Which financial institution is taking bold action to address methane emissions, launching at least 15 country-led programs in the next 18 months?

Solution

The World Bank is taking bold action to decisively bend the methane emission curve, announcing its intent to launch at least 15 country-led programs in the next 18 months. These programs will aim to slash up to 10 million tons of methane (over investment lifespans). Addressing methane emissions is a cost-effective way to reduce the dangerous rise in global temperatures and support billions of people on the front lines of climate change. It is essential to the World Bank’s impact-focused climate action plan and its vision of creating a world free of poverty on a livable planet. The new national programs build on successful pilots that have delivered transformative solutions for rice production, livestock operations, and waste management. These interventions have improved water management of rice paddies and rice straw composting, supported sustainable livestock management through advanced food practices, selective breeding, and better manure treatment; and diverted organic waste from landfills and more efficiently managed biogas. Deploying the best available technologies, methane emissions from rice production can be reduced by up to 40%, for livestock by up to 30%, and for waste by up to 80%. Methane represents about 19% of global greenhouse gas emissions. Rice production accounts for 8%, livestock 32%, and waste 18% of all human-driven methane emissions. These efforts will be complemented by simple and effective solutions for reducing methane emissions from the power sector. The World Bank is working with Germany, Norway, the United States, the UAE and the private sector to expand on long-standing efforts to significantly cut methane emissions across the whole energy value chain. Related to these efforts, the World Bank is launching two partnership platforms for accelerated methane action: The Global Methane Reduction Platform for Development (CH4D), a hub for methane abatement in agriculture and waste, and the Global Flaring and Methane Reduction Partnership (GFMR) focuses on reducing methane leaks in the oil and gas sector. Learn Along: About World Bank The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development. Headquarters: Washington, D.C., United States   Founded: July 1944       President:Ajay Banga