Methane emissions are the second-largest cause of global warming today. Reducing methane emissions from oil and gas operations is among the most cost-effective and impactful actions that governments can take to achieve global climate goals.
Although methane has a much shorter atmospheric lifetime than CO2 – around 12 years, compared with centuries for CO2 – it absorbs much more energy while in the atmosphere, so it is a potent greenhouse gas with important implications for climate change.
A ten-step roadmap for policy makers
Step 1: Understand the legal and political context
Step 2: Characterise the nature of your industry
Step 3: Develop an emissions profile
Step 4: Build regulatory capacity
Step 5: Engage stakeholders
Step 6: Define regulatory objectives
Step 7: Select the appropriate policy design
Step 8: Draft the policy
Step 9: Enable and enforce compliance
Step 10: Periodically review and refine your policy.
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