COP29: a crossroad for the reduction of methane emissions?

Written By

boris martor module
Boris Martor

Partner
France

As the partner in charge of our Finance group in France and co-managing partner of our Casablanca office, I advise investment funds, banks, sponsors and public entities on the structuring, award and financing of projects in the energy, infrastructure and automotive sectors in Europe and Africa.

COP29, held in Azerbaijan, faced a unique blend of geopolitical and environmental challenges, especially with the U.S. election of Donald Trump, which could shift global climate dynamics. Trump’s renewed presidency may lead to the U.S. pulling back from climate agreements like the Paris Accord. Trump’s administration is likely to prioritise fossil fuel expansion, contrasting sharply with recent U.S. climate policies under President Biden, which supported international climate commitments and robust methane reduction strategies. 

Azerbaijan’s role as host presented additional complexities. As a major oil and gas exporter, Azerbaijan has recently pledged to increase its renewable energy footprint, striving to balance economic reliance on fossil fuels with commitments to the green transition. Strategically located between Europe, Central Asia, and the Middle East, Azerbaijan is positioning itself as a “bridge” for dialogue on energy transition and climate resilience. 

One of the takeaways apart from the carbon credit clarifications is that the conference supported stricter methane management, including enhanced monitoring, reporting, and verification standards. The EU led efforts to fund advanced methane detection and reduction technologies, especially in countries with substantial oil and gas production but limited regulatory frameworks. 

COP29 introduced the "Declaration on Reducing Methane from Organic Waste," urging countries to address methane emissions from organic waste and agriculture.

30 countries committed at COP29 in Baku to reduce methane emissions from organic waste, announced the Azerbaijani presidency of COP29. These countries together represent nearly half of the world's methane (CH4) emissions from organic waste.

The signatories of the text commit to launching concrete initiatives and roadmaps to reduce their methane emissions. The initiative is part of the "Global Methane Pledge," launched in late 2021 in Glasgow (COP26) and aims to reduce CH4 emissions by at least 30% by 2030 compared to 2020 levels. In total, 158 countries are participating, including Belgium.

The decomposition of organic waste represents the third most significant anthropogenic source of methane emissions, behind agriculture (ruminant livestock, rice fields) and the oil and gas industry (via leaks from installations).

To put things in perspective, CO2, or carbon dioxide, is the main greenhouse gas. But methane is also a formidable troublemaker: it has a warming power more than 80 times that of CO2 over 20 years. However, its lifespan in the atmosphere is much shorter (a few years compared to centuries for CO2). Methane is estimated to be responsible for about 30% of human-caused global warming.

The COP29 presidency also launched, in partnership with the United Nations Food and Agriculture Organisation (FAO), the "Baku Harmoniya Climate Initiative for Farmers," to recognise "the fundamental role of farmers as actors in climate action."

"Harmoniya will develop an online portal and produce guidelines for farmers and agricultural organisations," making it easier for them to access support, they promise. Tuesday 19th November was dedicated as "Agriculture and Food Day" at COP29 in Baku.

All actions decided will need to be quickly monitored to effect methane reduction as quickly as possible.

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