The Global alliance makes its donation during the CCAC’s 10th anniversary to lead global efforts to reduce methane emissions and another short-lived climate pollutant.
Santiago, Chile: The Global Methane Hub, led by CEO, Marcelo Mena, announced today it will be donating $10 million to the Climate and Clean Air Coalition (CCAC) to fund efforts to reduce methane emissions globally. The announcement was made on the 10th anniversary of the coalition, which included the participation of John Kerry, the United States Special Presidential Envoy for Climate.
“The Global Methane Hub is committed to accelerating ambition on methane reduction globally,” said Marcelo Mena. “We are at a critical moment in the climate crisis right now and we know that reducing methane emissions is the fastest and most effective way to address climate change. At The Global Methane Hub, the work we are doing now is geared towards funding near-term solutions that will have a direct impact on climate and create a better outcome for the environment within our lifetimes.”
The $10M donation is part of the Hub’s commitment to support and sustain action from civil society, government, and private industry, including the more than 100 countries that have signed on to the Global Methane Pledge by meaningfully investing in methane reduction solutions. Initiatives have already begun by developing sector-based strategies for waste, agriculture, and fossil fuels.
“Over 110 countries have now joined the Global Methane Pledge, showing their commitment to prevent global warming in the near term,” said Kerry. “The CCAC, with the financial support of the Global Methane Hub, can help countries turn their pledge into action—delivering benefits for the climate as well as for communities’ quality of life”, added.
The $10M funding by the Hub will be allocated over a period of three years to assist 30 countries with developing plans to reduce their methane emissions, including technical support to estimate emissions, identify mitigation options, and design policies to meet those goals. The support will be tiered in terms of the capacity of each country, and their emissions. The Global Methane Hub will also support and fund technical experts on methane to be embedded in ministries to increase capacity in the long term.
Methane is more than 80 times more powerful than carbon dioxide. At least 25% of today’s warming is driven by methane from human actions. Methane emissions have produced nearly half (0.5oC) of the observed 1.1oC net global warming since 1850, primarily from the fossil energy, agriculture, and waste sectors with the oil and gas industry, livestock and landfills being the heaviest emitters. Reducing methane emissions is the single most effective way to rapidly slow global temperature rise before the end of the century and avoid dangerous climate tipping points.
To learn more, please visit The Global Methane Hub.