Today the Say No To LNG campaign launched across the globe, pulling back the curtain on dirty shipping fuels and calling attention to one in particular: Liquefied Natural Gas (LNG).
LNG is heavily greenwashed in the shipping sector, masking the research that shows public health and safety impacts from this dangerous pollutant. Backed by a coalition of experts and on-the-ground campaigners across the globe, the campaign will amplify credible information on the financial and political risks of LNG, international climate commitments, and recommendations for a solutions pathway towards shipping decarbonization.
LNG is a fool’s errand, here’s why:
LNG is a dangerous climate pollutant that poses risks to public health and safety. “Natural gas” in the name can portray it as a clean energy source, but LNG is mostly composed of methane – a greenhouse gas 80x more powerful at warming our atmosphere than CO2.
The UN Environment Programme says “[Reducing] human-caused methane emissions by 45% would, each year, prevent 260,000 premature deaths, 775,000 asthma-related hospital visits, 73 billion hours of lost labor from extreme heat, and 25 million tonnes of crop losses globally.”
Ships are responsible for transporting 90% of our global trade. Shipping also includes transporting people on cruise ships and passenger ferries. But, there are no international regulations for methane emissions from ships using LNG as a marine fuel.
The IMO’s 4th GHG Study stated that “between 2012 and 2018, the use of LNG as a marine fuel grew 28% globally, resulting in a 150% increase in methane emissions.”
LNG will not deliver emissions reductions for the shipping sector that are demanded by the Paris Agreement to keep global warming below 1.5°C. Using LNG as a marine fuel will only move us closer to our climate tipping points.
Investing in LNG is financially risky: from geopolitical instabilities, skyrocketing LNG prices and public pressure from climate advocates to international methane regulations on the horizon, investors and financiers are already pulling out of LNG projects. A recent study shows, as countries move towards zero-emissions fuels, the value of stranded assets – in LNG-fueled ships – will be up to $850 billion in 2030.
