1. Extracting Emissions: Why Resource-Rich Countries Should Cut Emissions from Extractive Operations
- Author:
- William Davis and Amir Shafaie
- Publication Date:
- 11-2023
- Content Type:
- Policy Brief
- Institution:
- Natural Resource Governance Institute
- Abstract:
- Global efforts to mitigate climate change are likely to greatly reduce demand for fossil fuels over time. Countries that depend on revenues from these resources should diversify their economies. Investors and customers are pressuring the oil, gas and mining industries to cut greenhouse gas emissions from their production processes. This trend is likely to intensify, including with new policies from key trading partners seeking to reduce greenhouse gas emissions from the extractive commodities that they import. Examples of such measures include the European Union’s Carbon Border Adjustment Mechanism and its regulations on methane emissions from oil, gas and coal operations. To stay competitive, governments of resource-rich countries will need to cut emissions from oil, gas and mining operations in their territories. Some are already doing this. But progress has been slow, and much work remains. To improve results, a wider set of stakeholders than just governments and including civil society actors should engage on the issue and seek increased transparency and accountability on emissions from the extractive industries.
- Topic:
- Climate Change, European Union, Carbon Emissions, and Extractive Industries
- Political Geography:
- Europe and Global Focus