Diminishing proportion of climate finance for methane abatement, CPI reveals.

Reducing methane emissions is crucial to solving climate change. So why is methane abatement receiving a diminishing proportion of global climate finance?

Methane abatement has amongst the highest climate change mitigation potential, per dollar invested. Yet methane solutions have historically been undervalued, underfinanced, and ultimately overlooked. Data from the Climate Policy Initiative shows that methane abatement is still taking the back seat.

Recent findings from the Climate Policy Initiative highlight a significant surge in global climate finance, soaring from 653 billion USD in 2019/2020 to 1.3 trillion USD in 2021/2022 (CPI, Nov 2023). While methane abatement finance experienced an 18% increase during the same period, it’s disheartening to note that the proportion of global climate finance dedicated to methane abatement decreased from <2% to a mere 1%.

Despite offering one of the most efficient and cost-effective solutions for emissions reduction, methane abatement finance has not kept pace with other climate strategies. Without proportional financial support, the market for methane abatement strategies remains stagnant.

Considering methane emissions are responsible for 30% of climate change (CPI, 2022), it’s imperative to reverse this trend and align financial incentives with the extraordinary potential of methane abatement.

Find the full policy brief here: https://www.climatepolicyinitiative.org/publication/landscape-of-methane-abatement-finance-2023/

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