HomeAgricultureCOP29: Launch of “An Eye on Methane”, Will Pledges Turn into Progress?

COP29: Launch of “An Eye on Methane”, Will Pledges Turn into Progress?

According to the IEA, methane is responsible for around 30% of the rise in global temperatures since the Industrial Revolution. While carbon dioxide is mostly given importance in climate discussions, addressing methane removal is equally critical to achieving climate targets. At COP29, methane was much talked about with the launch of the 2024 report- An Eye on Methane.

The report revealed that the tools to cut methane emissions exist but a significant gap remains between commitments and action. The 2024 An Eye on Methane Report by the United Nations Environment Program’s (UNEP) International Methane Emissions Observatory (IMEO) emphasizes the urgency to close this gap.

Methane’s Alarming Impact: Short-Lived but Powerful

IEA reported that the latest Global Methane Budget estimated annual global methane emissions to be around 580 million tons (Mt). Of this, approximately 40% comes from natural sources, while 60% is due to human activity.

In 2023, the energy sector accounted for nearly 130 Mt of methane emissions, making it the second largest contributor after agriculture, which emitted around 145 Mt in 2017.

Methane stays in the atmosphere for about 12 years which is shorter than carbon dioxide’s lifespan of centuries. However, it absorbs far more energy during that time which makes it a potent greenhouse gas and a major cause of climate change. This is why, rapid and sustained reductions in methane emissions from the energy sector are crucial to keeping global warming within 1.5°C.

Additionally, methane contributes to air pollution by forming ground-level ozone, which is harmful to health. Leaks also pose explosion risks and other safety concerns. We can see that the impact of methane emissions is directly felt on air quality, climate, and health. Thus, cutting these harmful emissions is essential for improving both environmental and public health.

Sources of methane emissions, 2023

methane emissions IEA

Source: IEA

Tracking Methane with Cutting-Edge Tools

UNEP’s IMEO is leading efforts to monitor and reduce methane emissions. It gathers data from several sources, including:

  • Oil and Gas Methane Partnership 2.0 (OGMP 2.0): Industry reporting on emissions.
  • Methane Alert and Response System (MARS): Satellite-based alerts for large methane leaks.
  • Scientific Studies and National Inventories: Comprehensive research and emission records.

So far, MARS has flagged over 1,200 significant methane leaks to governments and companies. These alerts offer clear opportunities for action. However, only 1% of these notifications have received responses, revealing a significant lack of follow-up.

Satellites and AI: A Powerful Combination

MARS uses advanced satellite technology and artificial intelligence to detect methane emissions. This system helps governments and industries locate and address major leaks quickly. However, results would show up only when the leaks are fixed. This highlights the necessity for a “call to action”.

Despite these capabilities, very few emitters are using these tools. The report emphasized that companies and governments must engage more actively. The system is operational, but it needs collaboration to make a meaningful difference.

Changes in atmospheric methane concentrations, 1990-2023

Methane data IEA

Source: IEA

The Global Methane Pledge: Can the Champions Charge Ahead?

Global Methane Pledge (GMP) Champions include Canada, the European Union, the Federated States of Micronesia, Germany, Japan, Nigeria, and the United States.

These countries are urging other nations to implement active methane mitigation measures and integrate them into their Nationally Determined Contributions (NDCs). Notably, the NDCs if pertain to limiting warming, should explicitly include how methane reductions will help achieve climate targets. This step is vital to achieving the Global Methane Pledge’s target of reducing global methane emissions by 30% from 2020 levels by 2030.

Additionally, their agenda and progress are significant for the methane session at COP29.
The GMP Champions stresses the energy sector’s role in meeting methane reduction goals which also align with the G7’s commitment to cut methane emissions from fossil fuels by 75% by 2030. They also urge countries to adopt methane regulations and policies for oil and gas operations.

Lastly, as already explained before accurate data is critical for action. The Champions also call on governments to use the MARS and the private companies to join the (OGMP) 2.0 for better emissions tracking.

The global methane monitoring system is already ready to drive change. However, its success depends on turning data into action. For this, governments must enforce accountability by holding emitters responsible for addressing methane leaks and subsequently repairing them.

Significantly, the “An Eye on Methane” report is “a call to action” that pushes stakeholders to harness the methane data revolution. Methane’s harmful impact on global warming and human health made it a top priority at this year’s COP29 summit. And as the leaders said, the time to act is NOW!

Sources:

  1. An Eye on Methane 2024 | UNEP – UN Environment Programme
  2. Global Methane Pledge Champions Call for Accelerated Global Action on Methane Mitigation, Spotlight New Super Pollutant NDC Guidance | Global Methane Pledge
  3. Global Methane Tracker 2024 – Analysis – IEA
Most Popular
LATEST CARBON NEWS

Japan Steps Up as Carbon Credit Leader with $70 Billion Push for Net Zero

Japan is starting to lead in carbon credit markets as global demand for sustainable solutions grows. With significant investments, bilateral agreements, and innovative approaches,...

The Curious Case of Top CEOs’ Private Jet Emissions

Are those billionaires flying in the sky giving a stark reminder of climate inequality? Certainly yes. It showcases the disproportionate environmental impact of the...

BeZero Carbon Secures $32 Million to Boost Carbon Market Integrity

BeZero Carbon, a global leader in carbon ratings, has successfully raised $32 million in a Series C funding round. The funding will help enhance...

TikTok’s 50-Million-Ton Carbon Crisis: Almost 7x Bigger Than Meta’s Footprint

TikTok, owned by ByteDance, has rapidly become one of the most popular social media platforms globally. The platform has reshaped how people engage with...
CARBON INVESTOR EDUCATION

Top 5 Carbon ETFs for Sustainable Investing in 2025

Like stocks, investors can buy and sell Exchange-Traded Funds (ETFs) whenever the market is open. Often investing in carbon credits through ETFs offers a...

Green AI Explained: Fueling Innovation with a Smaller Carbon Footprint

As artificial intelligence (AI) continues to transform industries and unlock new opportunities, its environmental impact is also a matter of concern. While AI holds...

What’s Shaping North America’s Natural Gas in 2024? Insights from Wood Mackenzie

The natural gas market has immensely benefitted this year from robust storage levels and stabilized prices after the sharp spikes of 2022. However, challenges...

EU’s Green Bonds to Slash 55 MTS of CO₂ Annually. Can it Hit Europe’s 2050 Net Zero Target?

The European Commission released its NextGenerationEU (NGEU) Green Bonds Allocation and Impact Report 2024 explaining how proceeds from green bonds are being used to...