The European Union, the United States and partners formally launched on November 2 the Global Methane Pledge, an initiative to reduce global methane emissions to keep the goal of limiting warming to 1.5 degrees Celsius within reach. A total of over 100 countries representing 70% of the global economy and nearly half of anthropogenic methane emissions have now signed onto the pledge.
The strong global support for the Pledge illustrates growing momentum to swiftly reduce methane emissions—widely regarded as the single most effective strategy to reduce global warming, the Commission said. Countries joining the Global Methane Pledge commit to a collective goal of reducing global methane emissions by at least 30 percent from 2020 levels by 2030 and moving towards using best available inventory methodologies to quantify methane emissions, with a particular focus on high emission sources. The countries who have joined the Pledge represent all regions of the world and include representatives from developed and developing nations.
The US and EU also announced a significant expansion of financial and technical support to assist implementation of the Pledge. Global philanthropies have committed $328 million in funding to support scale up of these types of methane mitigation strategies worldwide. The European Bank for Reconstruction and Development, the European Investment Bank, and the Green Climate Fund have committed to support the Pledge through both technical assistance and project finance. The International Energy Agency will also serve as an implementation partner.
Delivering on the Global Methane Pledge would reduce warming by at least 0.2 degrees Celsius by 2050, providing a crucial foundation for global climate change mitigation efforts. In addition, according to the Global Methane Assessment from the Climate and Clean Air Coalition (CCAC) and the United Nations Environment Programme (UNEP), achieving the 2030 goal would prevent over 200,000 premature deaths, hundreds of thousands of asthma-related emergency room visits, and over 20 million tons of crop losses a year by 2030.
