The International Energy Agency released its Global Methane Tracker 2026 on Monday, reporting that methane emissions from fossil fuel operations have remained flat and calling for global cuts to bolster energy security ahead of the United Nations' COP31 summit in November. The report found that the oil, gas and coal industries account for about 35 percent of all methane emissions from human activity.

"There is still no sign that methane emissions from fossil fuel operations are falling, despite well-known and proven mitigation pathways," the IEA said. Methane emissions from oil, gas and coal total 124 million tonnes a year, according to the report.

Oil is the largest source at 45 million tonnes per year, followed by coal at 43 million tonnes per year and natural gas at 36 million tonnes per year. Bioenergy production and consumption contributes a further 20 million tonnes of methane emissions per year, largely from incomplete combustion of traditional biomass used for cooking and heating in developing economies.

Methane is the second-biggest contributor to climate change. It stays in the atmosphere for less time than carbon dioxide but has a warming effect roughly 80 times more potent over a 20-year period.

Tackling methane emissions in the fossil fuel sector would help efforts to hold back climate change and increase energy security, according to the report. A global effort to cut methane from oil and gas operations could make nearly 100 billion cubic metres of natural gas available annually, and eliminating non-emergency flaring worldwide would unlock a further 100 billion cubic metres of natural gas annually.

Global energy supplies remain limited, with the Iran crisis threatening global energy supplies and disrupting about 20 percent of global liquefied natural gas trade flows. Nearly 15 billion cubic metres of natural gas could be made available in a short period to provide relief to gas markets.

France, as rotating chair of the G7, convened government officials, industry leaders, and experts on Monday to build momentum on cutting methane emissions. The conference aimed to reduce methane emissions ahead of the United Nations' November COP31 summit.