The impact of climate change is continuously intensifying, and the significant role that certain gases, notably methane, have in such processes has become a subject of great concern. Methane, making up 19% of all global greenhouse gas (GHG) emissions, is a formidable contributor to climate change due to its superior Global Warming Potential (GWP). GWP is a measure used to compare the amount of heat a GHG can trap in the atmosphere over time, typically over a 100-year span, against carbon dioxide (CO2). While CO2 serves as the reference point with a GWP of 1, methane, just as nitrous oxide (N2O), has a considerably higher GWP because of its more effective heat-trapping capability.
World Bank’s Plan to Combat Methane Emissions
In response to the growing methane problem, the World Bank has recently announced its plans to introduce a series of country-led programs aiming to reduce as much as 10 million tons of methane throughout their investment duration. These ambitious initiatives will target a variety of methane sources, including those stemming from rice production, livestock operations, and waste management. By implementing strategic interventions, the World Bank aims to curb environmental degradation and foster sustainable practices.
Funding Mechanism to Reduce Methane Emissions
Currently, less than 2% of the entire global climate finance is directed towards methane reduction. However, the World Bank envisions a significant increase in this domain by boosting public and private funding to mitigate methane emissions between 2024 and 2030. Collaborations with countries like Germany, Norway, the United States, the UAE, and various private sectors form the core of this strategic plan.
World Bank’s Partnership Platforms
Additionally, the World Bank also plans to launch two partnership platforms: The Global Methane Reduction Platform for Development (CH4D) and the Global Flaring and Methane Reduction Partnership (GFMR). While CH4D’s primary focus will be on mitigating methane in agriculture and waste, GFMR will concentrate on reducing methane leaks in oil and gas sectors.
Initiatives to Reduce Methane Emissions
There are several initiatives both at the national level as well as globally to tackle methane emissions. For example, ‘Harit Dhara’ (HD), an anti-methanogenic feed supplement developed by the Indian Council of Agricultural Research (ICAR), reduces cattle methane emissions by 17-20% and can boost milk production. On a global scale, the Methane Alert and Response System (MARS) aims to integrate data from existing and future satellites to detect methane emission events worldwide.
Measures to Further Reduce Methane Emissions
Mitigating methane emissions requires concerted efforts across sectors. In the energy sector, existing cost-effective solutions include initiating leak detection and repair programs and implementing better technologies. Moreover, farmers can provide animals with more nutritious feed, and alternate wetting and drying approaches for paddy rice can halve emissions. Furthermore, separating organics and recycling in the waste sector can also significantly reduce emissions. Lastly, governments can develop comprehensive policies that shift farmers towards more sustainable ways of food production.
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