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Photo: Justin Sullivan/Getty Images

Royal Dutch Shell unveiled plans Monday to cut methane emissions from its worldwide operations to below 0.2% of the natural gas from their projects by 2025.

Why it matters: Shell, BP and others promote natural gas as a climate-friendly alternative to coal, thanks to its far lower carbon emissions when it's burned.

  • But methane is a very potent greenhouse gas, and leaks from oil-and-gas production (and elsewhere on the supply chain) erode some of that advantage.
  • Shell's move is similar BP's pledge in April, while Exxon unveiled a methane-cutting goal in May.

How it works: "Shell is implementing programmes, including using infrared cameras to scan for methane emissions, deploying advanced technology to repair leaks, and replacing high-bleed pneumatically-operated controllers with low emission alternatives," the company said Monday.

  • Shell said its current "baseline" leak methane leakage rate ranges from 0.01% to 0.8% across its assets.

The big picture: The move signals how some companies are pledging to forge ahead with methane cuts even as the Trump administration moves to scuttle U.S. regulations.

  • However, activists say the oil majors are still moving too slowly on climate efforts overall.

What's next: WSJ notes that the The Oil and Gas Climate Initiative, a group of 10 huge companies — including Aramco, BP, Shell, Total, Eni and others — plan to announce methane targets by the end of the year.

Go deeper

Dion Rabouin, author of Markets
7 mins ago - Economy & Business

Miami mayor: Bitcoin's appeal is that governments can't manipulate it

Miami Mayor Francis Suarez is pushing to make bitcoin a part of his city's economic future, and in an interview with "Axios on HBO," he pushed back against the economic orthodoxy of people like Treasury Secretary Janet Yellen who say it's a bad idea.

Why it matters: Miami's inclusion of bitcoin as a way to pay city employees or as part of the city's emergency cash holdings, as Suarez has proposed, would add legitimacy to the cryptocurrency and further entrench it in the U.S. economic system.

Dion Rabouin, author of Markets
8 mins ago - Politics & Policy

Miami mayor acknowledges Big Tech plans could hurt the city's poor

Photo: "Axios on HBO"

Miami Mayor Francis Suarez's ambitions to attract Big Tech has generated a lot of headlines — but it will likely come with some negative impacts for current residents, for which the mayor admits there may not be solutions.

What he's saying: "Gentrification is real," Suarez told "Axios on HBO." But even with his efforts to promote affordable housing, he argues that "government has a limited amount of resources and a limited amount of ability to stop things that are market driven."

Trump's assault on Chinese tech left loose ends galore

Illustration: Sarah Grillo/Axios

President Trump's haphazard war on Chinese tech has left the Biden administration with a raft of unfinished business involving efforts to restrict Chinese firms and products in U.S. markets.

Why it matters: The Chinese and American tech industries are joined at the hip in many ways, and that interdependence has shaped decades of prosperity. But now security concerns and economic rivalries are wrenching them apart.