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• A 0.3% methane emission reduction per year is equal to net-zero for carbon dioxide
• India, the third-largest methane producer, has not signed the deal
As many as 104 countries have committed to cutting methane emissions 30% by 2030. The countries signed a deal under Global Methane Pledge at the COP26, United Nations climate summit in Glasgow.
“Methane is a leading cause of climate change, and stopping methane leaks and reducing emissions faster is imperative,” said Michael Bloomberg, the UN secretary-general’s special envoy for climate ambition and solutions.
The Initiative
The initiative was first announced by the United States and European Union in September when only nine countries, namely the UK, Argentina, Mexico, Ghana, Indonesia, Iraq, and Italy, had signed the agreement.
Other than the nations, more than 20 philanthropic organizations: including Bloomberg Philanthropies, Children’s Investment Fund Foundation and Oak Foundatios. The foundations had committed funding $328 million to reduce methane emissions.
In addition, the European Investment Bank, the European Bank for Reconstruction and Development, and the Green Climate Fund have agreed to provide technical and financial support to cut down emissions.
The third-largest source of methane emissions, India has not signed the deal like it skipped out from pledging to quit coal.
Methane emission
A report published by the Intergovernmental Panel on Climate Change (IPCC) said a 0.3% methane reduction per year is equivalent to net-zero for carbon dioxide and also mentioned that there would be no additional warming if this level of reduction is achieved.
“Warming could be reduced by at least 0.2 degrees Celsius by 2050 if countries deliver according to the pledge. We need big structural changes, yes, to reach 2050 climate neutrality. But we cannot wait for 2050,” said European Commission President Ursula von der Leyen in his speech during the launch of the pledge.
Since the industrial revolution, at least 30% of global warming has been due to methane emissions, and the emission has been increasing faster since 1983 when record-keeping began.
“So, cutting back on methane emissions is one of the most effective things we can do to reduce near-term global warming and keep 1.5 degrees Celsius. It is the lowest-hanging fruit,” said Von Der Leyen.