Methane-to-Market Partners Look for More Emission Reductions at Mexico Meeting
U.S. Environmental Protection Agency Administrator Lisa P. Jackson will join ministers from the Methane to Markets Partnership countries in Mexico City on Oct. 1. At the meeting, the United States will work with partner nations to encourage global action to reduce methane emission sources and identify possible additional resources to achieve this goal. Methane is a potent greenhouse gas (GHG) that is 20 times more powerful than carbon dioxide in warming the atmosphere.
The meeting, co-hosted by EPA and Mexico’s Ministry of Environment, will also celebrate the accomplishments of the partnership, which include supporting more than 300 methane emission reduction projects around the world. The projects, when fully developed, will reduce GHG emissions in an amount equivalent to annual emissions from 11.4 million cars. The ministers are expected to reaffirm their commitment to strong global action on methane for an additional five years.
The Methane to Markets Partnership reduces GHG emissions by promoting cost-effective recovery and use of methane through global projects. Methane projects are also important because they provide new sources of clean energy, while improving air and water quality. Since 2004, the partnership has proven to be one of the most effective international efforts to reduce greenhouse gas emissions, growing from 14 to 36 country partners, representing nearly 70 percent of global methane emissions today, according to EPA. More than 1,000 public and private sector organizations have also signed on to date.
The partnership has leveraged nearly $360 million in investment from private companies and financial institutions. EPA estimates that if currently available methane reduction technologies were fully implemented globally, annual GHG emissions reductions equivalent to the annual emissions from over 280 million cars could be achieved by 2020 could be achieved at relatively low cost. Achieving these reductions could make a significant impact on climate change by helping to stabilize or even lower global atmospheric concentrations of methane.