Over $2 Billion Secured in Global Funding to Tackle Super Pollutants

In a substantial boost to global climate action, over $2 billion in international grant funding has been mobilised in recent years to combat super pollutants, with additional billions pledged to mitigate the damaging effects of methane and other potent greenhouse gases.

This collective effort underscores the urgent need to reduce super pollutants, which significantly contribute to global warming.

The European Commission has emerged as a key player, recently committing an additional €105.6 million ($114 million) in grant funding specifically for methane reduction initiatives.

This funding is part of Europe’s broader climate action plan under its Green Deal, further solidifying its leadership in tackling methane—a greenhouse gas that is up to 84 times more potent than carbon dioxide in the short term.

Complementing the European Commission’s commitment, major international financial institutions have significantly ramped up investments to curb methane emissions.

The European Investment Bank (EIB) has allocated over €2 billion ($2.1 billion) towards methane mitigation, while the European Bank for Reconstruction and Development (EBRD) has pledged €350 million ($385 million) for projects addressing methane leaks and other super pollutants in both private and public sectors.

“These investments are essential in our collective fight against climate change,” said EIB President Werner Hoyer.

“Methane emissions are a major driver of global warming, and addressing them in the energy, agriculture, and waste sectors is crucial to meeting climate goals.”

These funding initiatives follow the recent 2024 United Nations climate report, which warned that without swift action to curb emissions from super pollutants like methane, the world will struggle to achieve the Paris Agreement’s 1.5°C temperature rise target.

Methane, emitted from sources like oil and gas extraction, agriculture, and landfills, is a significant climate challenge. While reducing CO2 is critical for long-term climate stability, tackling methane emissions provides a near-term opportunity to slow the rate of global warming.

The EIB’s methane-focused investment is part of its larger climate finance strategy, which includes support for renewable energy, energy efficiency, and other carbon reduction technologies.

Similarly, the EBRD has been helping emerging economies transition to sustainable energy practices, with a strong focus on reducing methane emissions in sectors such as coal mining and agriculture.

Environmental advocates have praised these international financial commitments, underscoring the urgent need to scale up efforts to tackle super pollutants.

“These commitments are vital to the global response to climate change,” said Lisa Goldman, Director of Policy at the Clean Air Task Force. “Methane reduction is one of the most effective and cost-efficient ways to curb global warming in the short term.”

These pledges from the European Commission, EIB, and EBRD form part of a larger international push to accelerate methane reduction across various sectors.

Investments will support technologies and infrastructure to capture or reduce methane emissions before they reach the atmosphere, alongside initiatives promoting improved management practices and methane detection systems.

With over $2 billion in funding already deployed and billions more pledged, these financial commitments represent an unprecedented level of global cooperation aimed at addressing super pollutants.

“The scale of funding now being mobilised is extraordinary,” stated a spokesperson for the United Nations Environment Programme (UNEP). “The momentum is building, and it’s essential for governments, financial institutions, and the private sector to continue collaborating to drive meaningful progress in the fight against climate change.”

As the impacts of climate change intensify, reducing emissions from super pollutants like methane is increasingly recognised as a key step in limiting near-term global warming.

These new financial commitments set a high bar for international collaboration in climate action, helping to pave the way for a more sustainable and resilient future.