in the latest reporting period, according to new data from the Clean Energy Regulator.
Chevron’s emissions are up by 25% and Shell’s are up by 23% – much higher emissions growth than the rest of the oil and gas sector.
Much of the growth in emissions from oil and gas facilities is due to methane venting from increased production.
“Climate pollution from Australia’s biggest polluters remains stubbornly high, while increases in fossil gas mining are mostly cancelling out the reduction in emissions from the phenomenal growth in renewable energy over the past three years,” said the Australian Conservation Foundation’s corporate campaigner Jonathan Moylan.
“Methane from oil and gas facilities is a big climate problem as methane is more than 80 times more damaging to the atmosphere over 20 years than carbon dioxide.
“There is a great deal of uncertainty about the accuracy of methane emissions data because companies often rely on estimates rather than direct measurement.
“This new information underscores why any new entrants to the safeguard mechanism must enter the system at net zero having purchased safeguard mechanism carbon credits and not have access to dodgy offsets.”
Global methane emissions are on the rise - and it’s supercharging the climate crisis. 👎— Australian Conservation Foundation (@AusConservation) March 2, 2023
Why exactly is this greenhouse gas so nasty? We’ve got you covered with this handy explainer. pic.twitter.com/aI3vXYWPNt