JPMorgan Touts Methane Curbs in Bid to Boost Climate Investment - Bloomberg
JPMorgan Touts Methane Curbs in Bid to Boost Climate Investment - Bloomberg
JPMorgan Touts Methane Curbs in Bid to Boost Climate Investment
- Spending on methane reduction promises economic, climate yield
- White paper may encourage lenders to boost methane cut efforts
A worker unhooks the plugging system of an orphaned well after it was filled with cement near Tulsa, Oklahoma on May 30, 2023. The US has some 3.7 million derelict oil and gas wells, the Environmental Protection Agency estimates, many leaking huge volumes of methane. Photographer: September Dawn Bottoms/Bloomberg
Businesses and the climate both stand to benefit from accelerated work to stem methane emissions within the oil and gas sector, JPMorgan Chase & Co. said in a report that amounts to a call for more action — and investment — targeting leaks of the potent greenhouse gas.
The white paper released Wednesday outlines the economic and environmental opportunity for methane abatement, while also encouraging oil and gas companies to set emission intensity targets, end routine flaring at oil wells and consider third-party audits that could drive additional improvements.
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