COP26 Achieves Methane Milestone - Corporates Must Act, Across Value Chains
Originally published on EcoVadis newsroom
By Anne Benz & Julia Kostin
The COP26 summit in Glasgow received mixed reactions from activists and onlookers, with many arguing that national leaders remain too lax on a time-bound strategy for halting global warming to 1.5°C above pre-industrial levels. However, quantifiable progress was achieved on one major climate driver – methane – giving reason for optimism amid much uncertainty.
Global emissions of this tiny molecule – made up of one carbon surrounded by four hydrogen atoms – are responsible for up to 30% of all global warming, with 60% of total emissions deriving from human sources. Furthermore, methane is 80 times more potent than carbon dioxide in a 20-year timeframe, meaning that aggressive action to remove and mitigate methane emissions in the near-term can provide immediate benefits for the climate, and will be key to achieving Paris Climate Agreement targets.
As regulators in Europe and North America edge ever closer to imposing Methane reporting requirements and emissions restrictions on companies, it is essential that business leaders are proactive in their response and acquire a firm understanding of why supply chain action is key to fulfilling the Global Methane Pledge.
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