At CERAWeek, Shell broke its tradition of avoiding government criticism to call on the Trump administration to tighten methane restrictions from oil and gas operations. Exxon also doubled down on its position that federal methane regulation has an important role to play in leveling the playing field and reducing environmental risks. Other energy companies have yet to publicly promote strong methane policy or have actively lobbied against it like BP.
Investors have continued to voice concern that emissions of methane, a highly potent greenhouse gas emitted from oil and gas operations, must be addressed if natural gas is to play any role in a low-carbon future. Shareholder proposals focusing on methane at upstream companies like Chevron and downstream distributors like Atmos have garnered high votes. Exxon has previously voiced support for federal methane regulation consistent with its voluntary commitments, however the company continues to be a member of the American Petroleum Institute, which has actively lobbied to weaken methane protections.
Lila Holzman, energy program manager of As You Sow, made the following statement:
“We are pleased that companies like Exxon and Shell acknowledge the need for federal methane regulation. Smart methane controls represent the low-hanging fruit that companies should implement while transitioning their business models toward complete Paris-compliance.”
For more information on As You Sow’s work on climate change, click here (https://www.asyousow.org/our-work/energy/climate-change).