The IEA estimates that just over $75 billion is needed to finance methane abatement between now and 2030 to reach its Net-Zero scenario, with $34 billion needed in high-income countries, $27 billion in upper-middle income countries, $13 billion in lower-middle income countries, and $3 billion in low-income countries. While over 40% of methane abatement measures can be achieved at no net-cost, with some efforts even turning profit, there are significant obstacles to securing the necessary, initial financing to cut methane. Methane abatement projects have long pay-back options and low internal rates of return, especially compared to other oil or gas investments, and NOCs face constraints given competing priorities for domestic spending, especially in lower-middle income countries and low-income countries. Furthermore, donors and development finance institutions generally don’t prioritize or track methane abatement goals, and many banks and funds increasingly have rules limiting financing to the oil and gas industry. These obstacles present significant challenges to mobilizing the urgent financing needed for methane abatement in the energy sector, but they can be overcome with a coordinated and systemic overhaul in how all stakeholders approach methane finance. Join us as we consider how governments, industry, international financial institutions, cities, and municipalities can work together to raise catalytic levels of methane abatement financing on capital markets and build investor appetite in one of the fastest paths to slowing climate change.
Speakers: Claire Henly, Senior Advisor, U.S. Special Presidential Envoy for Climate, U.S. Department of State; Zubin Bamji, Program Manager, Global Gas Flaring Reduction Partnership (GGFR), Energy and Extractives, World Bank; Bella Tonkonogy, Director, U.S., Climate Policy Initiative; André Abadie, Managing Director, Centre for Carbon Transition, J.P. Morgan; Mohamed Sultan, Africa Lead, Global Methane Hub; Jonathan Banks, Global Director, Methane Pollution Prevention, Clean Air Task Force
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