Financing push aims to unlock billions to curb methane leaks

FILE PHOTO: A pipeline that moves methane gas from the Frank R. Bowerman landfill to an onsite power plant is shown in Irvine, California, California, U.S., June 15, 2021. REUTERS/Mike Blake

LONDON: A global group of about 50 organisations including the Climate Bonds Initiative (CBI) 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 organisations intend to release funding recommendations at the COP29 annual United Nations climate conference in November and hope to showcase two demonstration deals, according to CBI chief executive officer Sean Kidney.