The curtain has been drawn on COP26, so we can now look back on the achievements and the missed opportunities to weigh up this crucial event’s overall success. It has become apparent from industry and stakeholder reactions that, whilst COP26 made some important political progress, there is significant opportunity for industry and private investment to shape future policy to increase the pace of decarbonisation.
However, world leaders, including the Prime Minister, did manage to make commitments that, if properly fulfilled, could put us on the right track. It was great to see the UK, amongst over 100 other countries, sign up to the EU-US-led Global Methane Pledge, committing to reduce methane emissions by at least 30 percent by 2030 from 2020 levels. With methane being several times more potent than CO2 as a greenhouse gas, keeping this under control will be vital for combatting the climate emergency and keeping alive the goal of limiting global warming to 1.5C.
Whilst the pledge is a welcome move, we must now look to develop a strategy and fill the legislative and policy support gaps to ensure this ambitious level of reduction is achievable. A previous statement by the US and EU specifically highlighted biomethane and anaerobic digestion as routes to significantly slashing methane emissions. As one of the leading developers and asset managers of bioenergy in the UK, Eco2 appreciates the amount of work and investment that will need to be put into these sectors if we are to accomplish a 30 percent reduction in the relatively short, albeit necessary, timeframe of 10 years.
We can help make this a reality. Whether it is the development of a new bioenergy asset, or you require a highly capable asset management service, part of our mission is to ensure that your project can realise its full potential and help to expand the industry so it can do all it can to mitigate the climate crisis.