Daily News Analysis » World Bank’s Initiative to Combat Methane Emissions

World Bank’s Initiative to Combat Methane Emissions

Background:

  • Methane constitutes 19% of global greenhouse gas emissions and is a significant contributor to climate change.
  • Key sources of human-driven methane emissions include rice production (8%), livestock (32%), and waste (18%).
  • Despite its high global warming potential (GWP), 80 times more potent than CO2, methane has been less prioritized in climate action.

World Bank’s Strategy and Actions:

  • The World Bank plans to launch at least 15 country-led programs within 18 months to target methane emissions.
  • These programs aim to reduce methane emissions from rice cultivation, livestock, and waste management.
  • The approach focuses on triple wins: cutting emissions, boosting resilience, and enhancing livelihoods.
  • Funding and Partnership Platforms: Current funding for methane reduction is less than 2% of global climate finance, with plans to increase this between 2024 and 2030.
  • Collaborations include Germany, Norway, the USA, the UAE, and the private sector.
  • Two key platforms: Global Methane Reduction Platform for Development (CH4D) and Global Flaring and Methane Reduction Partnership (GFMR).




Initiatives to Tackle Methane Emissions

Indian Initiatives

Global Initiatives

  • ‘Harit Dhara’ (HD) by ICAR reduces cattle methane emissions and boosts milk production.
  • India Greenhouse Gas Program
  • National Action Plan on Climate Change (NAPCC)
  • Bharat Stage-VI Norms.
  • Methane Alert and Response System (MARS) integrates satellite data for methane detection.
  • Global Methane Pledge from COP 26 aims for a 30% reduction in methane emissions by 2030.
  • Global Methane Initiative (GMI) promotes methane as a clean energy source.

 

Why in News:

  • The World Bank is starting new projects to tackle the increasing problem of methane gas emissions.