TotalEnergies announces a $25 million donation to the Global Flaring and Methane Reduction (GFMR) trust fund at COP28.
TotalEnergies Boosts Global Methane Reduction Efforts
During the COP28 Methane Summit in Dubai, TotalEnergies pledged $25 million over 2024-2030 to the World Bank’s GFMR trust fund. This initiative aims to reduce routine gas flaring and methane emissions globally by offering technical assistance, facilitating policy reforms, and mobilizing finance for government and Oil & Gas operators.
Strategic Investment to Target Emission Reduction Potential
The GFMR trust fund strategically focuses on countries with significant emission reduction potential, supporting engagements to combat climate change. TotalEnergies, a signatory of the Oil and Gas Decarbonization Charter, continues its commitment to methane reduction, complementing its efforts to cut methane emissions by 50% by 2025 and 80% by 2030.
Methane Reduction as a Quick Win in Climate Change Mitigation
TotalEnergies emphasizes the urgency of reducing methane emissions, crucial in battling climate change. The company, a longstanding supporter of global initiatives, renews its commitment with the GFMR trust fund, aligning with its responsibility to achieve near-zero methane emissions by 2030.
In conclusion, TotalEnergies’ substantial donation to the GFMR trust fund reinforces its dedication to global methane reduction efforts. This strategic investment aligns with the company’s ambitious targets and its industry-leading role in combating climate change.
Source: businesswire.com
