Among the many reasons to be frustrated with the corporate conversation around ESG (and sustainability, in general) is the disproportionate attention focused on carbon, rather than other greenhouse gasses, such methane, which is so much more damaging in the short term (e.g., see Strategic CSR – Methane). This narrow focus can result in less pressure to set targets and less oversight of performance, even when targets are set:
"The United States' booming fossil-fuel industry continues to emit more and more planet-warming methane into the atmosphere, new research showed, despite a U.S.-led effort to encourage other countries to cut emissions globally."
This is particularly ironic, given the leading role the U.S. played in setting global limits on the emissions of this gas:
"Methane is among the most potent greenhouse gases, and 'one of the worst performers in our study is the U.S., even though it was an instigator of the Global Methane Pledge,' said Antoine Halff, the co-founder of Kayrros, the environmental data company issuing the report."
One reason could be where methane (relative to carbon) is emitted in the supply chain:
"Unlike carbon dioxide, methane emissions don't derive from consumption, but rather from production and transportation of the gas, which is the main component of what is commonly known as natural gas. Methane can leak from storage facilities, pipelines and tankers, and is also often deliberately released. Methane is also released from livestock and landfills, and occurs naturally in wetlands."
The lack of oversight has produced predictable results:
"The concentration of methane in the atmosphere is now more than two-and-a-half times as much as preindustrial levels, and more than half of the world's methane emissions are man-made."
Why methane has remained overlooked, however, is less important than the consequences of it having been so:
"Its presence in the atmosphere dissipates in roughly 12 years, a relatively short span of time, but numerous studies point to its heat-trapping effects as being as much as 80 or more times stronger than carbon dioxide's. That means it can have more immediate consequences for the climate."
What is consistent in the debate (as with most sustainability issues), though, is the degree to which everyone says they are willing to act, but then fails to do so meaningfully:
"In 2021, the United States was among the first signers and promoters of the Global Methane Pledge, which set a target of reducing global, man-made methane emissions by 30 percent from 2020 levels within a decade. The pledge has been signed by 158 countries. '2030 is rapidly approaching, though, and emissions are still being released in huge amounts,' said Mr. Halff. 'This seems in large part because oil and gas production is surging both in the U.S. and elsewhere.'"
Take care
David
David Chandler
© Sage Publications, 2023
Strategic CSR Simulation: http://www.strategiccsrsim.com/
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Despite a Global Pledge of Reduction, U.S. Emissions of Methane Keep Climbing
By Max Bearak
September 20, 2024
The New York Times
Late Edition – Final
A18
