Commodities and Futures News

US targets nitrous oxide in new phase of climate fight

2024.07.23 11:09

By Valerie Volcovici

WASHINGTON (Reuters) – The Biden administration on Tuesday announced it would seek to curb U.S. emissions of powerful industrial greenhouse gases such as nitrous oxide as it enters a new phase in the national strategy to fight climate change under the Paris agreement.

The focus on industrial gases follows U.S. measures to reduce methane emissions, which yielded an international campaign to get other countries to make big cuts as well as domestic reductions.

Like methane, nitrous oxide is short-lived but a potent source of global warming, so the U.S. hopes targeting it will yield rapid and inexpensive gains in the fight against climate change.

“Most of the discussion of climate change focuses on carbon dioxide, but super pollutants like methane and nitrous oxide cause half of the climate change we’re experiencing today,” said John Podesta, Senior Adviser to the President for International Climate Policy.

The White House kicked off the effort with an event on Tuesday and announcements by industrial companies, including Ascend Performance Materials, that are taking voluntary actions to cut nitrous oxide emissions, officials said.

Nitrous oxide emissions come from a variety of sources including the production of some fertilizers and synthetic materials such as nylon.

A State Department official told Reuters that it can cost as little as $10 per metric ton to reduce nitrous oxide emissions through projects implemented through the voluntary carbon offset market.

Last year, the U.S. and China agreed to include a commitment to reduce all non-carbon greenhouse gases in their new national climate plans under the Paris climate agreement, which are due to be submitted to the United Nations next year.

Gabrielle Dreyfuss, chief scientist for the Institute for Governance & Sustainable Development, said she hoped the two biggest industrial emitters would cooperate on nitrous oxide.

“When the U.S. and China work together, big things can happen,” she said.

© Reuters. FILE PHOTO: U.S. President Joe Biden delivers remarks on extreme heat conditions, from the South Court Auditorium on the White House campus, in Washington, U.S. July 27, 2023. REUTERS/Jonathan Ernst/File Photo

Podesta told another event hosted by IGSD, the Asia Society and think tank Climate Advisers that he will travel to China to meet with counterparts “later this year”.

Tuesday’s event also included a commitment of $300 million from philanthropies for the Global Methane Hub, which supports projects to cut methane emissions around the world.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 102,967.59 0.15%
ethereum
Ethereum (ETH) $ 2,335.39 5.77%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.35 1.37%
bnb
BNB (BNB) $ 670.19 6.81%
solana
Solana (SOL) $ 171.70 5.42%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.204424 4.43%
cardano
Cardano (ADA) $ 0.776154 1.43%
tron
TRON (TRX) $ 0.262374 2.15%
staked-ether
Lido Staked Ether (STETH) $ 2,330.24 5.65%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 102,931.58 0.10%
sui
Sui (SUI) $ 3.92 2.37%
chainlink
Chainlink (LINK) $ 15.96 0.94%
avalanche-2
Avalanche (AVAX) $ 23.21 4.30%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,806.84 6.45%
stellar
Stellar (XLM) $ 0.295373 0.55%
shiba-inu
Shiba Inu (SHIB) $ 0.000015 4.52%
hedera-hashgraph
Hedera (HBAR) $ 0.201401 3.26%
hyperliquid
Hyperliquid (HYPE) $ 24.53 4.76%
bitcoin-cash
Bitcoin Cash (BCH) $ 412.69 1.21%
the-open-network
Toncoin (TON) $ 3.29 2.40%
leo-token
LEO Token (LEO) $ 8.70 1.86%
usds
USDS (USDS) $ 1.00 0.00%
litecoin
Litecoin (LTC) $ 103.89 9.65%
polkadot
Polkadot (DOT) $ 4.83 7.64%
weth
WETH (WETH) $ 2,333.08 5.66%
monero
Monero (XMR) $ 317.52 6.55%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,491.86 6.07%
bitget-token
Bitget Token (BGB) $ 4.56 1.75%
pepe
Pepe (PEPE) $ 0.000012 13.58%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.02%
pi-network
Pi Network (PI) $ 0.729113 6.68%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 102,980.59 0.07%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.01%
whitebit
WhiteBIT Coin (WBT) $ 30.27 0.35%
uniswap
Uniswap (UNI) $ 6.45 5.52%
bittensor
Bittensor (TAO) $ 429.67 0.58%
near
NEAR Protocol (NEAR) $ 2.90 5.27%
dai
Dai (DAI) $ 1.00 0.01%
aptos
Aptos (APT) $ 5.56 0.34%
okb
OKB (OKB) $ 55.07 4.01%
aave
Aave (AAVE) $ 210.87 2.07%
ondo-finance
Ondo (ONDO) $ 1.00 2.04%
susds
sUSDS (SUSDS) $ 1.05 0.03%
official-trump
Official Trump (TRUMP) $ 15.05 16.67%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
crypto-com-chain
Cronos (CRO) $ 0.101642 3.20%
ethereum-classic
Ethereum Classic (ETC) $ 19.14 2.81%
internet-computer
Internet Computer (ICP) $ 5.44 2.98%