Investors Advocate for Strong EU Methane Regulations Against U.S. Pressure
Investors managing over €4.5 trillion are advocating for the EU's methane emissions laws to remain strong. Amid concerns of potential rule weakening to facilitate U.S. LNG imports, they stress the importance of strict methane regulations to combat climate change and maintain international reduction efforts.
In a decisive move, investors managing upwards of €4.5 trillion worth of assets have appealed to the European Union to maintain stringent methane emissions regulations, amid concerns changes might be made to accommodate U.S. liquefied natural gas (LNG) imports, according to a letter viewed by Reuters.
Prominent investment houses such as Ninety One, Pictet Group, and Railpen have emphasized the importance of monitoring and reporting the methane emissions of oil and gas suppliers. Methane is a potent greenhouse gas, contributing significantly to global warming, intensifying the calls to uphold the present legislation.
Although U.S. energy authorities have raised alarms about the existing rules hindering LNG exports to Europe, the European Commission assures that the current regulations should not obstruct trade. Meanwhile, investors caution that softening the regulations could destabilize industry investment plans and slow methane emission reduction progress.
(With inputs from agencies.)
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