News / #energy intensity
Man-made methane can be cut by plugging leaky oil and gas infrastructure, experts say. But Southeast Asia is lagging in realising the decarbonisation potential of methane reduction as fossil fuel production ramps up.
As declining oil output increases reliance on on foreign supply, the region’s oil import bill could exceed US$200 billion by 2050, posing major economic and energy security risks without a faster renewables shift, says the global energy authority.
Despite a 14 per cent increase in renewable energy capacity last year, progress on lowering emissions is hindered by increased fossil fuel consumption.
China’s national emissions trading scheme (ETS) is already the world’s biggest carbon market.
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