COP28 initiatives will only reduce emissions if followed through - Dec 2023

At the time of our analysis, we found only the press release publicly available, which is ambiguous on the target year for methane reductions (stating that the pledge signatories will aim to “align around net zero by or before 2050, zero-out methane emissions, eliminate routine flaring by 2030”) The updated version of our briefing refers to the full text of the charter. [...] i of the pdf 16cm Small correction to the arrow for the COP28 New initiatives & declarations: the “Achievable” and “Needs work” sections changing to reflect the changes made in Figure 2. [...] The failure to include a target year for the methane emissions leaves most of the tripling a huge loophole in the initiative. [...] itself is oil & gas O&G 0.4 0.5 1.1 2combustion of a dangerous in 2022 oil & gas in 2022 Agriculture 0.5 0.5 3 41 The wording in the press release accompanying the charter varies, causing some uncertainty about the end target for methane (zero or near-zero), and the target year (no target year or 2030). [...] Annex, page 8 of the pdf, table 1, methods and data sources Near-zero upstream methane emissions from the industry by 2030 For the near-zero methane target, we stick to the target year as described in the charter itself, rather than the press release which includes a more ambiguous formulation.