ESG & Investing
Financing Push Aims to Unlock Billions to Curb Methane Leaks
- CBI and IEA among organizations working on new guidelines
- Some countries face funding constraints for methane projects
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A global group of about 50 organizations including the Climate Bonds Initiative and the International Energy Agency are working on new guidelines that could enable oil and gas producers seeking to reduce their methane emissions to access transition financing.
The organizations intend to release funding recommendations at the COP29 annual UN climate conference in November and hope to showcase two demonstration deals, according to CBI Chief Executive Officer Sean Kidney. The non-profit, which assesses sustainable debt, would then certify methane reduction projects that meet the criteria.