Australia has joined the Global Methane Pledge to reduce methane emissions by 30% by 2030, as reported by Reuters on October 23. The Global Methane Pledge, led by the US and the European Union, has been signed by 122 countries. According to Australia’s climate change minister Chris Bowen, the government would invest up to AUD3bn (USD1.91bn) from the USD15bn National Reconstruction Fund in low emissions technologies, component manufacturing, and methane reduction in the agriculture sector. Bowen continued by saying that the nation would like to establish more partnerships to reduce carbon emissions in the waste and energy sectors and to collect waste methane for electricity production.
The goal of the Global Methane Pledge, formally introduced at the 26th United Nations Climate Change Conference (COP26) last year, is to cut global methane emissions by at least 30% by 2030 compared to 2020. Australia announced its refusal to take part in the effort in October 2021, citing worries about the detrimental effects on its agriculture and livestock industries. Methane is presently the second-largest source of greenhouse gas in the world after carbon dioxide. It is mostly produced by surface mining, natural gas, and big livestock animals, all of which are important to the Australian economy. Currently, Australia’s livestock industry is responsible for 25% of the greenhouse gas emissions in the country and 48% of the nation’s total methane emissions.