A major investor says analysis finds fracking “produces leaks that pour methane into the atmosphere.”
Companies could use technology to prevent some of the emissions but that would cost them money.
Using shale gas over coal does not help climate, says big gas investor
Scottish Widows Investment Partnership says fracking companies not bothering to capture ‘fugitive methane’
Fiona Harvey, environment correspondentguardian.co.uk, Tuesday 29 May 2012 01.30 EDT
Mackenzie said Scottish Widows was embarking on a campaign to persuade all of the gas companies in which it holds shares to start using leak-reduction technology. This does not just apply to shale gas operations – conventional gas drilling also produces leaks, which can be stanched by a variety of technologies, including one known as “plunger lift”. Scottish Widows is one of the biggest institutional shareholders in BP, as well as other major oil and gas companies.
The full IEA report is available here.