The UN Climate Change Conference, COP29, is currently underway in Baku, Azerbaijan, with a focus on reducing methane emissions to combat climate change. According to Manfredi Caltagirone of the UNEP’s Methane Emissions Observatory (IMEO), there has been a significant increase in methane levels in recent years, with 20% of emissions coming from waste and food systems.
The IMEO, established in 2021, gathers methane-related data from various sources, including satellite monitoring through the Methane Alert Response System (MARS). Despite technological advancements and global efforts like the Global Methane Pledge to reduce emissions by 30% by 2030, progress has been slow.
The oil and gas industry, responsible for significant methane leaks, could potentially save billions of dollars by avoiding these emissions, yet large-scale reductions have not been achieved. Some countries, like Nigeria, are introducing methane fees, while the EU is considering a methane border adjustment to monitor methane footprints from imported oil and gas.
While there is growing awareness and ambition to reduce methane emissions, concrete actions are still needed. The ongoing COP29 aims to address these issues and drive action on climate change by reducing emissions and halting global warming. As countries continue to push for reductions in methane emissions, it is crucial for governments and industries to translate ambitions into verifiable actions to combat climate change effectively.
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