With 30% of global warming due to methane emissions, why is only 2% of climate investment directed to solve it? Mitigation of methane emissions is lagging woefully behind that of carbon dioxide, and urgently needs to catch up.
At COP26, over 100 countries signed the Global Methane Pledge, agreeing to reduce global methane emissions by 30% by 2030. Due to the potency of methane, this pledge plays a critical role in meeting the Paris Agreement and keeping global warming at 1.5°C.
Where are we now?
Methane has a warming impact 84 times more powerful than carbon dioxide during the first 20-years in the atmosphere. This means that efforts to reduce methane emissions into the atmosphere will reduce global warming more effectively in the short term.
However, methane remains the less famous cousin of carbon dioxide. A lack of reliable, real-world monitoring data has hindered much needed investment. Improved monitoring and data accumulation is required to increase confidence in the need for methane abatement and reduce the enormous barrier between methane-oriented innovation and investment.
As we approach COP28, Bluemethane sees that companies reporting higher methane emissions based on reliable data are showing greater industry leadership than those reporting low emissions based on poorly calculated estimates (or no measuring at all).
Bluemethane is committed to leading the charge in driving awareness, increasing investment in accurate measuring and methane recovery, and facilitating the change needed to bridge the gap between methane mitigating technologies and the attention they rightfully deserve.