In just a few days I, along with EDF+Business’ Xixi Chen, will be traveling across China to talk with companies and students about corporate energy management. The trip comes one week after China’s “Golden Week”—the country’s eight-day-long national celebration. Each year, the holiday marks the largest week for tourism, bringing in over 700 million tourists at home and abroad to the nation’s streets and roughly $87 billion in revenue.
But while the streets are bustling, China’s industrial and manufacturing powerhouse comes to a standstill. This is a mandatory national holiday for all citizens, which means, for the entire week, almost everyone is off of work, businesses and factories are shut down, shipping lines are put on pause, and companies with suppliers in China are busy preparing for a week of silence.
Last week, financial community leaders took a big step into the intersection of business and policy on the urgent need to curb methane emissions from the oil and gas sector. A group of investors managing more than $300 billion in market assets sent a letter to the U.S. Environmental Protection Administration and the White House, calling for the federal government to regulate methane emissions from the oil and gas sector. The letter urged covering new and existing oil and gas sites, including upstream and midstream sources, citing that strong methane policy can reduce business risk and create long-term value for investors and the economy.
Spearheaded by Trillium Asset Management, the cosigners of the letter to EPA Administrator Gina McCarthy included New York City Comptroller Scott M. Stringer, who oversees the $160 billion New York City Pension Funds, and a diverse set of firms and institutional investors. They spelled out in no uncertain terms that they regard methane as a serious climate and business problem – exposing the public and businesses alike to the growing costs of climate change associated with floods, storms, droughts and other severe weather.
In 1933, Milton Heath Sr. opened a small, family-run consulting firm to find leaks from natural gas pipelines in an emerging energy market. More than 80 years later, the Texas-based business has expanded to provide more than 1,200 manufacturing and service jobs nationwide.
Heath Consultants’ business model may have changed – but the company’s commitment to finding and reducing leaks of methane—a potent greenhouse gas—has not wavered.
Stories like Heath’s are the focus of a new report released this week by Datu Research. The Emerging U.S. Methane Mitigation Industry looks at the growing industry that specializes in manufacturing technologies and providing services that help oil and gas companies reduce their environmental impact and deliver a valuable product to market.
The report analyzes more than 70 companies that limit methane emissions and provide high-paying, highly skilled jobs to thousands across the country. They operate in a rapidly growing industry responding to concerns over methane pollution that is rising in tandem with our domestic energy boom.