Business leaders celebrate tough new EPA standards on methane emissions
Today, business leaders across the U.S. are celebrating the Environmental Protection Agency’s (EPA) announcement that it is adopting stronger rules against methane emissions. These rules include strengthening standards for leak detection and repair, expanding regulations for inspection of closed wells, and creating programs for third-party monitoring of super emitters.
“The EPA’s new rules against methane emissions are a huge win for the health of our climate and our communities,” said Michael Green, Director of Climate & Energy Policy for the American Sustainable Business Network, an association of business leaders working towards an equitable and sustainable economy. “Methane regulation is not only good for our climate – it’s good for business. Minimizing methane pollution will prevent continued harm to local communities and ecosystems, reduce pricing uncertainty and market volatility, and stimulate investment and innovation.”
Green noted that reducing methane pollution is a major step towards mitigating climate change, since methane makes up about 12% of total greenhouse gas emissions in the U.S., but is responsible for 25% of current warming, and traps 80 times more heat than carbon dioxide.
ASBN has long advocated for new regulations limiting methane pollution. The group’s “Business Case for Methane Emissions Reduction” argues that a transition away from an extractive economy – through strong regulation and public policy – will encourage private investment and foster greater innovation. Business owners and investors affiliated with ASBN sent 240 comments to the EPA during the public comment period on the new rules, demonstrating the business community’s commitment to a clean energy economy.
The EPA’s announcement coincides with the start of the COP28 U.N. Climate Change Conference in the United Arab Emirates. “As global leaders gather to tackle the climate crisis, the U.S. must show the world that we’re ready to lead with ambitious climate policies,” said Green.