Wastewater and waste sector accounts for 20% of human-caused emissions, CPI reports

(Image: CPI)

The landscape of methane abatement finance 2023, published by US-based independent nonprofit research group Climate Policy Initiative (CPI), presents the insights on global methane abatement finance covering trends in 2021 and 2022. The findings support enhanced methane abatement ambitions and commitments of public and private actors in line with the objectives of the Global Methane Pledge (MGP).

Methane mitigation can yield significant short-term temperature reductions and at lower costs. Methane is a key driver of near-term global warming, with a 20-year warming power more than 80 times greater than that of CO2.

Human-driven methane emissions account for nearly 45% of current net warming, threatening the goals of the Paris agreement. Methane emissions experienced record growth in 2020 and 2021. Despite the GMP in 2021, they increased by a further 14 parts per billion (ppb) in 2022.

Waste, including both wastewater and solid waste, accounts for 20% of human-caused emissions. According to the report, the waste sector accounted US$6.1bn which is 45% of finance, driven by wastewater management and solid-waste to energy investment. This marked a drop of over $1bn from 2019-2020 and behind the $20.4bn needed per year until 2030.

Mitigating methane emissions presents a clear opportunity for policymakers, as well as public and private investors, to take substantial strides in curbing global warming during this decade. Building on the momentum of recent initiatives such as the GMP and the associated Methane Finance Sprint, public and private sector decision-makers should seek opportunities to close the methane abatement finance gap, according to CPI.