International Energy Forum promotes climate initiatives at COP26

The Secretary General of the International Energy Forum, Joseph McMonigle, is participating in the COP26 UN climate change conference this week in Glasgow, in support of member countries negotiating more ambitious targets to tackle global warming.

All 71 members of the IEF are signatories to the landmark Paris Agreement, signed at COP21 in 2015, which binds them to cut emissions to limit warming to within 2°C, ideally 1.5°C, adapt to climate change impacts, and provide financial aid for low- and middle-income countries.

"The IEF has launched several new initiatives to support members in meeting their increasingly ambitious targets to tackle climate change," said McMonigle. "The COP26 meeting will provide new inputs to inform our program of global energy dialogue, which aims to support the transition to climate neutrality, while also defending energy security and market stability."

The COP26 meeting comes amid a global energy crisis, with natural gas and electricity prices hitting record highs in Europe. The IEF held a Special Gas Market Dialogue last week where ministers from major consuming countries called on gas producers to increase output, build strategic stockpiles and strengthen partnerships to preserve market stability.

At COP26, the IEF will participate in events supporting the use of space technology to improve emissions monitoring; advancing the deployment of circular carbon technologies such as carbon capture, use and storage; and promoting international investment partnerships to advance the diversification of energy sources in Europe.

The IEF has developed the IEF Methane Initiative, a standardised methodology to more accurately measure emissions based on satellite technology. The methodology was developed in partnership with Kayrros, the advanced geospatial analytics company.

The Sixth Assessment Report of the International Panel on Climate Change shows that Carbon Capture Use and Storage (CCUS) must play a huge part in achieving any carbon neutrality scenario. The IEF is encouraging governments to step up collaboration and facilitate technology transfer and investment in CCUS that can meet decarbonisation, affordability and energy security goals in a holistic whole of economy approach.

The quest for a hydrogen economy also depends on economy-wide uptake of CCUS. To make that happen the IEF is working with governments, industry and international organizations including the Clean Energy Ministerial.