Green Finance Advisor of Friends of the Earth (HK)
To tackle climate change we need to reduce the emissions of greenhouse gases. While carbon dioxide is the primary gas by volume, accounting for 74% of annual emission, other greenhouse gases have higher global warming potential, which measure the absorbed heat of the gas. For example, methane is over 80 times more potent than carbon dioxide if we measure by a 20 years horizon. Noticeably, methane is the second most abundant GHG and is responsible for about a quarter of global warming. Lowering methane emissions is an efficient way to slow climate change.
Human activities (mainly in agriculture, fossil fuels and waste) contributed about 60% of global methane emissions. In May 2021, Climate and Clean Air Coalition (CCAC) and United Nations Environment Programme (UNEP) jointly launched the Global Methane Assessment. Based on the assessment a 45% cut of human-induced methane emissions by the end of this decade would avoid nearly 0.3C of global warming by 2040. On 18 September the US and the EU made a joint agreement to cut global methane emissions by 30 percent from 2020 level by 2030. This initiative, namely the Global Methane Pledge, will be formally launched at the UN Climate Change Conference (COP 26) in November in Glasgow. Other supporters of the Global Methane Pledge include Argentina, Ghana, Indonesia, Iraq, Italy, Mexico and United Kingdom. According to the latest IPCC report, significant ongoing reduction of methane emissions is required to keep temperature rise under control. We encouraged China and other countries to support the Global Methane Pledge. Most importantly we look forward for all signatories to demonstrate their commitments with actions.
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