Why the Global Methane Pledge Is Falling Short
5 days ago
- #climate-change
- #methane-emissions
- #global-pledge
- The Global Methane Pledge was launched at COP26 to reduce methane emissions, but many countries are failing to meet targets.
- Methane heats the planet up to 80 times more than CO2 over two decades and contributes 30% of global temperature rise since the Industrial Revolution.
- The energy sector accounts for over 35% of human-caused methane emissions, highlighting the need for a transition to green alternatives.
- 111 countries signed the pledge, aiming for a 30% reduction in methane emissions by 2030, but it lacks binding commitments.
- Major methane emitters like China, India, and Russia have not joined the pledge, though China plans a national methane action plan.
- Participant commitments vary, with Canada targeting a 75% reduction in oil and gas methane emissions, while others like Iran lack strategies.
- The UN's oil and gas methane reporting scheme includes 154 companies, but 80% fail to report emissions accurately.
- Satellite data reveals over 14,000 methane leaks globally, with 90% unaddressed by governments and companies.
- The Trump administration rolled back U.S. methane regulations, despite the country's leadership in the pledge.
- Investors urged the EU not to weaken methane laws amid concerns over LNG trade tensions with the U.S.
- The UN report calls for better methane monitoring and reporting ahead of COP30 to meet 2030 climate goals.