Article

The EU methane regulation took effect on August 4, 2024, establishing a legally binding framework to reduce methane emissions, especially in oil, gas, and coal sectors. The regulation aims for a 45% reduction in emissions by 2030, potentially averting 0.3°C of warming by 2045.

Companies may face penalties for non-compliance, while those investing in reduction technologies could enhance revenue. Major oil companies are adapting, with Shell, BP, and Total Energies setting ambitious targets for methane intensity reductions.

ExxonMobil has also committed to significant reductions. The regulation positions the EU as a leader in climate governance, promoting innovation and investment opportunities in emission reduction technologies.