Global Methane Pledge: A crucial step in reducing emissions

Methane emissions are a critical yet often overlooked driver of global warming, accounting for a significant portion of the planet’s rising temperatures. As a potent greenhouse gas, methane traps heat in the atmosphere far more effectively than carbon dioxide, albeit for a shorter duration. Recognising its outsized impact on climate change, world leaders launched the Global Methane Pledge (GMP) in 2021 during COP26 to rally nations and industries in a unified effort to slash methane emissions. Continue reading to learn more about the pledge and why it is vital to incorporate methane reduction into broader business sustainability strategies. 

What is the Global Methane Pledge? 

The Global Methane Pledge (GMP) is an international initiative launched in 2021 during the COP26 Glasgow. Its primary goal is to reduce global methane emissions, a potent greenhouse gas, by at least 30 percent below 2020 levels by 2030. Below is a snapshot of the key features of the Global Methane Pledge:

• Scope: Methane emissions account for about 25 percent of global warming. The pledge targets emissions from key sectors, including agriculture, energy, and waste management.
• Global Methane Pledge signatories: Over 150 countries have joined the pledge, representing a diverse coalition of nations committed to methane reduction.
• Focus areas: The Global Methane Pledge promotes best practices to reduce oil and gas leaks and venting. It also encourages sustainable agriculture practices like enhancing livestock management and reducing food waste. Finally, waste management is a key area for increasing methane capture from landfills and wastewater treatment plants.
• Implementation: The pledge drives countries to create action plans, invest in methane detection technologies, and introduce policies to reduce emissions across various sectors. 
• Benefits: Achieving the pledge’s goals could curb global warming by 0.2℃ by 2050, making it a major step toward meeting the goals outlined in the Paris Agreement. However, the pledge also reaps public health benefits by reducing ground-level ozone, a harmful air pollutant formed from methane emissions. 

Progress with the pledge since COP29 2024

At Baku COP29 participants convened to assess progress and reinforce commitments toward this goal. Key developments include:

• Increased participation: In 2024, Azerbaijan, Tajikistan, Guatemala, and Madagascar joined the GMP, bringing the total to 159 participating countries. 
• National methane action plans: Over 50 countries have developed or are in the process of developing national methane action plans, outlining strategies to achieve emission reductions.
• Advancements in monitoring and technology: The launch of the “An Eye on Methane” report at COP29 highlighted the role of new technologies in detecting and mitigating methane emissions, emphasising the importance of accurate data in driving effective action.
• Funding and investment: The Methane Finance Sprint announced new funding to accelerate methane mitigation efforts, building on an 18 percent increase in methane abatement finance observed between 2019/2020 and 2021/2022.

Despite these advancements, challenges remain. Reports indicate that methane emissions continue to rise, and the response to detected leaks has been limited. Since the UN initiative began monitoring methane leaks from oil and gas infrastructure, it has issued 1,200 alerts, but only 1 percent drew a substantial response to address the leaks.

Conclusion

The Global Methane Pledge represents a critical step in the global fight against climate change, highlighting the urgency of addressing methane emissions. While progress has certainly been made, much work remains to meet the 2030 target. 

Moving forward, the success of the GMP will depend on collective action, robust enforcement mechanisms, and the integration of innovative solutions. As countries and industries accelerate their efforts, the pledge promises to cut methane emissions while also advancing broader climate goals to secure a more resilient and sustainable planet.